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e-Learning |
fact #3 |
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38% of eLearners
felt isolated
from others.
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Our design and development services, based on our Innovative Instructional Methodology, lead to measurable results and changes in knowledge and behavior. |
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KNOWLEDGE CENTER |
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Calculating ROI on e-learning
The structure of corporate training lies entirely on e-learning. Corporate training evaluation experts have developed two effective models to calculate ROI from dual perspective, i.e. from human as well as business outlook.
These two models best judge training benefits on different levels, with each level linked to each other, and furthermore, each level depending upon the previous and subsequent level. In absence of such beneficial linking procedure, it’d been extremely skewed to evaluate outcomes of training and augmentation in individuals performance graph.
Philip’s five-model strategy about Calculating ROI on e-learning
Listed below is Philip’s 5-level model to calculate any corporate return on investment:
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Level 1- This level is the initiation process of calculating ROI and aims at enquiring participant’s reaction on training program and what he/she plans to go about with the study material. This is measured by trainers with “smile sheets” which comprise relevant questions & answers. |
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Level 2- This level enquires from the participant about the amount of learning and skills acquired as the result of e-learning. |
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Level 3- This enquires the participant about the practical application of the skills acquired as the result of training to their present job environment. The level alls for a substantial involvement of managers and other senior members to evaluate the success gained thereof. |
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Level 4-The level enquires the participant about any possible increase in efficiency and productivity, occupational accidents, fall in absenteeism and much more at the work place. This in turn will yield a perceptible picture about ROI. |
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Level 5- The conclusion calls for assessing whether the money spent for e-learning exceeded results produced and vice versa. |
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Formulae for calculating ROI |
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Three basic formulas include: |
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Total administrative costs of the Training Program (TACTP) – Total administrative costs of the New Program (TACNP) = Projected Net Savings (PNS) |
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TB (Total Benefits (in $) x 100 = ROI % The most accurate method of calculating ROI on e-learning. TTC (Total Training Program Cost) |
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TCT (Total Cost of Training) = CPS (Cost per Student) Number of students |
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Libra Interactive Learning Pvt. Ltd. offers innovative e-learning methodologies and strategies that help you calculate precise ROI in no time. An ideal e-learning solution provider isn’t it!. |
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