How Much Should You Spend on Online IT Training Every Month
Skill development and enrichment is an essential part of any professional career. It is a necessity to keep pace with the requirements of the professional climate, and this is especially true for the IT industry.
With the emergence of radical technologies in just about every industry, especially in IT, organizations cannot afford to be rely on ‘tried and tested’ approaches and tech, while the competition succeeds by taking advantage of innovation. It has never been more important for organizations to adopt training sessions that enable employees to understand trends, implement them, or even impart the same knowledge to others in the organization.
Increasing Organizational Interest
Today, you will see organizations attend and arrange seminars and workshops. Enterprises are investing time and money, training and developing employee skills and operational capabilities, as well as introducing employees to technological innovations such as VR and Artificial Intelligence.
Artificial Intelligence, as a tech trend, went through a monumental rise in popularity in the past five years. The term Artificial Intelligence emphasizes the creation of intelligent machines that think, work, react and learn close to (ideally on the same level as) human cognitive and analytical capability.
For an organization belonging to the IT industry, it is paramount to get acquainted with such promising technologies. Also important, is to have a dedicated online IT training budget for each month.
But some companies, especially startups, do not always know what such training would mean for them. Or, how much should they spend towards online IT training every month.
IT Training Leads to Better Quality Output
For the most part, organizations choose not to initiate IT training due to either lack of interest in employee development, lack of resources, or a misguided belief in the adequacy of existing skills and systems.
Training costs time as employees attending training sessions miss out on work. This can lead to delays in deliveries and overall project completion. Even despite such a risky investment, training for IT proficiency must be a vital aspect of an employee’s professional existence. Training employees can not only lead to increased productivity and comprehension prowess, but also improvements in morale and overall confidence in the workplace. Moreover employers need to realize that training will lead to improved practical performance on the employees’ part, albeit at the cost of some delays in their assigned tasks.
The Cost of Online IT Training
The second reason why organizations often skip training is the inherent cost of training employees. It could be due to previous attempts that were unsuccessful. But, long gone are the days when organizations had to host seminars, invite key speakers, bear the expenses of the entire venue, and more. Online IT training programs negate most of the costs involved.
Employers can make it mandatory for employees to attend online programs during their stay. Review deadlines will allow employees to learn with flexibility. However, employers should be open to providing relief from other work commitments so employees can focus on self-learning.
When it comes to the amount that you should spend, it all boils down to how much you believe training will boost results. You can set up in-house training sessions. If you have hired, say, a blockchain expert, then leverage the opportunity to have other teams’ members soak in the experience and knowledge of that individual. That way, you can compensate your own people instead of hiring outside help.
Secondly, as we discussed, online IT training programs can easily be purchased on the internet. Ask your employees to go through them. But here’s one pointer you must keep in mind; do not spend on every course that you come across. Buy only those that either build on the expertise your organization is best known for, or those that provide exposure to new technological trends.
Cost is very important, especially for startups who generally have a limited budget to operate with. At an estimate, the cost of training an employee through online IT training programs, per year, is not likely to cross over $800. The reduction in training costs due to online-only training provides the added benefit of greater ongoing training scope, since training more employees will be possible within the determined budget.
If you are looking to train only a select group of people, it will help knowing what their skills are and which courses will improve upon that skill-set.
Measure Your Results
Just like any other type of investment, it will be important for you to measure how successful your efforts have been. It is ideal to allow a period of one year from the commencement of training.
This phase is also important. It will allow you to judge whether the amount of money you spent on online IT training has been worth it. Evaluate, then plan the next phase of training accordingly.
The benefits of training should not be argued, but rather the effectiveness of your courses should be reviewed. Employee training should not be seen as a luxury but as a vital part of a company’s culture. Organizations must have the wisdom to understand that high-performing employees will lead to better output quality – it is ultimately for the betterment of the company.
CEO, 360training and QuickStart
Ed Sattar
Sattar has invested 20 years in the e-learning industry and made significant contributions across multiple industries. His experience includes extensive research and consulting to convert training into high-impact personalize learning experiences for a modern learner. He innovated how to deliver compliance training through a learning management system without comprising learner retention. Most recently , he has developed a unique proprietary Instructional Delivery Methodology called QS Learn, embedded into the industry's first cognitive learning platform, CLIPP, which is based on artificial intelligence. During his tenure, he has identified key criteria and e-learning compliance standards that are currently being published and implemented.
Ed Sattar has been nominated for the Ernst & Young Entrepreneur of the Year award three times and was among the top seven finalists in 2009. He has appeared on the Deloitte Fast 50 as the leader of the 6th fastest growing company in Texas, was awarded the Economic Engine award, the Greater Austin Chamber of Commerce Award, was featured in CEO Monthly and got the companies listed in Inc 5000 several times as one of the fastest growing companies under his leadership.
Ed studied Electrical Engineering and Finance at the University of Texas at Austin.