Online employee training offers a unmatched level of convenience and standardization when compared to traditional classroom-based training. Instructors can upload centralized training videos, courses and instruction for employees at multiple locations or across numerous time zones. This option appeals to different learning styles and allows instructors to cover a large breadth of material easily.
These thoughts are important for any organization, yet they are only qualitative benefits. In order to win over upper management or board members to invest more in online employee training programs, employers should gather quantifiable metrics to provide prove the direct financial or operational benefits.
“ROI is the return on any investment an organization makes.”
What is ROI?
Companies are always seeking out new ways to increase revenue and save overhead costs. Businesses leverage Return On Investment (ROI) to determine how successful their programs and other ventures are. ROI is the financial or other tangible return on any investment an organization makes, according to eLearning Industry. While primarily used in marketing, companies can also use this technique to see how effective their online employee training programs are.
Why is it important?
Online employee training is a long-term investment, but this doesn’t mean you cannot start measuring results right away. Start tracking areas such as employee productivity and performance, along with resources and money. For example, gather data to see how much money your organization has saved with its online training program.
Maybe you spend less on hiring instructors, can get employees on the floor more quickly or spend less on costly, avoidable employee mistakes due to lack of training. Additionally, use employee feedback and surveys to see if they feel more prepared to do their job following online training courses. Measure if productivity or performance levels have improved since they took the online courses.