stretching your training dollar
DESCRIPTION
When you\'re committed to performance improvement and training and facing the most significant economic down-turn in decades, what do you do? Money is tight. Financing is tight. Companies are being forced to trim expenses, including people. Management is holding the line on any discretionary spending. So, how do you make the most of the training dollars you do have .. and find funding when you don\'t.TRANSCRIPT
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S-T-R-E-T-C-H-I-N-G the Development Dollars
You Do Have . . .
Finding Sources for the Dollars You Don't
Presented by: Bob Hanson, Julie Berg, Judy Hartley
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Who Is HPA?Hanson Performance Alliance, LLC, is: • A group of 9 highly experienced consultants &
learning and development designers/facilitators. • We've all come out of industry with wide
experience as leaders and managers. • Our focus is organization effectiveness and
leadership development. • We're a virtual organization, not a brick and
mortar firm, which allows us to freely focus on specific client needs at very
competitive rates.
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What's the purpose of this session? • Engage you in shifting a few of your "training"
paradigms. • Take seriously the importance of ROI when
spending training $$$. • Asking the right questions in order to target your
training $$$. • Share some creative ways to S-T-R-E-T-C-H your
training budget and find sources for the additional $$$ you need.
• Share best practices, including what you and your
organization may be doing to S-T-R-E-T-C-H your development $$$.
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Create Return on Investment (ROI)
• It's what senior management wants and it's what WE want!
• Dare we say . . . "Training for training's sake is a waste of time and money". • Is it training or is it something else?
• Always ask: Why?
Who?
What?
How?
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Before you start training, make a PLAN!• Where do you start?
• While the "training" will be important . . .
Don't leave out the FRONT-END and BACK-END!
• S-T-R-E-T-C-H-I-N-G development $$$ means . . . Focusing on the right solution.
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Sourcing development dollars
• Apply for Government Grants (e.g. Minnesota Job Skills Partnership Programs)
www.deed.state.mn.us/mjsp
• Work with accredited institutions/state-registered vendors
• Match grant money 1:1 with hourly wages of
those in training • Use allowable % of grant money for soft skills
training
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Collaborate to stretch your dollars
• Offer your organization as a pilot group for new training programs
• Offer use of your facility to host training or marketing events
• Share costs of training programs with other non-competing
companies in your area
• Co-sponsor a program and invite others including your clients
and vendors
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Do training on the cheap• Take advantage of training offered by
equipment vendors • Expect employees attending public training
programs to teach
• Form SME study groups
• Re-purpose and re-visit existing content
• Check out Chambers of Commerce, local colleges
• Access content from the Business Training
Library www.bizlibrary.com
• Work with local training vendors
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Save training dollars - build or buy?
Considerations?• In-house resources and knowledge• Frequency of training over time• Access to off-the-shelf or company-owned
content • Availability of affordable outside resources
What's the right answer?• Leverage benefits of content already owned• Utilize internal resources to lessen time and
dollars required for design/customization and training
• Capitalize on efficiencies of outside resources
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However you fund it, maximize its valuePre-training communication is key to getting ROI• Link training to objectives
• Communicate expectations and measures
• Customize training to ensure it FITS
Continue an ROI focus DURING training• Make it practical and engaging
• Provide in-class application of skills and on-the-
job action planning
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Maximize value AFTER training
Readiness x Training x
Follow-through =
Results
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Make training a lasting experience
The Development Pyramid
Learning
Budget
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Sustain for the greatest gain
• Provide 'stretch' assignments • Cross-train peers
• Coach and mentor • Reinforce and reward
• Build communities of practice
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How do you s-t-r-e-t-c-h your development $$$?
• What are your best practices?
• What questions do you have?
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In closing, remember… S-T-R-E-T-C-H-I-N-G $$$ means . . . focusing on the right solution. Source & stretch dollars by:• Seeking grant money for training:
www.deed.state.mn.us/mjsp• Collaborating to fund and sponsor training • Looking inside your organization• Using affordable and flexible outside resources• Combining build/buy solutions
Readiness x Training x Follow-Through = Results Maximize ROI by: • Creating readiness with effective upfront communications• Designing training that is practical and application
focused• Providing on-the-job experiences, support and
reinforcement
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Presented to the Minnesota Council for Quality by:
Hanson Performance Alliance, LLC
10861 South Shore DrivePlymouth, MN 55441
Phone Number: 612-860-5358BobH@HansonPerformanceAllia
nce.com
August 6, 2009
Bob Hanson, Julie Berg & Judy Hartley