Training Software Trims Employee Training Costs to Ease Turnover
- Date: 2007-06-26 - Word Count: 360
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Turnover, it seems, is a serious problem and an expensive one, according to Willis Mushrush, Business and Industry Specialist for the University of Missouri.
"Turnover costs for many organizations are very high and can significantly affect the financial performance of an organization," said Mushrush.
In fact, estimates indicate that it costs one-third of a new hire's annual salary to replace an exiting employee. Employee training makes up the bulk of this expense. Whether it's the cost of reproducing learning materials, travel and lodging for off-site training, or work hours lost in the classroom, businesses large and small pay dearly for new hires.
Efficiency is the key to reducing employee training costs
So how can companies spend less money on training and still get new employees up to speed? The answer isn't less training, but smarter training.
Learning management systems and e-learning resources make employee training programs more cost-efficient. E-learning service providers, like Evolve, offer a variety of mix-and-match training services at a fraction of the cost of traditional training programs.
Flexible training solutions save money and improve employee performance
Currently, only 28 percent to 32 percent of businesses take advantage of software or Internet-based training solutions, but the trend is growing. Software and online training resources are a natural choice as employees and corporations become more tech savvy. Not only do e-learning solutions cost less than traditional training programs, but they also offer companies a more extensive menu of training options.
The cost efficiency and wide scope of e-learning solutions allows companies to provide more training for employees at every level, from laborers to management. According to studies conducted at the Centre for Business Research, better training is directly related to better overall performance for businesses of any size.
This is not your dad's business world. Modern problems call for modern solutions
Gone are the days when employees began and ended their careers with one organization. Employment culture is changing and your training programs should be changing too. Not only will it ease the pain of employee turnover, but e-learning solutions will help you train a more productive workforce.
To find out how Evolve e-learning solutions can revolutionize your training systems, call 1-866-571-4859 today, or visit EvolveElearning.com.
"Turnover costs for many organizations are very high and can significantly affect the financial performance of an organization," said Mushrush.
In fact, estimates indicate that it costs one-third of a new hire's annual salary to replace an exiting employee. Employee training makes up the bulk of this expense. Whether it's the cost of reproducing learning materials, travel and lodging for off-site training, or work hours lost in the classroom, businesses large and small pay dearly for new hires.
Efficiency is the key to reducing employee training costs
So how can companies spend less money on training and still get new employees up to speed? The answer isn't less training, but smarter training.
Learning management systems and e-learning resources make employee training programs more cost-efficient. E-learning service providers, like Evolve, offer a variety of mix-and-match training services at a fraction of the cost of traditional training programs.
Flexible training solutions save money and improve employee performance
Currently, only 28 percent to 32 percent of businesses take advantage of software or Internet-based training solutions, but the trend is growing. Software and online training resources are a natural choice as employees and corporations become more tech savvy. Not only do e-learning solutions cost less than traditional training programs, but they also offer companies a more extensive menu of training options.
The cost efficiency and wide scope of e-learning solutions allows companies to provide more training for employees at every level, from laborers to management. According to studies conducted at the Centre for Business Research, better training is directly related to better overall performance for businesses of any size.
This is not your dad's business world. Modern problems call for modern solutions
Gone are the days when employees began and ended their careers with one organization. Employment culture is changing and your training programs should be changing too. Not only will it ease the pain of employee turnover, but e-learning solutions will help you train a more productive workforce.
To find out how Evolve e-learning solutions can revolutionize your training systems, call 1-866-571-4859 today, or visit EvolveElearning.com.
Related Tags: business training, training programs, employee training, training software, learning management systems, web-based training solutions
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