8 Things You Can Do to Lower Your Employee Training Costs

Employee training is a necessary part of doing business. You need skilled workers who are knowledgeable and confident. Education is the best way to achieve that goal. However, that training will come at a cost.

While in training, your new hires likely won’t be producing. And you may have to pull employees away from their teams to allow them to work through courses related to their job roles or career goals. That means lost profits during that time. The good news is that you have a lot to gain once your team is well-trained and compliant if required.

The Association for Talent Development reported that an average of $1,252 is spent to train one employee. That amount will vary significantly from one organization to the next.

Several factors also apply. For example, a larger company may have a lower per employee training cost compared to a small business. That’s because the disruption is more significant for a smaller operation. Large companies may also be able to get better rates on supplies, technology, and subscriptions because they are training a higher number of employees.