Digital training has been widely adopted by corporates for the high performance of its delivery, reporting and microlearning characteristics. One of the most noteworthy advantages of delivering more training digitally is the opportunity of reducing costs.
Onsite Training Costs
Traditional training methods normally entail substantial annual expenses, whereas online training presents an opportunity for businesses to eliminate many of these costs. Travel expenses, physical learning materials, and facility rentals are some of the most significant costs which can be slashed. Online training incurs minimal hardware expenses. Learners can train through the LMS on their devices, and repeated the training as often as required at no additional cost.
Online training allows for learning experiences that meet the specific requirements of each learner’s role. With company-wide application, online training ensures uniform benefits for all learners, encompassing diverse learning preferences. This adaptability applies to all stages of the training process, right to the final assessment.
Such flexibility gives learners added confidence to proficiently tackle their job responsibilities. This can lead to less need for constant guidance from supervisors. Empowered by comprehensive training, learners can then effectively apply acquired knowledge to their daily tasks.
Unrestricted Access to Training Resources
Traditional training requires learners wait for scheduled in-person sessions. E-learning gives them unrestricted access to their training materials and the potential for knowledge they provide. Learners with open access to online training can enhance their skill set and task proficiency at a pace that suits the individual.
Shorter Training Time
It has been shown digital training shortens the time required to complete programmes, compared to conventional live training. One of the major cost-drivers within L&D is the substantial time employees spend in traditional onsite training sessions. E-learning facilitates skills development with minimal disruption to learners’ work commitments.
Higher Satisfaction and Productivity
Online training helps reduce employee turnover, a major cost saver. Employees equipped with the right training for their roles experience a higher level of job satisfaction. So, when training is easily and frequently delivered – as it can be digitally – a more satisfied workforce is likely. This sense of fulfilment translates into higher employee retention rates, subsequently diminishing the need for frequent upskilling of new recruits. Consequently, efforts are channelled towards refining the capabilities of already adept employees.
Increased use of online training can translate into reduced training-related costs, higher employee retention, and an elevation in overall productivity. These collective benefits help foster a better profit margin.