Social Learning ROI
One reason why some companies are still not sure about elearning is because it’s difficult to assess the ROI.
Difficult, but not impossible.
Still, this can act as a deterrent (or at the very least, a reason for delaying the implementation of an elearning program). It should come as no surprise then that social learning programs fall even further down the priority list.
While there have been many studies indicating that elearning has a positive ROI impact, there isn’t as much information out there regarding the returns that can be expected for social learning programs.
The folks at Showd.Me have put together a great infographic detailing some facts and figures relating to social learning and ROI.
While the presentation is somewhat slanted so as to highlight their own offering, the data in the graphic itself does provide some talking points supporting the use of social learning programs over the traditional training methods.
The advantages of social learning make sense. People learn best from their peers, and having the social aspect adds more engagement than many of the elearning courses out there.
Of all the facts shared in this graphic, the one that sticks out to me is in relation to employee retention. Many people don’t think about employee retention as being a positive ROI indicator, but when you dig a little deeper it makes sense.
Hiring employees costs a lot of money. The searching, interviewing, on-boarding, and training eats up a lot of resources. If an organization’s turnover rate is high, then they are constantly dedicating time and money to talent acquisition. However, with social learning the turnover is decreased, which means a decrease of spending in this area.
Check out the infographic below for more social learning facts and figures.