If your company knows about two ways of completing a critical business process, and one of them costs nearly half with higher efficiency, which way will you choose?
Well, who doesn’t like more money or better results?
Many of us will go for the more economical and efficient route, and some of us may wish to enquire a little more about the efficiency of the cheaper method.
The end goal will still be the same; to do more by spending less.
And that’s what businesses have been doing with eLearning.
Studies report that a large number of corporations have been able to save between 50% – 70% after they replaced their traditional training methods with eLearning. [Source: IOMA 2002]
Great savings, right? Let us see how this could happen.
1. eLearning Excludes The Need Of a Permanent Trainer
The best thing about eLearning methods is that they don’t require a permanent trainer.
We know how traditional training programs are, right? A trainer has to be physically present for all training sessions.
This adds up to the overall training fees, including several other expenses like travel etc.
So, if a course has to have 20 sessions, the trainer will have to be available for all of them. However, all the eLearning content for any course can be recorded once and then divided into sessions and played.
This obviously saves money.
2. Flexible Timings
Yes, eLearning courses provide the flexibility of time. But how does that save money?
Well, flexible timings of eLearning programs make sure that your employees don’t have to take time out of their work hours for attending any training sessions.
For attending traditional training sessions, they may have to halt the work that they are doing and later come back to it.
This also has adverse effects on the overall productivity of employees.
In the end, all of this comes down to missed deadlines and workload anxieties.
We’re sure you wouldn’t want that for your employees and organization.
3. Minimal Printing Costs (If Any At All)
Traditional classroom methods often require training material to be printed out and distributed among the learners or employees.
As a result, the learning audience has to pay more for the training material that would have cost way less if it was digital.
Also, the printing of training materials means that the overall paper usage spikes up. This is also harmful to the environment.
However, in online training methods, such issues are not there. All you need to do is pick one of the best online learning platforms as per your needs and take it ahead from there.
4. No Need to Rent Training Venue
As traditional classroom training needs the physical presence of trainers and learners, there’s also a need for having a training venue at your disposal.
And when you don’t have that, you have to consider renting options.
This also adds up a significant amount to the overall training cost.
As a result, the course becomes expensive for the training organisation, i.e., your company in this case.
5. Minimizes The Loss of Productivity Due To Boredom
Traditional classroom methods can often come off as boring to the learners. This can make them less productive and attentive towards the course.
However, with modern eLearning methods, you can gamify your company’s employee training process. And the best part? You wouldn’t have to spend more.
Just make sure you buy the right authoring tool and LMS with exciting gamification features.
Final words
As employee training is one of the most critical business processes that many companies must work on, it’s crucial to find efficient and cost-effective ways of doing so.
eLearning cuts to be a priority here. And in this post, we talked about why it has been able to save great deals of money for many corporations.
Hopefully, this was helpful.