ROI AND DIGITAL TRAINING
These days most companies and organizations have integrated eLearning into their training strategy. Now more accessible and easy to use, digital training allows for gains in time and productivity as well as increased uniformity in practices and an overall reduction in costs.
While measuring the cost of a training program is easy to do, the same can’t be said for evaluating the ROI (Return on Investment) of a training initiative since expenditure has always been difficult to quantify. This presents a challenge for those handling training programs who would like nothing more than prove the importance and effectiveness of their investment in training.
So, how do we measure and then improve ROI?
To better ROI, it is important to verify the cost versus traditional on-site training. This can be estimated across several criteria:
- The implementation of a training program management tool, known as an LMS platform is crucial. Its integration represents a variable cost according to the population and the chosen solution. Generally speaking, this works as a membership cost per connected user.
- The design and production costswill be higher for eLearning in the design phase, but they are quickly absorbed down the road.
- Logistical fees(planning of training sessions, inviting of trainees, etc..) are managed automatically by eLearning platforms and require the effort of one full-time employee per every 10,000 trainees! That’s an upwards of 80% savings.
- Displacement feesare nonexistent with gains from 30 to 90% according to the training program chosen.
- The mobilization of involved personnel, eLearning enables everyone to organize their training time according to their availability. Such flexibility is another source of gains both quantitatively and qualitatively.
Moreover, the ROI of eLearning versus that of on-site training increases considerably according to the number of trained staff, the lowering of the clients’ age and most of all the maturity of an organization in terms of eLearning.
In efforts to grow ROI, there are several factors to consider: the identification of a company’s objectives and creation of training programs aligned with those objectives; the choice of an LMS platform that registers essential data that is adaptable to the evolution of needs; the integration of dynamic and interactive content in order to engage and maintain the interest of trainees; and the prioritization of balanced content to ensure quality learning.
To this end, the Tactic! LMS platform delivers on making your training programs profitable thanks to its planning tools, follow-ups in real-time and detailed cost reports.
Caroline Irrmann, rédactrice web