Comparing Costs of Corporate Training Videos for In-House Training
Example: Lean manufacturing training videos.
Videos are a favored medium for training due to their ease of use and flexibility in a training curriculum, but budgeting for student and employee training can be challenging when factoring in the need for specialized training vs standardized training. Here is a helpful analysis of different types of corporate training videos and things to consider when investing in your training program.
Custom Employee Training Video Cost:
Costs can be prohibitive for customized student and employee training videos. Depending on the level of complexity, prices typically range between $500 to $1500 per minute of the finished video. Due to high costs, this option is usually reserved for very specialized topics which are unique to an industry.
Off-the-shelf Employee Training Video Cost:
For standardized training, the preferred option is off-the-shelf Employee training videos. This is the most cost-effective option for topics that are universal and timeless. Topics like Lean Principles, Electrical and Mechanical Training, etc., are the same regardless of industry or year produced. For “timeless topics”, off-the-shelf Employee training videos give a great return on investment when it comes to your training budget.
Online platforms such as YouTube may provide free training videos on a variety of standardized topics. However, it is important to remember free content providers are not obligated to provide correct information. For this reason, all free training videos should be evaluated for accuracy before being included in a training curriculum.
Business Industrial Network provides Off-the-shelf Employee Training Videos on these topics and more:
5 Lean Manufacturing Training Videos For Your Lean Training Program.
Employee Development Lean Training Videos
(Single User Price $99 — $149)
- 5S Lean Training Video
- Problem-Solving for the Workplace Video
- Jidoka Training Video
- Kanban Training Video
Licensing Options for Employee Development Training Video:
Yes, we have free versions on YouTube, for the individual learner who is ok with that delivery method. But the USB copy licenses below do not require the internet to access. So, they are safer and more effective for a company or school.
Single User: An individual wanting to learn, or an individual instructor just wanting to show the video on TV or computer to a class. Price range: $99 — $149
Site License: Unlimited Users per physical location (‘Site’), authorization to be used in your own training material if it remains accessible only in the licensed facility and videos are not edited. Price: The cost of ten single-user licenses.
Enterprise License: Similar to nonexclusive rights, unlimited sites plus content may be modified and included in new material to be sold publicly. Price: The cost of ten site licenses.
The Takeaway: Don’t let the excessive cost of custom video creation keep you from increasing the training you make available to your employees. There are cost-effective alternatives out there. Employee training is one of the greatest returns on your investment.
According to Training Magazine’s 2021 Training Industry Report,
The average company in the U.S. spent $1,071 per employee that year on training costs.
That is $40 less per person compared to 2020. While a big part of that decline is industry volatility and inflation, baked into the historically low employee training investment is the cost of custom video production mentioned above. Unfortunately, many do not realize how much less expensive the better solution, employee training software is. Even highly interactive training software and simulation software can be a more cost-effective solution too.
Take our highly interactive training software for example.
Highly interactive training software with built-in simulations.
We take a similar pricing and licensing approach as we do with our employee training videos, with our off-the-shelf automation control training course software, electrical — mechanical training courses software, etc. Supplying your company or school with a more cost-effective in-house training program development resource and keeping with our Best for Less directive.
