Online Training Cost Savings Calculator | Trainertops
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Online Training Cost Savings Calculator
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Please visit the following site for an explanation of the terminology used here:
http://blog.trainertops.com/?p=1567
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Cost Components
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'Traditional'
Training
Synchronous
Training
Outsourced
Asynchronous
Training
Do-It-Yourself
Asynchronous
Training
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Trainer Cost: Hourly Wage$50$50$100$50
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Hours of Development & Preparation for One
Hour of Training
343422034
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Software Cost / Trainee (simplified)N/A$2.50$5$5
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# Trainees20202020
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Trainees’ Hourly Wage$25$25$25$25
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Lost Productivity / Trainee / Hour$50$50$50$50
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Travel Expenses / Trainee (Rental Car &
Airfare)
$300N/AN/AN/A
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Overnight Stay / Trainee (Meals & Hotel)$150N/AN/AN/A
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Training Materials / Trainee (handouts,
binders, etc)
$20N/AN/AN/A
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Training Duration (Hours)8888
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Percentage of Training Taken on Trainees'
Own Time
N/AN/A50%50%
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Comparison of Costs
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'Traditional'
Training
Synchronous
Training
Outsourced
Asynchronous
Training
Do-It-Yourself
Asynchronous
Training
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Trainer Cost$400N/AN/AN/A
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Training Development Cost$13,600$13,600$176,000$13,600
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Cost of Lost Productivity$8,000$8,000$8,000$8,000
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Employees in Training$4,000$4,000$4,000$4,000
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SoftwareN/A$50$100$100
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Logistics$9,400N/AN/AN/A
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Subtotal:$35,400$25,650$188,100$25,700
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Savings through % Training on Own Time$6,000$6,000
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Total:$35,400$25,650$182,100$19,700
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Savings Compared to 'Traditional'
Training
N/A$9,750-$146,700$15,700
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Copyright TrainerTops 2014 - www.trainertops.com. Author: Onno Schuit.
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