Why Credit Unions are Adding Webinars as Training Option
November 27, 2012
By Laurie Sponholz, President and Owner, Financial Education & Development, Inc. and the Credit Union Webinar Network
In today’s economy, cutting the training budget is a time-honored way to save money in the short-run. But this does not eliminate the training manager’s ultimate responsibility – to ensure employees have the information they need to get the job done. Maximizing training budgets and achieving more with less are critical issues for training managers. To address these challenges, savvy managers are adding webinars as a training option, because the benefits for the credit union and webinar attendees are significant.
What is a webinar?
A webinar is an online, virtual training session. Attendees view the presentation on their computer screen and listen to the audio via their computer speakers or telephone. Interactive capabilities allow communication between the presenter and the audience for questions, polling surveys, etc.
What are the benefits for your credit union, training department, and staff?
- Cost Effective: The cost of attending a webinar is typically much lower than in-person training. Several participants can view the webinar from one location and pay for one connection fee. Webinars eliminate travel costs, including reimbursement for gas, meals, hotel expense, and overtime. These savings result in an extremely-low per-person price compared to other training options.
- Increased Productivity/Convenience: Because the computer is the conference room, participants can view the meeting from their desk without travel or downtime before or after the meeting. Webinars are commonly 60 to 90 minutes and delivered during the business day to fit staff and managers’ tight schedules. Learning takes place in a comfortable, relaxed environment with facilities and materials needed close at hand. This also reduces the need for evening or early morning training sessions which take staff away from home and family.
- Economies of Scale: Because several people can participate in the training for one fee, the training cost per person is significantly reduced. Additionally, an archived or on-demand version of the webinar is often available. This allows participants in various departments and/or branches to view the webinar for a single fee, making the information available to a dispersed audience. Since the archive is not “live,” it can viewed when convenient 24/7 allowing participants that could not attend to participate.
- Long-Term Value: Many webinars allow you to access the presentation for a specific period of time after it has been presented. This allows participants to review the information and access the handouts and tools as many times as necessary to facilitate the learning process.
- Ease of Use: Registering for and joining a webinar is as easy as logging onto the web. Most webinar applications require a standard computer browser and the ability to access the Internet.
- Less Administrative Planning/Scheduling/Cost: Registering for and communicating a scheduled webinar to staff can cost 75% less than organizing and presenting a face-to-face meeting.
- New Regulations & Timely Topics: Webinars can be developed and delivered in less time than in-person training. This allows your staff timely access to training on new regulations and hot topics.
If you’ve been on the fence about webinars, consider adding them to your training options. They are an ideal training solution for leveraging time and resources in order to educate more people.
The Northwest Credit Union Association (NWCUA) partners with the Credit Union Webinar Network to offer more than 100 webinars annually. For more information, please visit nwcua.org/events or call 800.995.9064 x109.
Questions? Contact Training Programs Coordinator Yuri Jung: 206.340.4817, firstname.lastname@example.org.