10 Ways to Lower Training Costs with a Cloud LMS

Bringing on new hires is expensive. You must go through the vetting and onboarding process to maximize the chances of long-term retention. Many companies search for ways to lower hiring costs without sacrificing quality when it comes to choosing job candidates and training them.

The Association for Talent Development released a State of the Industry Report in 2016 that found organizations were spending an average of $1,252 on training and development per employee. That was a $23 increase from 2014. Employees averaged 33.5 hours of training the previous year.

If you are a small business, then you must be even more careful about where and how you invest your time and resources. According to Entrepreneur.com, small business owners spend approximately 40% of their working hours doing tasks that do not directly generate income, including hiring. Some pay an external HR firm to handle tasks while others try to do it themselves. Either way, there is an added cost involved that can add up.

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