Sure, the idea of increased productivity and less time in the classroom sounds appealing, but for most management, the decision to change from traditional training to an eLearning approach probably boils down to the numbers. Leadership wants to see how eLearning can directly impact their bottom line, which means budget and savings. If you’re hoping to implement an eLearning program within your organization, all of the bells and whistles in the world won’t compare to a well-organized financial comparison.
Time is Money
We all know that time is money, but unless you quantify just how much time savings is involved once an eLearning program has been implemented, your argument might lack merit. eLearning saves time in a few different ways, but it mostly revolves around in-class time for learners and instructors, as well as travel time usually associated with training.
By ditching in-class training, an organization saves both instructor and learner time. In fact, the instructor probably has other responsibilities, which means training time takes time away from other projects. By the same token, learners are taken away from on-the-job experiences to essentially listen and talk about things that they could be practicing in real-time.
Combine that with the savings from having to shuttle both learners and instructors to various locations, and the idea of being able to access a module (smartphone) anytime and anywhere, becomes seriously appealing.
While it’s true that eLearning programs can cost a little more upfront, their long-term savings more than make up for that initial investment. Typical training programs eat up time, but they also eat up money each time the same program is delivered. Organizations must pay for the materials, travel costs, pay the instructor and even add some for overtime. A seemingly cheap program has a cost of delivery, and if it needs to be delivered again and again, your organization could be hemorrhaging money.
eLearning Costs Advantage
Contrast that to the startup costs of eLearning programs. While the organization will need to invest in the upfront costs, those costs are quickly recouped when the program can be delivered again and again for free. There’s no cost to share media online, initiate a forum discussion or answer quiz questions, meaning the investment is better spent.
Doing the Math
In the end, management will want to see hard numbers. By creating a clear spreadsheet contrasting current and traditional efforts when compared to the cost savings of implementing an eLearning program, the difference is obvious. By adding up instructor wages, time spent, travel time and costs as well as costs of delivery each time the program is issued, the benefits of swapping out traditional learning for eLearning is clear. Show management the money and you could be a catalyst for change in your organization.