Budget is always a concern for the organizations irrespective of the industry and size, organizations are putting continuous effort to cut cost and improve their bottom line. Learning & development is one of the areas which requires maximum resources. Providing learning opportunities and developing necessary skills to the employees is important to extract best out of their capabilities.
However, many organizations are reluctant to employee training because of the cost incurred in conducting traditional training like instructor based training or corporate training events. A regular training program involves several costs such as travel cost, material cost, trainer cost and another miscellaneous cost.
What if there is a simple and cost-effective way of reducing the training cost without sacrificing the quality?eLearning is an answer to this.
eLearning leverages technology to create impactful employee development training – with the aim of making learning interesting as well as effective.
eLearningis cost effective
Implementation of eLearning platforms helps you in taming down various costs associated with learning & development trainings.
a) Travel cost
It eliminates travel expense which creates a huge impact on the training budget. There is no need to pay for travel or find accommodation for your employees or trainer. You don’t need to pay for lunch or venue costs. All you need is internet access. Through an e-learning platform, your employees can access courses from anywhere with ease.
b) Material cost
No need to invest in materials like stationary and other equipment’s which you will normally require when holding a physical training session.
c) Trainer cost
As eLearning promotes self-development, there is no need to outsource your training to third-party training providers or invest in hiring trainers. You just need courses to upload.
Merits of eLearning
eLearning not only saves cost but also offers various benefits to the organization. Some of the advantages include increased productivity and employee retention, decreased learning time, and lesser training costs. By having on-demand learning modules, employees can access the training as per their need, when they need it most: on the job. This will save on additional hours of on-the-clock training. E-Learning also allows you to track completion, view outcomes, and increase accountability
eLearning provides employees with the freedom to learn at their own pace, when they want and where they want on any device (pc, tablet, laptop or mobiles). This feature allows you to provide same learning materials to employees in different locations.
Besides cost saving, it saves time too, in preparing and updating learning materials. It reduces time spent on the work.
eLearning makes learning more interesting through gamification, social & collaborative learning. Gamification brings more employee engagement.
Maintains quality & consistency
Imparting consistent training throughout the organization is a very important aspect of maintaining the quality of employee training. With eLearning, every employee even based out globally, get the same learning materials at the same time.
Adaptive learning leveraging Learner Analytics
Analytical capability of eLearning platform allows the organization to provide learning aligned to the needs and requirements of the learners. Learner analytics is being utilized to create learning objectives and path of the training.
eLearning does not complies to a one-size-fits-all approach, every employee is different and so the training needs are. eLearning provides freedom to employees to opt for course or training as per their role, skill & need.
Learning & development of employees is the critical success factor for any business.It can be achieved when the learners feel completely engaged and connected.With eLearning, it is now possible to provide the learner constant access to training, anytime, anywhere they need. Thus, reap the benefits of technology-aided learning and contribute to the development of employees.