Large and small companies throughout the world are implementing online training to drive productivity and maintain their competitive edge. You could be doing it too
The worldwide economic recession has prompted companies everywhere to scour their business practices for opportunities to increase efficiency and cut costs. That includes how they train their employees and customers. Fortunately, when it comes to training, the pathway to meeting both objectives is clear. Companies of all sizes are discovering the benefits of online training.
Return on Investment (ROI).
Members of the training profession often debate the hard and soft performance gains from employee training in today’s workplace, but on one subject there is no argument. As much as 40 pence of every pound spent on in-person training goes to travel and lodging costs. Avoiding that expense should be a primary goal of any organization. The single most effective way to eliminate in-person training related costs is to replace classroom instruction with online training. A simple ROI analysis of the savings can underscore the point within your own organization. Calculating such direct savings is not rocket science.
The standard ROI equation calculates Return as equal to Benefits divided by the Cost of the System. Easily determined hard savings include reduction in travel and training budgets, instructors, physical facilities, training materials, administrative time, and hours of lost productivity when the employee is off-site, Less easily measured are improved productivity and proficiency, learning curve, retention, employee satisfaction, and morale. Our online training courses for one of the UK’s largest retailers will be saving them in excess of £400,000 per annum! That is huge!
At a Glance: 10 Reasons to implement online Training
1. Avoidance of travel costs.
As much as 40 pence of every pound spent on in-person training goes to travel and lodging costs. Those and other fixed expenses are avoided entirely when online training replaces classroom instruction. The result is dramatically lower costs per-person trained. That fact alone often justifies the switch to online training.
Instead of mandatory travel to a single location to receive instruction, busy employees and others can participate in training and meeting sessions on their laptops at locations convenient to them. They can complete the training at a pace that suits them. Our online courses have an unlimited shelf life if purchased, once assigned to a delegate they then have a 12 month period to complete the course. A Level 2 qualification takes on average between 6-8 hours to complete.
3. Increased retention and productivity.
Collaborative learning events increase participant retention and satisfaction, resulting in higher productivity. Factors include more time on the job with the elimination of instructional travel. 40% of new staff that do not receive training in the first 12 months, leave their job.
Online training can be held with complete assurance for the safeguard of valuable intellectual property with password-based user authentication, end-to-end encryption and other available security features.
Rich interaction capabilities with and among participants are a principal benefit of online training. Tools include dashboards, polls, and question/answer capability, enabling participants to interact and presenters to obtain instant feedback. Our online training platform is the most engaging and interactive on the market.
6. Informal learning.
The ease of launching spontaneous Web-based meetings corresponds with today’s emphasis on informal learning, a growing segment of corporate knowledge transfer within many organizations.
7. Ease of preparation.
Some online training applications can be easily mastered and immediately employed by subject matter experts without IT support. This will increase their motivation to consider online training when the need to communicate arises. Our online platform enables managers or business owners to have admin rights and full control over the data reports, assignment of courses and the monitoring of their employees progression.
8. Ease of reporting and analysis.
Built-in reporting capabilities allow moderators to track attendees for each course including course progress, results and course allocation. This is especially useful for student evaluation, as well as compliance and other mandatory training where specific reporting is required.
9. Accessible data.
Readily available data also enables appropriate and timely followup, including evaluation and immediate contact of participants. That is especially valuable for customer training, and sessions where time-to-market urgency is important.
10. Enhanced organizational productivity.
Busy executives and other SMEs can get multiple usage out of online training applications. This means less time spent on planning and managing activities.
Are you qualifying your staff? Why not test our online training courses and see why we are trusted by some of the UK’s largest organisation
CEO & Co Founder
Spearhead Compliance Training
0121 368 0792