Improve the ROI of your Learning Content

How much does it cost to build a training course?

What is the one area you wish your team was better at? How can they improve and get to that perfect spot? Training, right?

Traditionally you would consider creating a training course. While it is a solution, is it the right one? Don’t you need the training now and not in three months? What’s the time commitment for you and your team in the creation of a course? What’s the cost?

How long does it take to create learning?

Types of Training
Level 1 – Basic information training
Level 2 – More specific content and interaction options
Level 3 – Highly interactive, advanced training

There are some general guidelines that can be used to determine how long the development of a course can be and how much it will cost.

Development of Level 1 eLearning: Combining Average Time and Average Cost to Estimate Development Costs

Tasks % of time spent on each task Time spent on each task (per finished hour)  1-hour Level 1 eLearning  5-hours Level 1 eLearning  10-hours Level 1 eLearning
Front End Analysis 10% 7.87 $ 1,002 $ 5,009 $ 10,018
Instructional Design 14% 10.88 $ 1,384 $ 6,922 $ 13,845
Storyboarding 11% 9.03 $ 1,149 $ 5,745 $ 11,490
Graphic Production 11% 8.66 $ 1,102 $ 5,512 $ 11,023
Video Production 4% 3.49 $ 445 $ 2,224 $ 4,447
Audio Production 7% 5.47 $ 696 $ 3,478 $ 6,956
Authoring/ Programming 17% 13.42 $ 1,708 $ 8,541 $ 17,082
QA Testing 6% 5.12 $ 651 $ 3,257 $ 6,515
Project Management 6% 5.08 $ 646 $ 3,232 $ 6,463
SME/ Stakeholder Reviews 7% 5.59 $ 711 $ 3,557 $ 7,115
Pilot Test 4% 3.43 $ 437 $ 2,185 $ 4,370
Other 1% 0.96 $ 122 $ 608 $ 1,216
Totals 100% 79 $ 10,054 $ 50,270 $ 100,540
Source

Level 2 and Level 3 courses can bring with them a significant increase in time investments and costs. In fact it wouldn’t be unusual for an initial estimate for a one hour Level 3 course to be $50,000. Not to mention the time you and your team would spend on planning and organizing resources. Yet even with the cost, time, and resources required, courses continue to be created with the belief that they will provide some level of value to the team.

What is the ROI of your learning content?

One common problem that we hear over and over from people across business sectors is that they are not seeing a significant Return on Investment (ROI) in the creation of training courses. When this is investigated a little further it becomes apparent that there are two factors at play:

  • The content and type of training courses provided
  • and
  • An overall lack of engagement with the learning management systems (LMS)

 

  • From CLO Magazine:
    – 46% of professionals don’t even log into their corporate learning system more than once per year.
    – 20% of employees use the LMS for any non-compliance learning

With numbers this low it’s easy to understand why companies pull back on training efforts.
Maybe the question though should not be how much time it takes to build learning or how much a course will cost, maybe the question should be what are the cost, productivity, and team member retention ramifications of NOT training your team?

The solution to all of this may be simple – take the school to the student.

Giving new life to existing learning content.

In previous posts we looked at Just in Time, Just Enough and Just for Me learning and ways that StepItUp builds on those tenants to create a personalized learning experience with the information and tools that you have currently available. This includes existing courses, videos, data sheets, product guides, process breakdowns – in effect all of the materials that your team should lean on to navigate the needs of their day.

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Of this tools, in many cases, video can be the most powerful. In rolling the StepItUp platform out, we were challenged with video implementation. In particular making video content searchable and then taking users to relevant sections to fulfill the ideas of Just Enough learning. Every challenge though, has a solution.

 

 

Our solution became a simple one, born out of our belief that by adapting learning styles in corporate training that match the way people function in the “real world,” StepItUp can help team members become stronger, more confident, and more productive.
How can StepItUp help your team members?  Reach us at hello@getstepitup.com

 

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