How to Reduce the Cost of Developing Online Training
As per research, IBM found that even though eLearning was costly, it led to substantial improvements in productivity.
For every dollar spent, IBM claims that it saw a $30 return in the form of increased productivity. Online training is way more efficient and cost-effective than traditional training. But the higher cost of developing the online training can turn the table.
So leveraging the benefits of online training without burning a hole in your company’s training budget is essential, here are a few tips to do so.
Enroll in an eLearning authoring tool that is inexpensive and convenient to use.
A rapid e-learning authoring tool is an online training material development software that helps e-learning professionals create effective web-based training courses. There are 3 types of rapid authoring tools available: PowerPoint add-ins, installation-based authoring tools, and cloud-based authoring tools.
Cloud-based authoring tools, like the Adobe Captivate can reduce the cost of development by 50% and increase efficiency by 40%
Adobe Captivate– is a smart eLearning authoring tool that empowers you to easily create all kinds of fully responsive eLearning content, without programming.
Free trials and demonstrations are available for almost all eLearning authoring tools. You may try out the software without having to spend anything upfront. You may go through their online asset library, check out their User Interface, and contact them for help.
To guarantee you’re receiving the finest deal, spend a little more time researching LMS suppliers and their pricing choices. Ask for a less expensive version that is more tailored to your business needs.
Pay for an annual subscription instead of a monthly subscription when you get 100% confident of the tool usage after the trial version. You may be able to save money or have access to benefits that aren’t accessible with the monthly pricing option if you pay for e-learning software annually.
Assign one of your in-house tech geeks as the point person for troubleshooting technological issues to save the time of contacting LMS support.
Develop micro-sized Online Training Resources- micro learning
Micro-learning is learning in chunks, the modern method of micro-learning helps in reducing the period of training and effectively increases engagement. Daily 2-5 minutes of learning content is easier than long training sessions and employees can resume work after training.
Tip: You can also record office interactions about the latest updates and leverage them into online training materials.
Use multifaceted e-Learning Templates:
Most rapid eLearning authoring tools, like Adobe Captivate, come with pre-built templates that you can use to create your online training course content. Color schemes, text boxes, and picture positioning may all be changed fast.
Create an online training project schedule and assign assignments as soon as available
This provides your colleagues enough time to select the best online training materials and tools for their work. It also allows you to keep track of the whole work process and make modifications as needed.
When the entire office is required to take time off for training, a significant amount of hourly billing time is lost. This problem can be solved by training everyone at the same time.
Teleconferencing and webinars can be used, and they can be recorded for future reference.
To design more effective learning objectives and outcomes, use your LMS analytics and employee feedback.
Reports and statistics from your LMS can help you discover areas of your online training that need improvement. If most of your staff, for example, is unable to finish the sales online training certification program. As a result, you can both reach the root cause, and enhance the online training course, or you can eliminate it. In any case, you maximize your online training resources while lowering your online training expenditures.