E-learning Myth #2 – Too expensive?
21 March 2019
When it comes to contemplating whether e-learning is right for your business, there is often a reluctance in considering it due to the perception it will be too expensive. However, e-learning is now more affordable than ever for all sizes of budgets.
When considering investing in e-learning, there are other savings to be gained.
When training your employees, how much time do you spend on:
- Production and preparation of training material?
- Booking of rooms, venue hire and refreshments?
- Scheduling trainers, travel and accommodation?
- Dealing with delegate queries and changes?
- What are the associated costs of running the courses?
Imagine only having to produce content once and delivering it as many times and to as many people as required, not limited by numbers or geographical location.
Also consider the time saved by your learners. They no longer need to complete training on a fixed date and time, thus making it more flexible for the needs of the business. In addition, we all have different learning styles and preferences and many of us need to see information more than once. With e-learning, training is there when you want it and where you want it.
When selecting an e-learning partner, ensure that you check what ongoing costs there are. Ask the following questions:
- When courses prove highly successful, what charges will there be? Will any commission be taken?
- Who will retain the intellectual property?
- What are the costs for minor changes or updates after the course material has launched?
- What are the ongoing support costs if hosting on a learning environment is required?
R&D Tax Credits
You may be eligible for R&D tax relief, not just on the costs of the e-learning, but also your time and research in implementing a new project. Ask your accountant for details.