Travel, location, staffing, logistics… all those hidden costs of traditional, on-site training classes and events add up quickly. In fact, IBM found that up to 40% of its classroom training costs were spent just on travel and lodging. When the company moved half of its training programs to an eLearning format, it saved $579 million over just the first two years.
According to IOMA, the average corporation can save between 50% and 70% by shifting classroom-based training to eLearning. And the individual case studies are even more compelling. Ernst and Young saved 35% by investing in eLearning. Dow Chemical reduced its per learner costs to just $11 with online training, down from $95 per learner with traditional classrooms. And Microsoft’s move to video-based training helped the organization reduce costs by $303 per learner, from $320 to just $17.
Video has been winning rapid adoption in organizations large and small as an efficient means both to scale existing training activities and to enable Learning and Development teams to do more even in an era of stagnant budgets. So how much could your organization be saving?
Potential Savings
The results are astounding. By replacing these in-classroom training activities with video-based eLearning, you could save a total of annually.
(Calculations shown in US Dollars)