July 8, 2022
How to survive the crisis and increase the effectiveness of employee training
The crisis leaves no choice but to cut costs.
The crisis leaves no choice but to cut costs. First of all companies save on employee development and sometimes cancel all training programs. Let's find out what training problems companies encounter, why employee training is twice as important in crisis, and how to reduce training costs without losing its effectiveness.
Recognizing the problem
Companies invest in training, but it is challenging to track and improve its effectiveness.
Typical problems include:
1. Hard time tracking the actual effectiveness of training.
2. Company training and business performance are not interconnected.
3. Training system is difficult to scale.
4. Unknown how the employees apply the skills they gained during the training.
5. Long-term training goals are difficult to control and adjust
Why is training important in times of crisis?
The crisis causes most companies to reduce training resources. This is the wrong strategy, and we will explain why below:
1. Employees have a clear motivation to learn and apply skills - no one wants to lose a job in a crisis.
2. The strongest companies survive during the crisis. It is important to improve the quality of service and create new products. This requires a strong team, and assembling a team is a complex process. High-quality training within the company, letting your develop is a key to success in building a strong team.
3. If it was not possible to avoid layoffs, training will be useful for retraining those employees who remain in the company and replace the laid-off employees.
4. In crisis, applied training is crucial - the skills that are needed right now. For example, training sales managers, teaching them to earn more money for the company.
5. In crisis, companies develop new directions. This requires fast and working onboarding and training for beginners.
What is the solution
The following will help address the above challenges:
1. Spot training of employees based on their work. Individual approach to each employee, based on the results. A weak employee requires more training time than an effective employee. This reduces the coach’s time which means it reduces costs. LPR Index is a metric generated by Science Stock. It shows employees with poor performance and offers them to undergo training.
2. Data on work and training are synchronized - the manager has real-time information on how effective his department for the company.
3. Artificial intelligence analyzes company data, and training results, and offers the best training programs for employees.
We will talk about a new service - Science Stock - a unique training platform that works for both small companies and large corporations. The service makes the training process simple, and transparent and shows its effect on business and employees.
This service allows:
— Creating interactive courses
— Integrating the platform and company processes via API
— Using the LPR module, see the results of departments and certain employees and assign training programs
— Collecting all statistics on training, sales, and induction processes in one dashboard
— Measure the training effectiveness
— Organize an internal social network for the company
How it works
Let's take the support center of a furniture company. The company has over 1 000 employees.
Compare business processes before and after this service:
Let's talk figures. How the service helped to reduce the cost of training in a retail company by 137%:
In crisis, it is important to pay due attention to training, to make the process more efficient, and to reduce costs that do not bring benefits.
Effective learning process requires:
1. Analyzing the learning process based on business performance and amplifying weaknesses. The LPR Index metric will help you with that.
2. Optimizing the training budget after the analysis.
3. Selecting only effective training programs using the training module from Science Stock.
Science Stock helps building a learning system that saves the company money. We provide free consultation to help companies in a crisis.
Sign up for a zoom meeting: