Even if you are not particularly into math or science, you might know that formulas are used to simplify the description of complex phenomenas such as movement or chemical reactions.
We all agree that elearning is not simple at all as it requires great effort in order to produce satisfactory results. We know that elearning is not just about uploading courses online, it’s a completely different approach to learning when compared with traditional face to face learning.
Therefore we thought that a formula might be appropriate in order to describe it in a simple way: the complex world of elearning, the price it takes to make it work and the benefits that a company usually gains when creating a healthy online learning environment.
RT: Research Time corresponds to the time spent looking for the right solution, both in terms of strategy and technologyOP: Onboarding process is the time you spend on transitioning from your previous training system to elearning.
These first 3 terms represent the “time” expenses that you will have to consider while switching from a different kind of training, such as face to face, or when you implement your first training strategy.
PE: Platform expenses are basically the economical expenses linked to the employment of a Learning Management System. If you are using a SaaS software this means paying for a certain number of users, otherwise you also have to include server expenses.
CE: Content expenses cover the necessity of having quality content on your platform; you can have an in-house instructional designer or you can buy courses from a third party content supplier, but in the end you will always need to spend a lot of money on this particular aspect, in order to achieve successful training.TC: Transition cost are always a hidden variable as not everyone considers the cost of switching from a platform to another, such as time and resources spent in moving users and courses to the new system. If you are using elearning for the first time, this term might be regarded as FIP (First Implementation Cost).
This second group of variables takes into account the economic expenses that you will have in order to get started with your new elearning platform.
Last but not least, you should consider your HR cost, which means the Human Resources you will have to use; this doesn’t simply mean the people from the IT department that you will need for the technical part or the Instructional designer that you will need for content, but also people from the Human Resources team that will help your employees to adapt to this new tool in order to smooth the transition.
Now that we have described all the “downsides” of using an elearning platform, it’s finally time to talk about the benefits that your company will get. We strongly hope that these variables (i.e. the lower part of the fraction, or the lower “term”) will be way more influential than the numerator (the upper term of the fraction).
First of all, I need to explain what an integral is, for those who are not familiar with this concept. An integral is basically the sum of a great number of items. In this scenario we are going to sum the benefits of elearning over time, as it’s important to consider how this technology is going to impact the future of your company.
CT: by using a software instead of a group of trainers, you are definitely going to reduce the total cost of training.
IT: using elearning platforms usually helps to reduce the total Instructional Time as it’s proven to be more efficient and to require less time.
LI: imagine flying your trainers all over the world to the different branches of your company, reserving hotels, restaurants, car rentals. Now imagine cancelling all of these expenses, including the research time that some of your employees will have to pay in order to keep your training active, and you will have an approximate idea of the logistic benefits of using an elearning platform.
GB: at the same time LMSs completely remove geographical barriers. Say goodbye to exhausting airplane trips to the other side of the planet and welcome technologies such as video-conferencing and asynchronous learning.
R: while traditional trainers and teachers might have a more personal approach to evaluation, imagine how powerful software can be in order to create extensive reports on your learner’s activities. All you need to know about your users and their courses performance is just one click away!