Running a small business often means wearing multiple hats and juggling numerous responsibilities. One way to simplify and enhance your operations is by outsourcing your online training programs. This strategy not only saves time but also ensures that your employees receive high-quality training.
According to the 2023 Training Industry Report by Training Magazine, small companies (those with 100 to 999 employees) increased their average training budgets from $368,891 in 2022 to $459,177 in 2023. This significant increase highlights the growing recognition of training's importance among small businesses.
Small companies also spent an average of $1,420 per employee on training in 2023, compared to $1,396 per employee in 2022. This 1.7% increase demonstrates a continued commitment to employee development, even in challenging economic times.
To remain competitive, small businesses under 100 employees also need to invest in their people, to ensure skills, soft and job specific, remain current and strong.
Before diving into the "how," let's understand why outsourcing online training is beneficial:
1. Expertise and Quality: Leverage the expertise of professional training providers.2. Cost Efficiency: More cost-effective than developing in-house training programs.
3. Scalability: Easily scale training programs up or down based on your needs.
4. Focus on Core Business: Free up internal resources for core business activities.
5. Access to Latest Trends: Benefit from the latest training trends and technologies.
A common guideline for training budget allocation is between 1% and 5% of an employee's annual salary. For example, if the average employee earns $50,000 annually, the training budget could range from $500 to $2,500 per year per employee.
Companies typically allocate between 2% and 5% of their total budget to training.
1. Reduce Administrative Burden
2. Ensure Consistency and Compliance
3. Improve Employee Performance
4. Speed Up Onboarding
5. Provide Flexibility and Accessibility
Industry standards suggest that the average cost of training per employee is around $1,200 annually, but this should be adjusted based on each company's specific needs and industry benchmarks.
At Lone Armadillo Learning, we offer cost-effective online training solutions designed specifically for small businesses. Our platform provides:
With our extensive catalog and pre-curated paths, we can get your team up and running within days, not weeks. If you need custom content, our network of highly experienced instructional designers can prepare tailored materials to ensure your team is trained and ready to help your business succeed.
Implementing outsourced online training is not just about cutting costs – it's about creating a more efficient, productive, and skilled workforce. By partnering with the right provider, you can transform your training from a time-consuming task into a strategic asset that drives your business forward.
Companies typically allocate between 2% and 5% of their total budget to training. This investment in employee development can lead to significant returns in terms of productivity, employee satisfaction, and overall business performance.
Ready to streamline your business operations with outsourced online training? Explore our comprehensive training solutions and start optimizing your business processes today!
1. How long does it typically take to implement an outsourced online training program?
While the industry standard is 6 weeks to several months, with Lone Armadillo Learning's pre-curated paths and extensive catalog, implementation can be as quick as a few days.
2. Can outsourced training be customized to fit my specific industry needs?
Yes, reputable training providers like Lone Armadillo Learning offer customization options to ensure the content is relevant to your industry.
3. How do I measure the ROI of outsourced online training?
Track metrics such as employee productivity, reduced error rates, improved customer satisfaction, and decreased turnover rates.
4. Is outsourced online training suitable for all types of businesses?
While beneficial for many, it's particularly valuable for small to medium-sized businesses looking to optimize their resources and improve efficiency.
5. How often should online training content be updated?
Training content should be reviewed and updated at least annually, or more frequently if there are significant changes in your industry or business practices.