20 Ways to Stretch Your Training Budget
We all know that in our industry, as in most industries, well-trained associates are critical to our companies’ success. Unfortunately, we are rarely allocated enough funding to design and conduct the kind of comprehensive, all-out training we wish for. And now, given the struggles our industry is facing, many of us are finding our already limited training budgets slashed. That’s why it’s more important than ever to keep a close watch on our expenses and to find creative new ways to make our training dollars go further. Here are 20 ways to help you do just that!
Make the Most of Technology
The Internet and email bring a whole new set of options to the process of communication—and when they are used effectively and consistently, they can save enormous sums of money.
1. Use email to send quick “reinforcement” messages. Nothing could be easier or more economical. Create mailing lists of employees who should all receive the same message, and email them once a week with a reminder of a key point you want them to remember. There are many software programs that can be used to automate the process. Make training materials available online. Don’t automatically opt for the default method of printing out and distributing all employee manuals and training materials. Some might be equally, or even more, useful in an electronic form. Look for ways to cut printing and/or copying costs by going paperless whenever possible. By making your training materials online you’ll also give instant access to employees who want a refresher or added information.
2. Combine teleconferencing and online learning. If your company has an intranet and if your trainees all have computers with Internet access, you can create inexpensive, yet effective mini-training or refresher sessions—complete with visuals. Post a PowerPoint presentation on your intranet, and choose a convenient time during which your trainees can all be stationed at their computers and near a phone. Initiate a conference call to the trainees, and have them log on to the appropriate section of the intranet. You can then present your information, and they can follow along slide by slide.
3. Create a training chat room and/ or Bulletin Board. Create a dedicated online space where you and your trainees can interact at any time. You can have your programmer establish a chat room on your company’s intranet or, if you aren’t lucky enough to have one, simply create one on one of the many chat websites available (such as Yahoo). Once you have established a chat room, think of creative ways to use it. For example, you could hold periodic topic-specific chats, inviting associates to join you in a discussion of challenges and best practices on a range of issues—a great way both to reinforce training messages and to instill a sense of team among associates from multiple properties. You could also host “guest speaker” chats, in which you spotlight a particularly successful associate and have him or her share tips and answer questions. A bulletin board gives you employee a place to ask questions that other will benefit from and share ideas or programs that have worked for their community.
4. Consider delivering at least part of your training via e-course. It may be hard for you to imagine that an online course could generate the same enthusiasm and hands-on learning as a good face-to-face training session, complete with role-playing and other active learning methods. But remember—not all training topics require the same level of “immersion” as do leasing and resident service techniques. Some topics—such as Fair Housing, sexual harassment, workplace safety, and so forth—may lend themselves readily to an online course. Developing an online course might be time-intensive and even somewhat costly up front (depending upon how sophisticated you want it to be). But in the long run, it can save serious money by reducing the amount of time trainees have to spend away from the office for training activities, as well as trimming related travel expenses.
Look for Inexpensive and Creative Approaches
5. Pulling employees away from their communities for several days of training is becoming more and more problematic. With communities already thinly staffed, sending employees off to training is difficult for onsite managers—not to mention expensive. It’s becoming increasingly clear that we need to find ways to “shrink” training into more manageable chunks and to provide it in creative new ways. Try some of the following.
6. Train one employee to train others. Whenever possible, choose one motivated employee to attend training and then make her responsible for presenting what she learned to her colleagues. Not only is this a cost-saver, but it’s also a great way to develop and reward high-performing employees who are eager to take on additional responsibilities.
7. Create job aids. Reinforce your training messages even when you aren’t around by giving employees easy-to-access “cheat sheets” that list key points you want employees to remember. For example, you might create stickers that list important questions to ask a telephone prospect, and attach one to each leasing professional’s telephone.
8. Create training modules “to go.” Credit for this clever idea goes to Kara Rice, co-founder of Grace Hill. In her presentation at Annual Multifamily Housing Brainstorming Sessions Training Trends luncheon, Kara suggested that you find good print resources that address various training topics, write up a pre-test and posts-test for each resource, and package the tests and the book in a zip-lock bag. You’ll have a lending library of mini-modules that you can loan out to associates who want or need to learn more about specific topics.
9. Have a sleepover. Invite leasing and management staff to spend the night in some of your vacant/model apartments. Have staff members use the appliances, make dinner in the kitchen, hang their clothes in the closets, and generally get a feel for what it’s like to live there. Meet in the morning to discuss what they learned from the experience and to brainstorm ways to improve the apartments for the residents. Jennifer Robinson, of KSI Management, tried this and found that it was an incredibly useful training experience—all for $20-30 worth of food the staff used to use to prepare their dinners.
10. Use job shadowing. Cynthiann King, (Chief Learning Officer of C. King Education Services ) suggests having office staff spend some time with “superstars” either in the multifamily industry or in other industries. Call your local apartment association and ask for the names of winners of local leasing awards programs—then contact them and ask if you can accompany them on their next tour. Outside our industry, try shadowing large-scale hotel banquet managers, real estate agents, or travel agents for upscale travel agencies.
11. Borrow from the pros. Take a look at what other companies are doing—both in and outside our industry—and modify it to fit your needs. There’s no need to spend time and money recreating the wheel!
12. Make the most of your time. According to the American Society for Training and Development, when trainees only hear information presented—and do not discuss or interact with it in any way—only 10 percent will retain it 6-8 weeks later. When they practice the information when it is delivered, however, the number goes up to 80 percent. So don’t fall into the lecture trap; fill your sessions with interactivity and application. Training time is precious and hard to come by—use it wisely!
Trim Travel and Meeting Expenses
There are a number of cost considerations that you should be conscious of when planning classroom training. From travel to lodging to food to presentations—the little decisions you make can add up to big dollars spent or saved!
11. Work with your airline. If you frequently have staff members fly in from out of town, see if your air carrier can offer you any sort of discounted rate. If rates are non-negotiable, ask about getting extra frequent flyer points.
12. Get all you can from your hotel. When choosing accommodations for training attendees, look for extras that will save money and make your life (and the lives of your trainees) easier—shuttle transportation to and from the airport, early check-ins, late check-outs, in-room internet access, free continental breakfast, etc.
13. Book in advance. If you will be having trainees coming into town for a number of training sessions over several months, and if you know in advance when those dates will be and how many will attend, book lodging for all the sessions at the same time, with the same hotel or chain. This will give you leverage to negotiate a better deal.
14. Keep travel distances as short as possible. Locate your training sessions strategically, and pick a location that will allow the maximum number of trainees to drive to and from the session without spending the night.
15. Use your own space wisely. Instead of renting meeting space, assess available space at your nearby properties to see if it could used. For example, perhaps you could hold whole-group meetings in the clubhouse, and breakout sessions in vacant apartments.
16. Reuse supplies. Look for ways to pinch pennies by recycling what you can from one training session to the next. Some items that may be eligible for recycling include: plastic name badges, all types of signage, table or room decorations, visual aids and props, etc.
17. Be smart about snacks and drinks. Consider serving snacks that are individually packaged and will keep, so that what is not eaten at this session can be used at the next. Also, eliminate waste by going for smaller versions of treats and drinks—mini-soft drink cans, bite-sized candy bars, small bags of peanuts or granola, bite-sized doughnuts, etc.
18. Ask for help from your vendors. Talk to your vendors to see if they would be willing to “sponsor” part of your training. For example, they could provide a breakfast or lunch, donate trainee gift bags or favors, or sponsor a cocktail hour “meet and greet” for trainees.
19. Learn from experience. Always keep track of how many attend and what is consumed/used at each training session. It will help you know how much food and beverage to order for similar sessions.
20. Share the cost. If there’s a speaker you’d especially like to hire, but can’t afford, consider teaming up with other companies in your area. If the topic is fairly general, you could approach almost any sort of service-oriented business (hotels, restaurants, retail, etc.). For topics specific to the multifamily housing industry, however, you would probably need to join forces with your competitors; even so, it may be worthwhile. (Thanks to Cynthiann King for this great idea, which she shared in her breakout session at Brainstorming 4 years ago!)
