{"id":18619,"date":"2022-11-15T17:22:25","date_gmt":"2022-11-15T15:22:25","guid":{"rendered":"https:\/\/www.talentlms.com\/blog\/?p=18619"},"modified":"2026-03-05T10:40:51","modified_gmt":"2026-03-05T08:40:51","slug":"avoiding-hidden-employee-training-costs","status":"publish","type":"post","link":"https:\/\/www.talentlms.com\/blog\/avoiding-hidden-employee-training-costs\/","title":{"rendered":"Peek-a-boo: How to uncover hidden employee training costs"},"content":{"rendered":"

Training isn\u2019t cheap, but not offering employee development can cost you even more in the long run. Understanding all employee training costs, even those that aren\u2019t so obvious, will help you provide useful content while staying within your training budget<\/a><\/strong>.<\/p>\n

There are plenty of ways to cut spending<\/strong> when it comes to employee development. Some common workarounds include giving all employees a set amount of money per year to get training on their own. Or, creating a library of helpful books and resources they can borrow as needed.<\/p>\n

But if you want a learning and development strategy that helps you achieve specific company goals, you need to plan it out more thoroughly. To pick the best approach, look beyond the price of a course and factor in all the associated employee training costs.<\/p>\n

The costs of not training at all<\/h2>\n

You likely know that upskilling and reskilling are good for business. Good education on key skills and tasks is key to improving productivity. But are you aware of how the absence of employee training can hurt your company?<\/p>\n

Failing to offer employee development can leave your staff unprepared to do their jobs. Less preparation leads to more errors in the work,<\/strong> lost time due to rework, and less satisfaction for employees who don\u2019t feel supported in what they\u2019re trying to do.<\/p>\n

Lack of training can also affect employee turnover, which can be a huge cost to your company. In one survey, 69% of employers reported upskilling and reskilling improved employee retention<\/strong><\/a>. Another survey found that 72% of remote workers<\/strong><\/a> would stay with a company longer if it offered training opportunities.<\/p>\n

Finally, when employees aren\u2019t up to speed on practices and policies in their work, it affects customer and stakeholder experiences. Mistakes or poor service due to insufficient training can leave customers dissatisfied and suppliers or stakeholders frustrated, none of which is good for your business growth.<\/p>\n

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What are the hidden costs of employee training?<\/h2>\n

Weighed against losing employees or customers, the not-so-obvious costs of training an employee likely won\u2019t seem so high. So what exactly are those costs?<\/p>\n

You should plan for the actual price you pay for training,<\/strong> including your LMS subscription, workshop enrollments, or online course fees. But there are some less apparent associated costs you need to factor into your budget as well, including things like:<\/p>\n