Global spending on corporate training is going up - as much as 2-5% - and yet rates of unconscious incompetence in the workforce are as high as ever. It’s getting more and more expensive to force employees into unfulfilling training that ultimately falls short.
Adaptive Learning can solve that.
In 2015, the average company spent $702 per year per learner, and this number went up for smaller companies, and even more so for training senior leadership ($1000 per year or more). Over the course of several years, (especially if the training is ineffective and the employee needs to be retrained for making the same mistakes) it’s easy to see how a training budget can get out of hand. And that’s just with one employee.
Why not make better use of available funds and create a demonstrable impact (and avoid the risk that your training budget will be cut)? Employees have to be trained and learn new information at some point and Adaptive Learning can reduce those inevitable costs significantly, with less wasted time.
The number given above only refers to the cost in dollars spent on each employee. That’s not including the amount of time lost, either by the employee spent in training instead of working, or the hours of lost productivity due to poor training, resulting in the many side effects of conscious and unconscious incompetence, which all equal money lost.
With Adaptive Learning, which can be accessed on-the-go from any device, you cut down on training costs, both with time and money. Adaptive Learning can:
- reduce the average costs of educating an employee anywhere from 10% to 50%.
- reduce the annual training of senior leadership down to $500 a year, less than the corporate training average for regular employees.
- make up for lost productivity (which means money saved) with its streamlined and accessible approach to online learning.
All in all, Adaptive Learning means optimized training time for employees and employers, and that makes everyone happy.