Let’s compare—how much can you save with your own LMS?
Learning online can prove profitable with the right approach. Learn the benefits that Learning Management Systems can offer you and your business here.
Learning online can prove profitable with the right approach. Learn the benefits that Learning Management Systems can offer you and your business here.
Investing in learning and development provides countless benefits and advantages to both your employees and your business.
Investing in learning and development is usually a profitable investment if implemented effectively. Having a training program that aligns with your company’s objectives and allows your employees and business to develop should be a priority.
The cost of training can make businesses apprehensive. However, if properly measured, the value it can provide makes it an essential element within any budget.
Some of the financial benefits include:
Many companies invest in employee retention strategies, with initiatives to entice employees to increase their brand loyalty. Making employees feel valued, offering challenges and providing opportunities for them to develop their careers are the key ways to increase employee retention. Employee benefits are costly, but with Google handing out bicycles and daily free lunches for its employees, standards have been set high. Investing in eLearning training is an affordable and convenient strategy to retain employees and build internal expertise—meaning you can avoid having to take the more expensive road of hiring externally.
Many employers invest in corporate perks in the hope of increasing retention. While these initiatives prove lucrative, they offer less value to both employees and the business than investing in learning and development.
For fun, we decided to compare the costs of some, now popular, corporate perks with our own training subscriptions.
To find out more about our pricing options take a look here.
Most eLearning platforms require a subscription and as they can be operated remotely, there is a lot of transparency on costs involved in traditional training.
When assessing the cost of your traditional training, it’s important to also include the costs of:
Other potential training costs associated with in-class learning include insurance and the cost of employees being out of office, to name a few.
With in-class corporate training, you can expect approximately up to 4 times the cost of e-learning training.
By choosing eLearning training for your company, you and your team get higher value from various benefits, including:
A 2018 online training industry report found that while training expenditures have decreased from $1,075 to $986 per user, investment in learning management systems had increased by 6% from the previous year. 82% of the organizations surveyed were doing at least some type of online training, and 28% were entirely dedicated to online training.
While companies are investing less funds into training staff, they provided the same number of training hours. Finding cost-effective ways to invest in employees learning and development will allow you to meet targets without busting your budget.
We at Coassemble believe online training platforms offer affordable and flexible training platform that brings value to both your employees and your business. Check out our user cases or explore our Learning Management System with a free trial.
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Contact our team for a chat to discuss how we could help with learning in your organization.