Post By: Kamy Anderson
Tips to Reduce Costs on Your Compliance Courses
Every business needs compliance training to ensure all employees meet the necessary regulations. However, compliance training can be expensive, as a lot of resources go into the equation.
You need to gather and organize proper training materials, utilize the right training tools that require regular maintenance, and have a team of experts to monitor the training and its outcomes.
Luckily, there are simple ways to reduce costs on your next online compliance training course. Here’s what you can do.
Utilize Compliance Training Software
Compliance training software is an excellent tool for ensuring compliance in your organization. It lets you use your existing training materials to deploy your course in minutes.
However, you don’t need to start from scratch. Many of these software solutions come with ready-made compliance courses that you can customize to your business needs and preferences.
Many of them feature a content library, which can save you time and money, as you don’t need to search for additional resources.
Compliance training software also lets you monitor your trainees’ progress, integrate quizzes and surveys to boost learner engagement and knowledge retention, and generate real-time analytics reports.
Eliminate Unused Resources
Have you evaluated your training program recently? Are there resources that your trainees don’t seem to be utilizing? A lot of your budget may be going down the drain.
Take the time to see what’s working and what might need a bit of adjustment. Perhaps there are unused resources that you don’t need to keep maintaining while others may just need a little sprucing up to start performing better.
Take advantage of your LMS software to get a closer look at all the metrics. Armed with that knowledge, improve your current training program to make sure your next course runs smoothly.
Create an Online Training Repository
An online training repository is a database where you can keep all your training materials. You can use it as a reference library for all your upcoming online courses.
That will save you time searching for new content when developing new courses, as you’ll have it all in a centralized location.
Think about repurposing various content types, such as webinars, to create training modules and store them in your repository.
Consider also granting access to your employees to help them brush up on their knowledge anytime. That would further cut your training costs, as they’ll be able to complete the courses faster.
Dig into External Resources
The online world offers a wealth of content related to compliance training, so you should take advantage of that.
Find articles, guides, tutorials, and anything else to provide your trainees with relevant information on staying compliant with various business regulations.
You can use such external resources to curate content for your courses. You can also share links in your online training repository so that your employees can check them out for further reading.
Use Templates for Compliance Training
Various compliance regulations keep changing, so it’s necessary to update your policies regularly. That also calls for updates to your compliance online training courses.
However, you don’t need to change a course from the ground up every time a policy or procedure changes. You can use a ready-made template.
Many compliance training software solutions come with a wide range of built-in templates that update changes in compliance regulations across industries. By using them, you can ensure your courses stay relevant and accurate all the time.
Identify Knowledge, Skill, and Performance Gaps
You may develop an excellent online training course yet still witness poor training results. That’s why it’s crucial to gain a better insight into your employees’ knowledge and skills.
Your LMS software can help you identify knowledge and skill gaps, as well as any performance issues. It can show you which areas every trainee excels at, and which tasks seem to give them the most headaches.
Once you better understand their strengths and weaknesses, you can design better courses that drive positive results. You can tailor them to your employees’ needs to make sure they efficiently and effectively retain all the necessary information.
Perhaps your training program is the one that’s lacking. Maybe some questions are confusing, so you need to paraphrase them. Whatever it is, your LMS software can help you diagnose the problem and tell you whether it’s a widespread issue.
Run an Online Training Workshop
Running an online training workshop is an excellent way to reduce your compliance training costs. It doesn’t mean that you should abandon your online courses, but rather enhance their effect with a high-quality workshop.
You only need a reliable video-conferencing tool at your disposal, and you’ll be good to go. You can talk about all the relevant compliance topics in your online sessions and give instant answers to all the burning questions your employees may have.
The smartest thing you can do is record all your online training sessions and make them accessible in your online repository. That way, your employees can revisit them anytime to refresh their memory and make sure they don’t miss anything important.
You can also use the recordings to create training modules for your courses. You can break them up into easily-digestible chunks for microlearning to boost knowledge retention.
Outsource Where You Can
Outsourcing may be the last thing on your mind when looking to reduce the costs of your online compliance training. However, you can actually save a lot of money if you outsource complex tasks that eat up a lot of your time.
For instance, creating branching scenarios can be very time-consuming. The same goes for designing real-world simulations or adding highlights and key takeaways to every training lesson.
If you outsource such tedious tasks, you’ll have more time to focus on the training.
Get Economical With Your Compliance Training Course!
Compliance training doesn’t need to be time-consuming and expensive. With the right tools, it can even be fun for both you and your trainees.
And with these simple steps, you can cut your costs, save time, make your training courses more effective, and ensure full compliance within your organization.
About the Author: Kamy Anderson is an ed-tech enthusiast with a passion for writing on emerging technologies in the areas of corporate training and education. He is an expert in learning management system & eLearning authoring tools – currently associated with ProProfs Training Maker