Training on a Budget

In tough economic times many companies slash their training budgets, thinking that training is expendable. This, according to the author, is ill-advised. Training is not an expense to be minimized; it is an investment that pays dividends by helping workers do their jobs more effectively so that they can positively impact a company's bottom line.

Written byBrian C. Smith
| 6 min read
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Maximizing Your Training Dollars in Challenging Economic Times

In tough economic times many companies slash their training budgets, thinking that training is expendable. This is, in my opinion, corporate suicide. Training is not an expense to be minimized; it is an investment that pays dividends by helping workers do their jobs more effectively so that they can positively impact a company’s bottom line. Anything that improves profitability should be pursued, particularly when times are tough and profit is hard to come by.

This article will address the importance of continuing to spend money on training when times are tough, what training options are available, and how to maximize what you get for your training dollars.

How training saves labs money

I have made my living for more than 17 years as an independent trainer through my company, Spectros Associates. In that time, thousands of people have attended my lectures, and I have seen many examples of how training has helped companies save money or how timely and appropriate training would have saved money had it been pursued. Below are a few examples:

I once taught a course at a facility that was using a sample preparation technique that was time-consuming and destructive to the sample. I introduced the facility to a faster and easier method of sample preparation that was nondestructive. I heard from the company later that it had saved $20,000 in person-hours and material costs in the first month by adopting the new sampling technique. Thus, the training paid for itself in less than four weeks. How’s that for a return on investment?

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