Training Cost Reduction: Using an LXP to Deliver Effective Training at Lower Costs
Want to find out how you can reduce training cost within your organisation? Read more and you'll learn how to deliver training, all whilst remaining effective and engaging for your learners.
One thing that trainers have always been painfully aware of is the cost of onboarding training, continued education, and introducing new learning objectives to their regimen. This can range from the cost of content production, instructional design and course creation, travel for in-person training and events, hiring external trainers for synchronous events, and more. If it feels like I’m preaching to the choir, keep reading.
When the pandemic emerged, it marked a seismic shift in training: it effectively eliminate in-person training for a considerable amount of time. As a result, the business community experienced a huge cost reduction relative to in-person events, while also seeing the unfortunate result of not being able to train new workers or upskill current employees as effectively or efficiently. Zoom quickly became a training and workshop hub, and while this was a band-aid, it simply doesn’t provide the same experiential opportunity that in-person training does.
According to Training Magazines, 2021 Training Industry Report, the average company in the US spent $40 less per person compared to 2020, with an average total cost of $1,071. While this difference may seem minimal, when you zero in on individual companies, there are some that are achieving significant cost reduction that align as outliers to the average cost savings per pupil experienced in 2021.
So, how are companies doing this? As you may expect, technology has played a major factor. Companies are either producing or outsourcing production of content to be used in a web-based format for training delivery. They then deliver this content through an LXP, LMS or something similar. But we have seen the trend continue to evolve further yet over even the last 6-12 months.
Employers are increasingly looking for platforms that offer interactions with a higher level of fidelity for the learner as they continue exploring either eliminating or reducing in-person training. But in order to do this effectively, employers need to be able to use either one or several platforms to achieve similar levels of interaction and knowledge retention so that the employees experiencing the training aren’t being left behind with experiences that simply don’t work.
At Virti, we have created a 3-pronged learning experience platform (LXP) to effectively confront all these concerns. First, with Interactive Video, Virti can give employers the ability to present learners with live-action representations of work environments - like stressful situations, dangerous machinery training, etc. - along with knowledge checks throughout the content that also allow for learner journey measurement. For synchronous team learning, Virti can also enable a competitive multiplayer function for interactive video, so that learners can engage and grow together. Second, Virti has created a Virtual Human with natural language processing to serve as a practicing tool for conversation, diagnostic, and analysis. We have seen these tools work very well in environments involving leadership training, sales training, nursing, safety, and more. The final prong is Feedback, our data capturing and analytics systems that give you an unprecedented look at how your workforce are performing - with assessment scores, feedback forms, and much deeper metrics like watch time and engagement with interactive elements.
Virti is the only all-in-one platform that can optimise the entire remote learner's journey.
One of the first things you can do to implement a successful blended learning strategy, is to use a platform that makes digital training and capturing feedback easy.
Our award-winning learning platform empowers organisations like yours to create digital learning experiences that feel like real life.
In an increasingly integrated world of what used to be called ‘Frankenstein systems,’ where companies deploy best-in-class software for each specific area of their tech stack, Virti is often an augment of a larger learning ecosystem; a role that optimizes both learner journeys and assessment by leaders. Due to Virti’s wholistic approach to the learner’s journey, the platform gives team leads every piece of the puzzle they need to map their workforce training outcomes.
Hopefully this blog has been insightful, helpful, or both. Finding the right LXP for the job will help upskill your workforce faster, allowing your people to work smarter on business goals without training blocking their path to success. Whether you decide to use Virti or a different solution to enable your company to further enhance remote training, you will likely experience an overall cost reduction and an increase in knowledge retention over time!
Further resources
Laurence Chater