What are some of the ways that I can use to develop a low-cost yet effective training program for my employees?

Here are some of the low cost yet effective training program

- Cross Functional Trainings:  It helps to break the monotony and create interest in their day to day job , at the same time it enables them to try their hand and learn new things

-Buddy allocation:Allot buddy to new employees & and utilise skill set of trained resource. make sure you pair up with a right co worker 

Talking Office concept: paint office walls with learning illustration

Employee engagement games: bring learning games with fun 

reward & recognition to encourage learning new skills

give assignments to them , and make them to speak, check whether, they are making mistakes or not , secondly give test based on their assignment, based on 10, those who take 7, they are eligible to work , other wise , tell them to prepare presentation . 

I think self learning now a days is more important than training courses, try to to motivate your employees to use the online courses.