A recent IBM study found that the benefits of a skilled workforce are significant—and they affect all areas of the organization, from sales and marketing to support and customer service.
According to the study, training contributes to a 16% increase in customer satisfaction among companies using online training software; 22% faster rollouts of products and processes; and a 10% increase in productivity when teams are well trained.
This ROI on training is achieved because employees can apply their newly learned skills immediately to benefit the company. And using VILT not only increases the training department’s ROI, but the entire organization’s ROI.
How Training Affects ROI
The most direct ROI from VILT software is a reduction in travel costs. With instructors providing training to employees around the globe, companies dramatically reduce expenses for airfare, food, lodging, equipment rental and site rental. To compare the training delivery costs of in person training vs. online training, check out ReadyTech’s calculator.
Beyond saving your company travel costs, VILT adds to your overall ROI in other ways. For example:
- Companies reduce productivity losses from taking people away from work
- Students retain information better by learning from a live, virtual instructor than from e-learning courses
- Company loyalty, morale and job satisfaction increase due to improved skills
- Employee turnover is reduced, which saves significant HR costs
- More students are reached in just one VILT session
VILT is a clear choice for organizations that want to develop a skilled workforce, while also reducing overall training costs. The gains will be evident for both organizations and individual students.