ELearning is at an early stage of development in Ireland compared to other markets such as the UK and USA. But the growing trends in Irish people shopping online, means that the demand for ELearning is likely to grow in the coming years. 57% of Irish internet users have shopped online in the last twelve months, while the percentage of people purchasing books, magazines, and eLearning materials online, increased by a third between 2008 and 2012 (europa, 2013).
So is eLearning really a more cost effective solution for your business? Consider these expenses. Hiring a trainer, hiring a premises, travelling costs, shutting down your operations so all your staff can be in the same room at the same time, organising training can be a real headache for both HR managers, and businesses alike. ELearning removes these costs. All your employees need is internet access and they can complete the course they need anytime, 24/7.
Companies save between 50% and 70% when they replace instructor-based training with e-learning (IOMA 2002). Training with e-learning, allows courses to be delivered into shorter sessions and spread out over different days, so that the business would not lose an employee for entire days at a time. It improves productivity, as employees no longer need to travel or get in rush-hour traffic to get to a class. The main business driver for eLearning is the cost of the invested to the earning. 85% of every euro spent on classroom training is spent delivering it, i.e. instructor time, travel, etc.
National Research Business Institute, says that 23 % of employees leave a company for lack of development opportunities and training. Costs associated with losing talent, including money, lost productivity, recruitment expenses and training investments, are well documented and e-learning can be used to change these facts.
This is the cost efficiency of e-learning; it can reach more people in a shorter amount of time than traditional learning. If this cost is spread out even further by purchasing off the- self eLearning training on a “per head” basis the total cost is significantly lower than traditional instruction.
The statistics prove the facts. ELearning can eliminate the expenses associated with traditional training, and provide a more cost effective solution.