Industrial Training - The Best for Less

Online University Courses - Training Cost Benefit Analysis

Below is a Training Cost Benefit Analysis by Gartner.


training cost study

Cost Benefit Analysis

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Productivity Costs Savings / Return on Investment

According to the Gartner, a user with an annual salary of $30,000 working 40 hours a week, spends approximately 3 hours per week attempting routine tasks due to lack of training. 

 

The three hours wasted represent a 7.5% lost productivity rate or $2,250 per user.

                                                                                           

The following matrix illustrates the productivity savings gained by your organization’s use of the BIN95 University's sole source solution. If BIN95 University’s solution increases each user’s productivity by 1 hour, this is approximately $844 in annual productivity savings per user per year. 

In an organization with 250 employees or more, the annual productivity cost savings is substantial.

Users

Annual Lost Productivity Cost ($2,250) *

Annual Productivity Savings ($844)

1

$2,250

$844

50

$112,500

$42,200

100

$225,000

$84,400

200

$450,000

$168,800

350

$787,500

$295,400

500

$1,125,000

$422,000

1,000

$2,250,000

$840,000

2,000

$4,500,000

$1,688,000

*Based on $30,000 annual salary

Support Costs Savings

Whether or not we have access to training, users forget most of the training or learning content provided. On average, measurable knowledge retention is less than 10% six months after “passing” a student through a classroom type course. According to Gartner Group, each networked user of a Windows based PC accounts for $310.00 in help desk costs per year.

Help Desk Support = Additional Cost Savings

Using a binary state comparison, BIN95 University solutions will effectively convert up to 95% of your “Class 2 learners” (requiring physical help desk or third party intervention) into “Class 1 learners” (requiring work without requiring helpdesk or support). This will help to eliminate a majority of your support costs ($310.00 per user).