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Wednesday, October 18, 2017

eLearning Saves Time and Money

Reduce Your Costs With Elearning

How much does eLearning save companies? If you’re thinking about eLearning and Learning Management Systems, it probably means you’re trying to cut your organization’s training costs. There are many significant reasons to take your training experience out of the classroom (or implement a blended learning approach), budgetary restrictions often act as the catalyst for initiating an eLearning investment. Generally, eLearning can cut costs in just about every area of the training budget.


COST REDUCTION

  • There is no need to pay for travel or find accommodation for your workforce.
  • You don’t have to pay a workshop leader or pull employees out of their daily activities.
  • You don’t need to pay for lunch or venue costs.
  • All you need is internet access.

How much will you save?

Of course, the answer is..."It depends". However, here's just one example - a client with about 2,000 employees requires annual compliance training. By converting the classroom based training to eLearning, they saved approximately $500,000 by replacing just one training event with eLearning!

Smaller organizations get a much greater “bang for the buck” with eLearning and online events.  While organizations put the nearly the same amount of effort into promoting and delivering quality content for both in-person and online events, online training simply reaches more attendees and costs less per attendee.  The typical organization averages nearly seven times more attendees for online training versus training seminars.  And, the cost per attendee is eight times more for an in-person training.

This flexible approach allows learners to work towards their self-development at their convenience.

For a personalized Return on Investment Model, please contact us and our experts will be glad to assist you in developing an analysis tailored to your circumstances.

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