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At the end of last year,听the听听highlighted that investment in training among UK businesses had fallen to听its听lowest levels听since tracking began back in 2011.听This seemed to听indicate听that organisations are tightening the purse听strings听and,听in an increasingly challenging climate,听the first casualty is the L&D budget.听听

But cost-cutting when it comes to training听doesn鈥檛听have to spell a cut in quality or a delay in individual and organisational development. This is听because training听doesn鈥檛听rely on big investment, but on听better consideration of your needs, careful planning and ensuring you are playing to your strengths.听

As well as this, Welsh businesses听are able to听access听fully-funded听work-based learning from the Welsh Government. Meaning that听the only investment they need to make is time and ensuring their employees are supported throughout听their听learner journey.听

Here are some things to consider.

Training听isn鈥檛听a tick box exercise听

Training听shouldn鈥檛听be treated as something someone does听because they听have to. Attendance alone听doesn鈥檛听create the value, rather the change it yields听as a result of听what鈥檚听learnt听is听what鈥檚听valuable. Good听training challenges how a person performs, how a team听operates听and how a business can drive positive change.听

Organisations听who maximise their training budget听shift the question from听鈥榳hat training should we buy?鈥櫶齮o听鈥榳hat do we need our people to do better?鈥櫶齌his shift in thinking听reframes learning as a strategy rather than a听one-off听purchase.

Talent is right under your nose听

Before looking externally,听it鈥檚听worth taking a closer look听at what you have within your organisation. Many听businesses听assume they lack听certain听skills when, in reality, they听just听haven鈥檛听had chance to come to the forefront yet. Knowledge often sits informally within teams, built through experience but not听formally recognised or shared.听

Employees can often become accidental experts in their field, with a wealth of knowledge that they could be sharing with others. And that鈥檚 not just sharing within their team but to the wider organisation to help others gain new insight and skills. By utilising internal staff knowledge, businesses can reduce unnecessary spend and share skills that are particularly relevant to their operations.

Ensure change is the centre of your focus听

A common challenge in learning and development is focusing on the training itself rather than the impact it can have. It鈥檚 easy to measure how many people attended a course or enrol in a qualification, but much harder to measure what change it yields.听

The most effective training is听directly linked听to听real business听challenges and gives people the opportunity to apply new skills straight away. When learning is tied to practical,听measurable goals听that are听linked听to an individual鈥檚 role听it becomes part of听everyday work听鈥� meaning change听feels like a natural development rather than another task added to the list.听

When looking at training options,听keep in mind the goals you have and how this training will help obtain them.
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Apprenticeships are for everyone听

Apprenticeships are often misunderstood as being only for new starters or entry-level roles. This is not the case, in fact, they are undertaken by professionals at all stages of their careers as they offer a flexible route to develop skills on the job.听

From听gaining better insights into digital tools to becoming a听more confident听manager,听work-based learning offers progression in a wide variety of subjects.听听

ACT,听Wales鈥櫶齦argest training provider,听worked with more than听a thousand听organisations to help develop their staff.听The team works with businesses to understand their goals, ensuring that training becomes听a strategic tool for growth听both for the individual learner and their employer.

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If听you鈥檙e听currently looking at your 26/27 training budget, make sure听to keep in mind that the most important question听shouldn’t听be听鈥榳hat training can I afford?鈥�
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It should instead be 鈥榓m I making the most of the funding available to me?鈥� 鈥楢m I developing the people I already have?鈥櫶齛nd 鈥業s the training yielding the results we need?鈥櫶鼴ecause ultimately, the听organisations that are getting ahead this year听won鈥檛听be the ones spending the most on training, but the ones thinking about how learning can drive听the most听change.