It seems that everywhere you turn right now, the news is focused on the 'cost of living crisis'. Whilst this is a genuine issue affecting millions of people, this blog is focused on Learning & Development, so what does cutting costs mean for L&D?
Often, when cuts need to be made, training is one of the first to get it. Training can unfortunately be seen as a luxury in some organisations and because they're focused on the present day, they may cut training budgets to make a quick saving, while losing sight of the impact that may have on the future.
As a leader, you know that we can't just stop learning and developing until budgets get back to 'normal', but what can we do when we just can't afford the same courses or resources we were used to paying for?
Train the Trainers
Consider who, within your organisation has the knowledge, skills or experience that you want to share. They could potentially make excellent 'trainers' - with a little help. Work with them to ensure any training programmes they create are true training programmes - not just lectures or instruction manuals. Work with them to ensure learning will be engaging and can be transferred back into the workplace.
Use What You Have
Make the most of subscriptions you already pay for, such as LinkedIn Learning. Encourage everyone to use them regularly by talking about them often and sharing your learning. Revisit older materials and refresh old in-house courses - you might find some gems in the archive file or in that dusty old filing cabinet.
Coach and Mentor
Coach your teams on their performance by having powerful conversations to help them reflect on their performance and what they could do to improve. Consider setting up formal or informal mentor programmes to encourage people to support each others' development.
Training doesn't need to be expensive to be effective! So talk with your teams about how they learn. Share resources and experiences with each other to continue learning and developing regardless of your budget.
For more ideas, download the Inspiring Continuous Learning in Your Workplace book here: