Bottom line, a well-produced training video will save your organization money, help protect your firm against legal complications, and create a more effective way of training employees.
By having a series of training videos created you can cut down the high costs of training a new employee by having the new employees watch videos instead of paying an instructor to teach. According to Annie Mueller of Investopedia, even an $8/hour hire can cost upwards of $3,500 in employee turnover costs. Using videos to train compared to live action instructors can cut down on these costs. These videos can cover topics such as day-to-day tasks, HR policies, industry regulations, and even organizational culture.
Additionally, training videos are not just for new employees. They can also be implemented as a training tool for existing employees. According to a 2007 report from Training Magazine, companies spend on average $1,200 per employee annually in continuing education training. This number does not include the money spent to train new employees. Firms need to find ways to cut down the costs of training existing employees with new material. Think about a national restaurant chain: when they add a new menu item they have to retrain every staff member nationwide who will be preparing that item. The cost of sending training chefs around the country can become quite substantial. If the chain produced a training video they could send a downloadable link to the video to every restaurant chain location in the country; or even around the world. Having video training allows for employees to train at their own pace and on a schedule that works best for them. The video can be referenced as many times as the employee needs. After your current staff has been trained using this video, it can be added to the new employee video kit for new hires to learn from.
Training videos will also protect your organization from legal complications by ensuring that staff training is delivered consistently; the same way every time. You can have your legal and human resources teams look through the videos, and make changes when needed, to ensure that employees have been properly informed.
Training videos are also useful because employees can go back and watch particular segments as many times as they need to without distracting their supervisors or other employees. Overall a training video can be a much more effective way to train new or existing employees.
In short, a training video will in the end cut costs; help protect your organization from legal problems, and will overall be a more efficient and effective way to train your employees.