Many businesses fail to train their workers due to the cost associated with training and the tools required to carry it out. But online training software provides not just flexibility but also minimizes training expenses. In simple terms, you can save a lot by adopting online training rather than classroom training. Continue reading to learn about five expenses you can leverage an online training software to avoid.
1. Venue Expenses
Do you have sufficient space to host a live coaching session? Most small businesses typically have to book venues for conferences and training sessions. This can be extremely expensive, especially if you have these sessions regularly. Online training software offers an opportunity to eliminate tedious event management and preparations. Another bonus of using training software is that it saves employees from the stress of spending the whole day at a workshop or training venue. What’s more, they will access training materials right when they need them from their workstations, smartphones, and personal computers. In short, the online training software creates a win-win situation—it gives the much-needed convenience to the employees and reduces the training cost for the employer.
2. Travel Expenses
Just one worker traveling locally can cost a company about $1,000 a trip. That’s an outrageous amount, especially for small businesses or those that are just starting up. Having multiple offices across the globe can further increase this cost. This is because your employees will have to apply for a visa and accommodation in addition to the travel expenses. Fortunately, you can eliminate these costs from your training budget by investing in online training software.
With such software, geographical location becomes irrelevant because workers can access it from anyplace, at any time. Because training is online, no travel is required and thus no visa is needed. Your employees can acquire critical skills in the comfort of their home, car, or even office.
3. Fees for Physical Trainers
Physical instructors are usually paid hourly or per course. If you hire an instructor for on-site training, then you’ll need to cover their flight, meals, accommodation, and entertainment expense. If it’s ongoing training, then you’ll have to deal with a recurring expense. Such an expense can have a huge effect on your profit margins. E-learning courses do have some offline component from time to time. An online instructor may need to supervise some sessions in person or by holding a real-time webinar. In such instances, the expenditure is way too low compared to regular classroom training. The online facilitator will charge you for just their time and bandwidth.
An online training course allows you to access the training course through pre-recorded visual or audio content. You pay for the course one time, and then you can utilize the material repeatedly. It becomes cheaper in the long run because you pay a one-off fee instead of a periodic one. What’s more, e-learning cuts cost associated with recruiting professors for different languages to instruct courses. Today, with e-learning, you only need a trainer to lecture in English and have the subtitles translated into different languages. A reputable professional translation company can offer you excellent translation services.
4. Material Expenses
Transitioning to e-learning eliminates the cost of learning materials. You’ll no longer need to buy textbooks or printouts that are typically needed during classroom training sessions. With e-learning, employees can use virtual learning materials for reference purposes while on the job and have more time to do important things, such as networking.
5. Food and Accommodation Expenses
Large organizations have a wide array of ways to ensure employees fulfill the continuous training requirement. They might set up a further education fund or organize seminars and training sessions. Some corporations may even sponsor their employees to go overseas for work-study programs in affiliating companies. These kinds of options cost the companies a lot of money, including visas, meals, and accommodation expenses. Luckily, effective online training software cuts all these costs since the employee can get quality training within their home environment at a considerably lower cost.
Good online training software can help you keep your employees engaged, show that you treasure ongoing improvement, and most importantly, reduce business expenses. When you get the best virtual training software for your company, you will realize major improvements in not only team morale but also your bottom line.