Maximise your investment by measuring e-learning ROI

If you invest as a company or organisation, you naturally want to make sure that you will recoup this investment (more than once). Sometimes this is easy to measure (for example: you put a certain budget into ads and then know exactly how much is being bought through these ads and therefore what the Return On Investment (ROI), we wrote about it earlier, is on the ads), but sometimes not. Sometimes the results can only be measured subjectively.

In general, you can calculate the ROI using the following formula: (revenue/costs) x 100%.

At Pluvo, we are regularly asked: how do I measure the ROI of my e-learning? How do I know that the e-learning I've invested in as a company or organisation actually contributes to our profits (in several areas within the company or organisation)?

The following also applies to e-learning: there are several factors involved in measuring the ROI of e-learning. We previously wrote a blog about ROI, and in this blog, we delve deeper into measuring the ROI of e-learning.

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Factors that influence e-learning ROI

When measuring the ROI of e-learning, there are several factors to consider, such as:

1. The initial investment in the e-learning content and the learning platform itself. What were the total costs of designing and implementing the e-learning?
2. In addition to the costs, of course, is also the monetary value of the time spent by employees at completing the e-learning (after all, time is money, in a company or organisation).
3. The quality of the e-learning content. Poorly designed or irrelevant e-learnings are unlikely to lead to significant improvements in employee skills or performance, which can negatively affect ROI. That's why it's essential to invest in high-quality, engaging and relevant e-learning content that meets the needs of employees and the organisation as a whole.
4. The employee involvement in the e-learning. If employees are not motivated or interested in following the e-learning, its effectiveness will decrease. That is why it is important to promote a culture of learning within the organisation and to encourage employees to actively participate in the e-learning initiatives.
5. The extent to which the skills learned are applied in practice. It is therefore very important to set clear learning goals, skills, or competencies in advance that can actually be measured.

How do you measure the ROI of e-learning?

In order to effectively measure the ROI of e-learning, you must first clear goals and KPIs e-learning initiatives are determined, such as improving specific skills, increasing productivity, or implementing certain processes that improve the efficiency of the company or organisation.

Then, there must be measurable indicators are determined to monitor progress towards these objectives, such as the number of successfully completed e-learning modules, assessment scores, level of skill development and employee performance after completing the e-learning (e.g. compared to previous performance reports).

It is also important to costs and benefits to closely monitor e-learning, including the costs of developing and implementing the e-learning content and the learning platform, as well as the savings achieved through improved productivity, improved performance and higher employee retention.

By regularly reviewing this information analysing and evaluating, companies get a better insight into the impact of their e-learning initiatives and you can make any adjustments to maximise ROI.

Measuring the ROI of e-learning can therefore be a complex process, but with the right approach and tools, companies can indeed assess and optimise the effectiveness of their e-learning initiatives. By taking into account factors such as the quality of e-learning content, employee engagement, and setting measurable goals and KPIs, companies can ensure that their investment in e-learning makes a significant contribution to the overall performance and success of the company or organisation.

Pluvo's customers are also very enthusiastic about the ROI of their e-learning! Do you want to know more about developing a valuable e-learning for your company or organisation that guarantees a positive ROI in multiple areas? Contact us in the chat today!