At PAULEY, we understand the need to demonstrate the economic argument of doing something different. That’s why we’ve devised a method for understanding the cost differential between traditional, face-to-face (death by PowerPoint) training, and a more blended learning approach using Immersive Technology (Mixed Reality).
Our COST SAVINGS CALCULATOR aims to estimate the total cost of your current training that could be replaced with Blended Learning (VR / AR / Cad Enabled E-Learning) and provide an example price to develop a blended learning solution. This provides an illustration of cost savings, to help highlight the business case when compared with traditional learning and show the return on investment over time.
We look at a number of different features of your company’s training profile that includes the following key elements:
- Estimated, total training time – By entering the typical roles or training courses that require to be trained with the number of people in each role / course and hours of training per role / course per annum, we can then calculate the total number of training hours that you currently deliver.
- Replaceable training time – Here we document the percentage of the total training time that you require to be replaced with blended learning, which will typically be an assumption at the early stages.
- Estimated training cost – This is the average cost per day that you currently incur when delivering your existing training programme, these costs include (but are not limited to) staff; trainers; overheads; hire and maintenance of a venue, travel costs, lost productivity etc.
- Estimated fixed costs – This is the total fixed cost to deliver your annual training, relating mainly to capitalised assets or indirect cost.
- Blended learning development cost – Here we can select an option from a dropdown menu to select a Level (either Gold, Silver or Bronze). A detailed breakdown of what is provided for each level can be viewed by clicking the relevant link within the calculator. This will provide an average cost for each level.
- Estimated saving – Our results table shows you the estimated training and fixed costs saved over 1 to 5 years based on the costs you have entered, and the percentage of training replaced by blended learning.
- Estimated savings over time – Our results graph shows you the illustrated total costs saved over 1 to 5 years based on the estimated costs you have entered and the estimated percentage of training replaced by blended learning.
The devil really is in the detail with our cost saving methodology, and as part of it, we assess Direct Trainer time, the extent of refresher training, reduced delegate travel cost, course material production cost and the trainer / delegate ratio for specialist training.
We also consider how we can avoid future costs, looking at areas such as maintaining capacity without fixed costs, investment in the training asset, lower administration and outcome / data recording, reduced attendance costs, effective quality control and change management.
Finally the benefits extend beyond lower or avoided costs, typically key areas for us include increased user engagement, a more memorable experience, heightened safety awareness (i.e. we can recreate high risk environments), reduced levels of operational impact, sharing of IPR and best practice through licensing and finally, it’s fun, delegates take more knowledge away with them, providing a quicker route to competency; making employees more economically productive and driving increased productivity / efficiencies in maintenance and operations processes.
For an accurate assessment of your requirements please contact us at [email protected] for a full quotation.
At PAULEY we understand that you need to train people effectively, efficiently and quickly. Which is what we do!