Training and development is an essential part to every company. It plays an important role in ensuring competitive edge and at the same time, strengthens employee employer relationship. It is an industry standard practice to keep everyone abreast with the latest innovation. It enhances productivity and is a good investment to battle attrition.

Many companies make use of LMS`s or Learning Management Systems in providing periodic training and evaluation. These systems help monitor employee progress and provides feedback to better assist them in being more productive. But for the past years, training cost have been significantly high. Even LMS licenses have been expensive that only the big companies could afford.

With the dawn of the internet, LMS and cost of training have become more affordable. The competition with the introduction of many low cost online training programs have trimmed down the need for financial investment on this area. Web based training cost have been significantly reduced also because of open source LMS`s or training systems. And this is a very good sign for companies to explore on the different offerings available in the market.

The question whether to provide training and development is not a matter of how cheap or expensive it would be. In the end, these investments can provide an even bigger return. Cost effective trainings will reveal that ROI is not only on the financial side but this will also have relational and emotional impact on the employee in general. Training is a must for a company to succeed and that`s an absolute factor.