The three key areas that should be on your mind for 2023

As evenings get darker and the year draws to a close, we’re starting to look ahead to 2023. What can apprenticeship training providers expect going into the new year?

It’s been a difficult economic climate for training providers in recent months. The cost of living has increased at its fastest rate in 40 years, having a significant impact on training delivery.

Unfortunately, the outlook isn’t much brighter for next year. There’s a looming threat of a recession and the rate of inflation is expected to remain high for the near future. But it’s important to remember that where there are challenges, there are also opportunities.

Difficult conditions – like recessions – can provide a catalyst for operational change, as providers look for ways to cut costs and make systems more efficient.

With the right priorities, there are ways to not only survive next year but to flourish. Here are the three key areas that should be on your mind for 2023.

Improving operational efficiency

Businesses choose to weather recessions in different ways: some boldly invest, some cut costs severely.

Studies into business performance during three global recessions found that the sweet spot is usually somewhere in the middle. Companies that master the balance between cutting costs and investing tend to pull ahead once a recession ends.

A major step in achieving this balance is looking for operational cost savings. Those that thrived after recessions reduced costs selectively by focusing more on operational efficiency than their competitors.

Digital transformation

One of the easiest ways to save on operational costs is by introducing new technology – a process known as “digital transformation” or “change management”.

Introducing technology can:

• Help your trainers work more efficiently
• Reduce costs
• Increase scalability and productivity
• Deliver a better experience for learners, trainers and employers

It’s wise to expect some internal resistance when making operational changes. Most trainers and compliance managers are comfortable with familiar systems and processes, even if tasks take twice as long.

It’s no different when introducing new technology. However, you can alleviate fears by reinforcing the benefits, running training sessions and assigning mentors that can help new users.

We’ve written about how you can navigate pushback and get employees on board with digital transformation.

Focus on ROI

The other crucial point to consider when making a major operational change is, of course, return on investment (ROI).

The initial outlay for new technology can be daunting, particularly when you’re trying to cut back on costs. Conducting an ROI analysis will show you the cost savings in the long run and help you justify the price tag.

Take the learner onboarding process for example. If your new system allows you to automate parts of this process, you can bring more learners on board while employing the same number of trainers, increasing your overall profitability.

Employee retention

Recent research from the Association of Employment and Learning Providers (AELP) found that two thirds of providers are concerned about staff turnover next year. The AELP findings said:

“It is becoming difficult to retain and recruit staff on a trainer’s salary for a lot of higher level qualifications and financial standards, as individuals can attract much more by staying in the industry.”

There are steps that training providers can take to improve job satisfaction and reduce employee turnover.

Continued Professional Development (CPD)

Providing CPD isn’t just something you need to do for Ofsted inspections – it’s also vital for retention.

Offering development opportunities ensures your staff are confident in delivering consistently high-quality learning and know how to use the tools or technology available.

It can also stop the role from feeling like a dead-end job; ongoing learning will help them feel like they’re still moving forward.

Work-life balance

With the rise of remote working in the last few years, an increasing number of people are looking for flexible working hours and arrangements. Add in the pressure of rising costs and inflation, and it’s no surprise that trainers are more reluctant to travel for work.

Offering a blended approach gives providers and trainers the best of both worlds. Trainers can utilise technology to deliver the majority of learning remotely but still offer face-to-face sessions to encourage interaction.

Greater visibility over data

Being able to make accurate, informed business decisions based on real-time data is important in any economic climate, but it’s absolutely essential when you’re heading into a downturn.

Data will help you understand your strengths and areas of weakness, so you can spot red flags early and take action. Make it your mission to be proactive rather than reactive in 2023 by putting the right systems in place early on.

Do you know:

• Where your learners are on programme?
• Which learners have fallen behind or become disengaged?
• Which learners are unlikely to fulfil their off-the-job requirements?

Being able to pinpoint potential issues will be critical to your progress and growth. It means you can take steps to re-engage learners and stop them slipping through the cracks, before realising the issue when it’s too late.

Bud’s reporting suite allows you to easily access all of your training data. You can see an overview of trainer caseload or deep dive into learner success rates data by using custom filters. Find out more here.

Boost your team’s productivity with Bud in 2023

Bud is an intuitive, easy-to-use platform that streamlines the delivery of apprenticeships and vocational skills training.

With Bud, you can:

• Get a complete view of your organisation’s performance
• Easily track learners’ activity and identify any issues early on
• Save time and resources by working more efficiently

Want to find out more about how Bud could work for your organisation? Book a demo or chat with one of our experts.