Managers often believe that training and development is a cost centre, and that technology requires a huge investment that may or may not realise an acceptable return. Happily, the opposite is true.
Cisco reportedly reduced their corporate training costs by 40% to 60% when they implemented online training, and Dow Chemical massively cut training cost from $95 per learner to just $11 per learner. An example closer to home is leading automotive services provider AHG, who reduced their training administration cost by 85% when they switched to elearning.
Where do cost savings come from? From the new capacity to simplify and automate numerous tasks that no longer have to be done manually in time-consuming ways.
For example, it requires no additional manual effort to:
- capturing every learner’s results accurately;
- collate training results of people from multiple locations;
- send automated reminders via email to those whose lessons are overdue; and
- release certificates to those who successfully complete their training, which, by the way, can be done on their smartphones.
Speaking about smartphones, much has been said about how technology could be alienating and isolating, but that could not be further from the truth.
Read Myth #3 tomorrow ...