It’s a common misconception that eLearning is expensive, but in reality, moving to this method can save your business money.
Towards Maturity indicated that on average, organisations saw an 18% reduction in costs and saved 22% of time by using eLearning.
There are many case studies supporting this; British Airways announced that their eLearning programme would reduce training costs by £1.1m over three years and McDonalds indicated that they reduced their costs by nearly 50% by switching to eLearning.
But how can implementing an eLearning strategy save your business money? We have identified five benefits choosing an eLearning programme will have for your business so you can start to become more efficient immediately…
Travel costs
Transitioning to eLearning takes away the need to be in a specific location and therefore means no travel costs for you as a business. It’s learning that can be done anywhere!
Classroom training can be an expensive option for businesses as it requires a pre-determined location that both the trainers and trainees need to meet at. This means travel costs are usually incurred and, when added to the expense of the training itself, starts to add up, particularly for large corporations.
Virtual learning equals flexible learning, and this is the learning method of the future. Work ahead and start the transition to a more employee centred way of learning where they have the control.
Trainer costs
Using an eLearning method takes away the trainer costs and encourages positive, self-directed training whilst allowing managers to track, measure and support employees along the way.
This support is provided through audio, text, video, and other media to help provide the information. Varied media often keeps learners more engaged and therefore more likely to retain information.
Compared to in-person training there are limitations as to what can be shown and how information can be delivered and for you as a business, you’ll receive an extra benefit of money saving as you no longer need any trainers.
Venue hire
As previously mentioned, eLearning gives freedom to learn on any device in any remote location, meaning there is no physical cost to incur.
Using this method gives the benefits of flexibility and choice. When you provide them with this, employees are more likely to keep interest in the learning as it is not presented as a chore. And for you it’s another saving.
Empowering employees to choose when and where they complete training shows you trust them to manage their own training effectively, making them feel especially valued. This is often forgotten with in-person training as it is less suitable to varied learning abilities.
Reduces time out of work
With eLearning employees can access any module at any time, retain that information and carry out the task immediately which reduces time and helps with information retention. Overall, this means less time taken out of their working day and allows them put what they’ve learnt into action quicker.
We’ve spoken about ‘learning in the flow of work’ before and the demand for employees being able to learn throughout their working day is rising.
Classroom training means the employees have to be removed from their working day and brought into a separate room to carry out their training. eLearning solves this problem as it can be built into your employees’ working day, personalising training to make it more effective and enjoyable.
Printing costs
When eLearning, you’re able to embed links to resources online, allow revisitation to courses and best of all provide knowledge centres which can be linked at the end of courses which have no limit to the information you can provide.
As a business, it’s beneficial to reduce the negative impact it has on the environment to show your care in supporting causes outside of the scope of the workplace. Less printed resources mean, a smaller carbon footprint.
Additionally, it saves a business money etc.as well as that additional cost. Printing costs especially for larger training courses can produce heavy amounts of learning materials.
eLearning creates digital materials that can be viewed anytime, anywhere on any device. This makes it easier for employees to store training and re-visit at a later date.
So you now know how eLearning can save your business money. Why not find out more about our Bespoke eLearning courses and how we support your business?
