Investing in efficient training isn’t just a smart move- it’s a game-changer for your company’s profitability. When training is effective, productivity soars, operational inefficiencies shrink, and your business thrives.
But what happens when your skilled trades training isn’t meeting expectations? Maybe your employees are making avoidable mistakes, production levels are slipping, and even though workers are passing their tests, they’re not performing at their best on the job.
This is where calculating your ROI (return on investment) for your skilled trades training programs becomes crucial. ROI isn’t just a number; it’s a powerful indicator of how well your training is working and whether it’s genuinely cost-effective. If the data shows that you’re not getting the most out of your investment, it’s a clear signal that it’s time to explore strategies to optimize your training and boost efficiency.
Why Is Measuring Your ROI Important?
Assessing your skilled trades training ROI empowers your organization. It enables it to enhance its training strategies, improve content delivery, and align programs with business goals. Additionally, measuring training ROI promotes a culture of ongoing improvement, helping organizations adapt their training approaches based on solid evidence. By showing how training boosts productivity, enhances employee performance, and contributes to overall success, understanding your ROI makes a compelling case for ongoing investment in development and learning opportunities.
How Do You Optimize Your Training Program?
What if your ROI’s key performance indicators reveal that your employee training isn’t yielding the desired outcomes? Perhaps you’re noticing a decline in recruitment effectiveness, with new hires not staying as long or ramping up as quickly as before. Customer callbacks might be on the rise, indicating gaps in training, and overall expenses could be creeping up, impacting your bottom line.
These signs suggest it’s time to evaluate and optimize your skilled trades training program. By refining your approach, you can address these issues head-on and ensure that your training delivers the results your organization needs.
Utilize Technology
Leveraging technology in your training programs can dramatically reduce overhead costs and improve efficiency, optimizing your ROI.
Opting for online, virtual reality, or VR training platforms makes the learning experience more efficient by providing all the learning in one place. This eliminates the need for travel, reduces associated expenses for the worker, and eliminates the instructor.
Simulation (SIM) training provides an interactive learning experience that mirrors real-life scenarios, enhancing employee engagement and retention. Interplay’s 3D learning environment offers the safety of a virtual environment, making it a practical and effective training solution. This eliminates the need for an instructor or even a classroom setting. Instead, 3D simulation training can be done anytime and anywhere with Interplay’s mobile app.
Micro-learning involves short, focused training sessions that can be completed in 10-15 minutes. This approach is cost-effective and allows technicians to learn new skills quickly. It’s beneficial for quick corrections, spot training, and keeping safety lessons at the forefront even during time pressure. With device-agnostic technology, learning is accessible from any internet-enabled device, making it possible for on-the-job training. This type of learning requires less time and money to develop content than traditional training methods, partly because the format is shorter and more straightforward.
Perform Skills Assessments
Determining your workers’ skills gap means you won’t waste money creating irrelevant training materials. The proper assessment tool can take as little as 45 minutes per technician and can be completed from any internet-enabled device.
Interplay’s skills assessments help identify the training needs of new and experienced technicians, allowing for an efficient, more innovative, and more cost-effective training plan. Instead of a broad conference for all technicians, you can customize training classes for each individual. It’s one of the most effective ways to optimize your ROI.
Interplay Learning Assessments cover comprehensive skill sets and procedures for seven skilled trades:
With the comprehensive data from the skills assessments, you can pinpoint areas where your technicians require improvement. This targeted approach ensures that your training resources are used efficiently and effectively, first addressing the most critical skill gaps.
Interplay makes individualized recommendations for training courses to bridge those gaps. This approach allows you to set priorities among the various skills requiring improvement, move your technicians up strategically, and respond to project demands promptly. Additionally, it enables you to synchronize your training program with your budget.
Develop Tailored Training Programs
Understanding your workforce’s specific training needs is crucial. New technicians and experienced techs looking to upskill have different requirements. By leveraging data from the skills assessments, you can tailor your training programs to be more effective and targeted, ensuring that each technician receives the training to suit their specific needs.
This reduces redundancy in training and ensures that technicians learn relevant skills that will enhance their performance on the job and can increase your ROI. It also ensures that technicians receive the necessary training without wasting time on irrelevant courses. Customized training paths lead to more efficient learning and better performance,
Incorporate Gamification
Gamification is the process of adding games or gamelike elements to a task. This turns the task into a game-like activity that includes challenges and accomplishments. By gamifiying your training, your trainees can approach their courses as if they were playing an interactive video game.
Traditional skilled trades training usually involves employees gathering in a standard training room to listen to a lecture, watch a video, or attend a live presentation. Unfortunately, this often leaves them bored and disconnected, resulting in minimal material retention.
Gamified learning, on the other hand, captivates and maintains user engagement by incorporating short, interactive challenges paired with rewards and progress tracking. This approach encourages participants to stay focused and actively participate, ensuring they get the most out of the training.
Adopting gamification makes typical additional training costs, such as travel, accommodations, equipment rentals, and venue fees, unnecessary. Thus, training costs are reduced, and your program’s ROI is optimized.
Choosing Interplay to Optimize Your Training Program
Enhancing ROI while delivering high-quality skilled trades training is crucial for long-term success. By implementing skills assessments, embracing technology, personalizing training programs, and incorporating gamification, you can streamline your online training program for skilled trades. These strategies not only boost employee morale and retention but also elevate customer satisfaction, ultimately driving business growth and improving ROI.
Book a demo with Interplay today to invest in a training solution that aligns with your company’s goals. Don’t wait-stay ahead of the curve with the most effective and efficient training program available. Contact Interplay today for a transformative training experience that maximizes ROI and supports your company’s growth.
