|
Click here to download the latest Flash Player |
| |
|
|
|
| |
As the credit crunch takes a firm hold over our economy and the prospect of a recession looms ever closer, there has never been a more important time to use resources more efficiency. e-Learning is now firmly established in the training mix as a cost effective method of developing people. With e-learning comes a whole host of business benefits including:
- Flexibility: allows learners to study where and when it suits them. This allows them to take advantage of quieter periods rather than have ‘premium' time away from work to attend training courses.
- Cost effective: when you take into account the full costs (including tutor and learners time) of running a training course.
- Just in time: allows learners to learn what they need to know now without having to cover a whole curriculum.
- Consistency: ensure you get the same message across to everyone without worrying which trainer delivered the course, did they have a good/bad day etc.
- Audit Trail: prove that your learners have completed the course and can demonstrate competence of the main learning points.
But how do we prove that these benefits actually save the organization money. There are many ways to calculate a return on investment and common ways include:
- Cost savings derived from training people with e-learning rather than face to face training.
- Improved morale = lower staff turnover = reduced recruitment and induction training costs.
- Preventative outcomes e.g. reducing cost of failure.
All 'return on investment' calculations need to be based on a number of assumptions for example how many people will we train next year; how many courses will this involve; what is the cost of tutor time.
DeltaNet International Limited has helped a large number of organisations to successfully implement e-learning and through this experience we have calculated a simple model for calculating ROI based on the cost savings by training people with e-learning rather than face to face training. The tool has been developed in Microsoft Excel and can be downloaded by clicking on the button below:
Download 'ROI calculation tool'
If you would like help using this tool or in calculating ROI using a different method please do not hesitate to contact Darren Hockley at darren@delta-net.co.uk or on 01509 611019.
Articles written by DeltaNet International that have been featured on national industry news:
|
| |
|
|
| |
| |
| |
|
|
|
