Embracing new learning methods has completely transformed the education and training industries these last few years. The ability to learn online has increased flexibility of learning and reduced building and maintaining costs.
Moreover, research has proved that online training can be more fun and engaging than other forms of instructor-led training. Online training can provide just-in-time training, and it leads to higher rates of retention. No wonder that even small-business entrepreneurs are jumping on the e-learning bandwagon.
However, when you're procuring buy-in from the people who hold the purse strings, the main advantage of online training to remember is the cost factor. Moving to a digital form of learning can translate into cost savings of more than 50%.
Here are 10 ways online training can help organizations save big.
1. Eliminating travel costs
The cost of travel has been rising steadily over the past few years, a trend expected to continue. Eliminating travel expenses can have a significant impact on training budgets, especially for global companies with offices across the country or around the world. Online training enables learners to access courses from a range of devices and from anywhere in the world, eliminating the travel cost factor.
2. Reducing administration costs
Web-based learning management systems keep all the administrative data related to training in one convenient place. Trainers can use those systems to automate tasks related to training administration, such as making training recommendations, sending announcements, and processing enrollments—drastically reducing administrative costs.