This post was originally published by Allyson Dobberteen on lessonly.com.
If you’re here, you’re probably wondering if web-based training platforms are really worth shelling out for. It’s an age-old question we all ask ourselves when evaluating any big business decision—and web-based training software isn’t immune to it.
Even 20 years ago, companies tested the cost efficiency of web-based training methods. Consider this article that circulated the World Wide Web back in the year 2000—IBM reportedly saved about $200 million dollars by switching to digital training, BCD travel lowered their training costs by 60%, and the success stories go on.
But the question still remains, is web-based training really more cost effective than other methods? Let’s take a good look at some of the ways that digital training cuts costs—you’ve earned it.
4 ways web-based learning is cost effective
1. Cut costs associated with training facilities or travel
Let’s start with the obvious—one of the clear benefits of online training for employees is reduced travel and training facility costs. Gone are the days of renting out conference rooms, paying for hotel stays, and covering the creeping costs of business travel. It adds up quickly!
And outside the scope of simple cost reduction, less travel for training also frees up your employees to make time for life—something we’re really big on around here. When training can fit into their daily routines and schedules, they can make it to little league games, eat dinners with friends, and find restorative rest after a hard day’s work.
2. Reduce waste of training materials
Talk about wasted space—and dollars. Think about all of those printed manuals and training materials gathering dust in that storage room of yours. It’s a costly thing to produce training materials, let alone keep them updated with changing products, processes, and procedures. It’s time to stop the wasteful training content cycle.
By using online training platforms for employees, it’s easy to keep content up-to-the-minute. No more discontinued products in old product knowledge packets, outdated pricing on price lists, or typos sneaking into manuals that won’t be reproduced for another year.
3. Streamline learning times
As they say, time is money. That’s particularly true when it comes to training times. Every moment that your employees spend in a training classroom, virtual or otherwise, is time they could be spending doing their actual jobs. Do them—and you—a favor by making your training programs more time efficient.
With online software like ours, you can onboard reps 62% faster so they hit performance goals in their first three months—which is kind of the whole point, right? Employees can access content at the push of a button, while on the phone with a customer, in the middle of a demo, or in just about any other moment of need.
4. Create web-based training content faster than other methods
We’ve already established that time is money, and that goes for the time it takes to create training materials too. If you can write an email, you can create a lesson with the right online training software—it’s really as simple as that.
That’s why we commissioned Forrester Consulting to conduct a Total Economic Impact™ study.* The research took a look at the financial impact that our web-based training and coaching software has on one of our customers in the fintech industry. Spoiler alert—Lessonly reduced the time it takes to create training by 67%. (There’s tons of other stats where that came from, too. Check out the full study for more benefits.)
We could blab on and on about the advantages and disadvantages of online training for employees for days, but it’s pretty clear. The right online employee training platform can be both cost effective and completely worth it.
*An August 2021 commissioned study conducted by Forrester Consulting on behalf of Lessonly.
Lessonly by Seismic is worth it, too.
Lessonly by Seismic is a web-based training, enablement, and coaching software for organizations like yours—see what it’s all about. Take a look at what our customers have to say. Still not convinced? Then, get a demo!
