Why online learning is more efficient and cost-effective than alternatives
Online learning, also known as e-learning, is not only more effective than traditional learning methods, but it can also be significantly more cost-efficient compared to traditional training tools such as printed manuals or in-person classes.
Thanks to cutting-edge technology, online learning courses can share key information instantaneously with employees through their digital devices. This allows companies to cut out transportation costs, teacher salaries, course materials, and more.
Companies can benefit enormously from avoiding these unnecessary expenses. E-learning tools share vital information with workers using tools that we all use every day: computers, tablets, smartphones, etc.
Online learning courses allow information to be delivered in short and easily-digestible pieces. They use formats such as video games, simulators, and videos that allow students to absorb information at their own pace and access content when and where they need it. With these tools, training can be done anywhere and at any time; the only thing students need is internet access.
How can companies benefit from online learning?
Research shows that blending useful information with gamification yields the best results:
- Better retention of information
- Faster learning times
- Increased productivity
In addition to these three main benefits of e-learning, perhaps the most important advantage is that online learning can offer savings of 70% or more compared to other traditional training methods.
According to the IT consulting firm Cognizant, these savings are due to, “a radical reduction in the time it takes to create new features and increased learner adoption due to the flexibility of a platform that adapts itself to the learner’s style or business role.”
At first glance, this idea may seem far fetched, but the data supporting e-learning is backed up by tangible results.
What makes online learning so successful?
There are many reasons why e-learning is successful but the results it yields are what we should really focus on. Swapping traditional learning processes for e-learning methods means:
- Lower printing costs. Learning materials are kept online in a central database, ready for easy download, so any changes can be made on the spot with a simple update.
- Improved productivity by cutting out the classroom. Instead of wasting time and resources keeping teachers and students in the classroom for days, or even weeks, students can apply new concepts during their normal workday. After all, the goal here is the application of new skill and knowledge.
- Shorter learning times due to increased retention. Several academic studies have found that learning via online methods produces double-digit increases in retention rates. This means that workers will spend less time absorbing and reviewing training materials and more time using them in their professional roles.
Gamelearn’s Case Studies
At Gamelearn, our numerous client success stories are testament to the success of our platform. We would like to share some of their first-hand results with you:
MSD, a leading global healthcare multinational, achieved 98% completion, 99% applicability, and 99% recommendation rate.
“You may think that a program like this would mean additional costs, as it is providing additional value and benefits. However, we actually saw a reduction in costs of around 58%”. Tanit Ruiz, Learning & Development director.
Vestas, the world’s top wind power company saw a 21.5% sales increase, a 95% completion rate, and a 100% applicability rate.
BCD Travel, by using the training course Pacific, managed to reduce training time from 12 months to 5 months. The company also reduced the number of in-person trainings from five to two, lowering the associated costs (travel, lodging, opportunity cost, etc.) by 60%.
CaixaBank, not only reduced training costs, but it also saw a 15% annual increase in revenue generated by the company’s 20 largest partners. This represented an annual increase in new business acquisition.
These examples demonstrate the real-life benefits that companies enjoy from implementing Gamelearn’s online training courses. The courses are easily adaptable to the customer’s needs: we can think of a course today and tomorrow adapt it to make it available as a training tool.
If you want to join us on the frontier of professional training, contact us! We are here to help you.