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Cruise Control Training Blog

Observations, Commentaries and Strategies for the Training Professional.

Have You Ever Witnessed a Training System
That You Would Love to Own...
But Thought Was Too Expensive to Afford?

 

 

Here are some interesting facts (from a "cost savings" perspective) that I thought I would share which present a strong argument for bringing your training program... online.

 

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 – is reduced significantly and updating, maintaining and delivering your content is quick and simple.

 

Instructor Costs – A careful blend of instructor-led and system-led training is the perfect balance. Elearning 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.

 

 

Let's Get Into Some Facts.....

 

According to IDC, when a collection 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. You can download the study here.

 

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 (click to view the report) reports that of all IT investment options in 2002, e-learning had the highest ROI. Benefits of e-Learning included:

 

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Reduced training costs

 

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Decreased learning time by an average of 40-60%
(* Brandon-Hall -Web-based Training Cookbook)

 

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Consistency and frequency of user experience increased

 

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Key documents and presentation access 24/7

 

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Accountability, proof of completion and outcomes measurement

 

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Increased speed and retention levels (J.D. Fletcher - Multimedia Review)

 

 

Why all the good news?? Is there more?

 

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Content is quickly and easily updated to reflect changes and additions in policies and procedures

 

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Able to reach geographically dispersed populations quickly with a minimal impact to other business functions

 

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Training flexibly that meets the needs and schedules of the learner

 

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Learners are able to work independently without impacting other learners

 

Look to the Hidden Intangibles.....

 

Hidden costs or "intangible" costs from errors that result when employees are not properly or regularly trained can be prevented with the right training frequency plan in place.

 

When a salesperson doesn't close the deal because of a training related issue - what's the cost to you of a lost sale? $100? $20,000? When a medical provider does not complete a claim for payment properly, what is the cost of correcting that?

 

Studies show when e-learning is done well, systematically..., your training becomes more effective, you're able to solve problems quickly... and most importantly - employees learn better.

 

E-Learning can be one of the most important investments you make this year. OmniTrackPlus is an elearning management solution that solves problems and will save you money.

 

Call us today: 877-791-4367 ext 85 or click here and contact us by email.