Cost of Employee Training

Many of the quantifiable costs associated with employee training can be eliminated or reduced with e-Learning in a Box™. Here’s how:

• Annual Training Hours – Businesses report that training made available on-line reduces the number of hours employees need to learn over the course of a year;
  
  
• Travel Costs – Reduced or often Eliminated because training is available 24/7 anywhere your employees have Internet access;
  
  
• Lost Productivity – Besides the obvious cost of travel (trains, planes and automobiles), lost productivity can also be estimated by:
  total employees × hours spent on travel and training per employee × average hourly salary = lost productivity,
  e-learning greatly reduces this loss;
  
  
• Cost of Renting Facilities – The need to rent facilities and bring workers to one location is reduced;
  
  
• Cost of Producing/Maintaining Training Materials – The initial investment to start training in e-Learning in a Box™ is quickly surpassed by the reduction in the time to create training, the ability to update, maintain and deliver the training via the Internet– sometimes in a single training event!;
  
  
• Instructor Costs – Not all training should be taken from instructor-led (or classroom) situations. However, e-learning does a better job of putting the learning in the hands of the learners, and eliminating the cost of hiring trainers or instructors: and it makes your instructors more effective. Blending – or reinforcing – the classroom with e-learning allows employees to learn more quickly, and better.

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Even More Savings
According to IDC, when a basket of objective and subjective calculations are included, U.S. firms report savings of 50 to 70 percent when replacing instructor-led training with e-learning.

The Conference Board of Canada found that employees said the following about e-learning:

• 83 percent said it increased productivity;
• 82 percent said it improved job performance;
• 98 percent said it contributed to personal development.

Nucleus Research reports that of all IT investment options in 2002, e-learning had the highest ROI. Benefits of e-Learning included:

• Reduced training costs
• Decreased learning time by an average of 40-60%
  (* Brandon-Hall -Web-based Training Cookbook)
• Increased information retention
  (J.D. Fletcher - Multimedia Review)
• Consistent delivery and user experience
• Wide access to expert knowledge
• Accountability, proof of completion and outcomes measurement

These benefits are achievable because of some unique characteristics of e-learning:

• Content is quickly and easily updated to reflect changes and additions in policies and procedures
• The capability to reach geographically dispersed populations quickly with a minimal impact to other business functions
• Training "in time / in place" that flexibly meets the needs and schedules of the learner
• The ability for learners to work independently without impacting other learners

Hidden Costs Removed
Hidden costs from errors that result when employees are not properly or regularly trained are mitigated with e-learning. When a medical provider does not complete a claim for payment properly, what is the cost of correcting that? What is the cost to the provider of additional submission time and delayed payment? Studies show when e-learning is done well, like when it is created, deployed and tracked by e-Learning in a Box™, employees learn better.

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