Training and learning online: Employer support

In a full-employment, highly competitive economy the issue isn't whether to invest in training, it's how.

There are plenty of courses available, and technology allows this to be done at a pace that is right for your employees and yourself. Here are a few extra thoughts you may not have come across:

If employees have a need for training, make them pay for it!
Heavy training costs benefit the employee, raising their economic value in the marketplace. If the employee walks out, so does the acquired skills and your investment for the benefit of another employer and probably for a higher salary.

Does this seem a bit unfair on you as the employer? Why not consider requiring the employee to repay the training expenses?

For example, if a course costs you £1,000 and the employee leaves within 12 months, make them repay, say, 100 per cent of the training cost, and say 50 per cent if they leave between 12-24 months. You will need to provide for this in the contract and get the employee's consent.

Advantages:

• Cost recovery
• Extra retention influence
• Extra topic for negotiation on departure
• Makes employee appreciate cost of training
• Employee probably takes greater interest in selecting the right course
• Employee probably pays greater attention during the course

Disadvantages:

• Possible loss of attraction to recruitment

Co-invest in training; offer more training courses for employees and save money!
Offer extra training in lieu of a pay increase. Before you laugh too loudly, consider this:

• To pay for a £500 course, from after-tax salary, an employee would need to earn over £900
• This would cost the employer over £1,000 after National Insurance has been paid
• Employers can supply the employee with a £500 course for £500 and save cash or, alternatively, provide two £500 courses for the same salary cost
• This will be of greater benefit to the employer and, in the medium to long term, probably better value to the employee.

Maximise online training
Consider maximising the following advantages from online training:

• Employees' appetite for continuous training makes them more likely to study from home and in their own time
• Online training can be put on hold during busy times and be less intrusive in your daily work patterns
• Online training is much more efficient; a seven-hour training session online will probably be more focused than several days on a residential course

Maximise government financial support to cover training costs
Your company may be able to attract a subsidy for learning. A useful starting point is to contact your local TEC or Business Link. Contact details and further information about their business services can be found at www.tec.co.uk and www.businessadviceonline.org.

Alternatively, your company may be able to apply for a Small Firms' Training Loan to help meet the cost of training. These are operated in partnership with high street banks. The aim is to help businesses employing up to 50 people to pay for vocational education or training.

Firms can apply for loans of between £500 and £125,000 to cover training costs, and up to £5,000 to cover consultancy advice on training. This scheme offers deferred repayment terms.

For small businesses this is extremely helpful in cash-flow management, allowing greater training and enhancing your attraction to prospective and current employees. For further details visit www.lifelonglearning.dfee.gov.uk.

Similarly, your employees may be eligible for funding to support their learning. There is all sorts of financial help your employees can get for their learning for course fees, books and equipment.

The help and support is out there. Training will become increasingly expensive to deal with the demands of the new knowledge economy, so new rules need new solutions.

Like this story? Spread the news by clicking below:

 del.icio.us     Digg this     reddit!