How to Significantly Decrease the Cost of Training

Decrease the Cost of Training

Like Any Business Process, You Should Look to Decrease the Cost of Training
If you are looking for a quick way to significantly decrease the cost of training – this is the place.  If you want to lessen the bottom line “cost” of training, you need to have a laser focus on providing measurable business value and impact.

Is Your Training and Development Impacting the People AND the Business?
Why?  Because the majority of corporate training does not quantifiably impact the strategic priorities of the company. And therefore, can often be completely eliminated or at least reduced.

Many Training Initiatives Can Be Eliminated
It sounds harsh, but:

  • We measured over 800 training projects, and only 1-in-5 participants changed their behavior and performance from training alone.
  • Our latest Training Measurement poll shows that 71% of respondents find training measurement either too difficult or too confusing to know if their training is making a difference.
  • Only 10% of respondents to a recent McKinsey survey said their companies’ frontline manager training is effective in preparing managers to lead.
  • 72% of business executives, according to Bersin, want a specific business impact from their training investments.

The Purpose of Learning and Development
Your goal as a learning professional – design learning solutions that have an impact on what matters most to the people and to the business. When training is designed to have a measurable impact, you should move full steam ahead. When training’s impact on the people or the business is ambiguous, think about eliminating or reducing it.

Six Key Steps to Make Your Training More Effective
Executives do not nitpick over the cost of highly effective and important training; they nitpick over things that do not appear to matter compared to other priorities. Here are the key steps to take to ensure that your training matters:

1.  Define the Business Need
The first step to decrease the cost of training is to clearly define the business goal, problem or need with key stakeholders.

2.  Identify Success Metrics
Identify the critical few (1-3) specific business metrics that you are trying to impact – i.e. revenue, margin, productivity, engagement, retention, loyalty.

3.  Calculate the Business Value
Determine the current and desired states for each metric and the business value of achieving the desired state – i.e. if we increase revenue by 20% we would create an additional $5m in profits; if we decrease attrition by 15% we would save $2.3m and meet 95% of project targets.

4.  Compare the Value
Calculate if the value of achieving the desired target success metric is important enough to pursue compared to other strategic priorities.

5.  Design the Approach
Decide if training should be part of the solution and what else you need to make the desired impact – i.e. strategic clarity, cultural alignment, process improvement, change management, technology upgrades, performance management, rewards and recognition, resources, coaching etc.

6.  Deliver the Solution
Assess
, design, implement and measure a holistic solution that makes sense.

The Bottom Line
We estimate over 50% of the time that training alone is not the solution to your business or people problem. When this happens, you spend ZERO on training and do not fall into the trap of wasting corporate money on irrelevant training. The other 50% of the time, you are developing learning solutions that impact the people and the business while contributing to the overall health and future success of the organization.

To learn more about more effective corporate training, download the Top 10 Warning Signs Your Training Function  May Be in Trouble

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We consider LSA Global our outsourced learning and development partner. We worked closely with LSA to customize a management development program to meet our growing business needs. I would highly recommend LSA to any company wanting to deliver quality learning solutions.

Terri Wright-Scheer
Vice President Human Resources

Each program is preceded by an assessment of the participants. The course is then designed to fit the specific parameters and needs of the group. The highly interactive delivery is provided by recognized experts in their fields. On the spot coaching is provided during the program and each participant receives individual follow-up after the course. Courses can be delivered in-person or virtually. Given the nature of Cisco’s business and the way we operate, these remote workshops are a must for anyone who joins our company. Their work is eye opening. Great content and fantastic delivery.

Frank J. Kuypers
Business Development Manager

LSA exceeded all my expectations. We interviewed 7 potential training and consulting partners and selected LSA due to their expertise, flexibility, and breadth and depth of solutions. We were able to construct a management training course from the modules most appropriate to our needs, and are able to provide additional training from their well developed portfolio of experts. Our managers galvanized as a team throughout the session and are better prepared for the rigors of a competitive market.

Mitch Mandich
CEO

Edify

I am very impressed with the quality of work and talent. LSA did a great job of listening to my needs and providing the exact management training program expertise I needed to get the job done.

Don Pryor
Director, Business Planning & Analysis

LSA helped change our entire culture around meetings, making them more effective and efficient, thus enabling us to concentrate on driving more business.

Terry Wassman
VP of Human Resources

LSA’s customized Effective Presentation Skills program has helped me elevate my presentation skills to the next level. I now have a much greater self-awareness of my presentation skills and can leverage off of my strengths while working to improve upon other areas. I would definitely recommend this solution to anyone for whom business presentations are an integral part of their job.

Jim Elliott
Senior Marketing Manager

Samsung

We engaged LSA to design and deliver a 6-month custom executive coaching program for a group of our key leaders. The focus of the program was to help a core group of senior leaders to leverage previous investments in management training, to ensure the engagement and retention of key employees, and to push critical strategic initiatives forward. Even with the high expectations of our senior people, LSA has completely exceeded our expectations. I would recommend them to anyone looking to create and implement a custom coaching methodology using proven tools to drive true change.

Ivan Fukumoto
Senior HR Manager - Staffing, Training, & Development

We have worked with LSA Global for our learning and development needs and have always had great success. They helped us recently with customized Management Workshops that we held for the second time. It was fantastic, and I would highly recommend LSA to anyone that is attempting to get immediate and impactful improvements.

Mary Johnston
HR Manager, BU Radiology Informatics

Our company engaged LSA to do a specialized “train the trainer” program, and the consultant’s performance outdid our exceptionally high standards for such a program. Very crucial to the success of this program was the work done upfront to discuss our needs and to interview key members of our organization so that the program specifically met our goals. Our facilitators continue to comment on the success of the program. Thanks also for the follow-up.

Frank Abbott
Chief Financial Officer

LSA’s consultant designed and delivered a half-day team building solution for our recent conference. It included careful customization to integrate the design with our new mission and values. Everyone had fun and identified key issues with our teamwork. Altogether a great program!

Bob Ward
Director of HR

I have worked with other training companies and found it to be more of a seller/buyer relationship than one of matching the right expertise to our business issues. That’s what LSA does – ask the hard questions, listen, and understand our business needs. We receive the benefit of their expertise from assistance with personal development plans to enhancing team performance, to looking at enterprise-wide challenges. It’s all about helping our business succeed as we grow. Right now, LSA is providing great ideas, a fresh approach, and valuable guidance as we develop our management team and accelerate our client relationship management results.

Kristin Westland-Kaune
Director, Team Development

LSA has been a tremendous asset to my portfolio, both at my current company and my past company. As an HR leader, I am always looking for ways to find external resources that can provide a solution to our management training needs. LSA does that for me. Their solutions are presented in a much more leadership-oriented manner so as to be crisp, business relevant, and easy to apply right back on the job. I will continue to augment our programs using LSA solutions.

Ken Boehm
VP of Human Resources

What a refreshing change from the half-baked psycho-babble you normally get from training and consulting organizations. LSA gives you the practical and results-oriented assistance you need to define and reach your goal.  They provide a results driven plan – not just a temporary fix. They are great to work with, and even more importantly, they “get it!”

David Fiano
Vice President Human Resources

We recently contacted LSA Global to assist us with a unique training request. We gave LSA a very short deadline and LSA custom designed a training program to meet our exact requirements within the limited time allotted to them. We found their facilitator to be well versed in the subject matter and very credible; the design provided practical and valuable information to our team of managers. I highly recommend LSA Global, particularly in the area of management training.

Julaine K. Souza
Senior Vice President

For our go to training outsourcing partner, LSA provides exactly what we want. As always, they deliver outstanding work!

Elizabeth Siebert
Director, Organizational Excellence & Development

Intuit

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