There is a lot of talk about the convenience and accessibility of Online Safety Training, but it’s strongest benefit is often overlooked: Return on Investment.
Online Safety Training is quickly being adopted by hundreds of organizations to fill in any gaps within their safety programs. Many safety leaders are leveraging this innovation in training due to its productivity, efficiency, and – most importantly – cost-saving benefits. But do you know how much money you could be saving by adopting Online Safety Training? In this article we are going to run through a hypothetical scenario to showcase the ROI of Online Safety Training.
Let’s say there is a construction & engineering organization that employs 100 front-line workers who have mandatory safety training. This organization has field offices throughout North America and the corporate headquarters has two classrooms. At HQ are two full time safety trainers. Twice a year, 50 employees travel to the corporate headquarters for 3 days of safety workshops – causing 3 days of lost productivity. With conservative estimates, this is what this company’s expenses of its in-class training program would look like:
Travel Expenses for 50 employees twice a year ($1000/trip)…………$100,000
Instructor (2) costs ($50k salary)…………………………………..$100,000
Facility costs (food, drinks, room upkeep)……………………………………..$10,000
Loss of time on the job (50 employees, 6 days a year, $40/hr)………$96,000
Total Annual Expense………………………………………………………………….$306,000
That’s a significant amount of budget allocated to training 50 workers. Now let’s say this hypothetical organization integrate online training into its safety programs. An investment into online training could theoretically eliminate one of those in-class safety training trips a year. It would also allow better allocation of Trainer resources to other areas of the company. Suddenly the expense in safety training begins to look like this:
Expense of a dedicated eLearning program…………………………………$10,000
Travel Expenses for 50 employees once a year ($1000/trip)…………$50,000
Instructor (1) costs ($50k salary/instructor)…………………………………..$50,000
Facility costs (food, drinks, room upkeep)……………………………………..$5,000
Loss of time on the job (50 employees, 3 days a year, $40/hr)………$48,000
Total Annual Expense………………………………………………………………….$163,000
While this scenario is 100% hypothetical, it is still plausible. Safety Training ROI can potentially double simply by blending Online Safety Training into your safety programs.
At the very least, safety sensitive organizations should implement online training to support its safety training initiatives. A more comprehensive safety program that leverages a variety of solutions is better set up for success and any organization that has one will experience significantly less incidents. The ROI of Online Safety Training makes this solution a no-brainer for any forward thinking safety leader.
