In today’s $381 billion Learning and Development (L&D) industry, organisations know that investing in people yields significant returns. Yet, with economic pressures and growing competition, they must tighten budgets and streamline their learning approaches.
Stakeholders are calling for clear data to support these investments, leaving L&D teams under pressure to deliver results with fewer resources. While it's tempting to seek out new strategies, consider how you can maximise what you already have.
Discover how online learning can help you optimise your budget, manage increased workloads and meet stakeholder expectations.
Reading time: 5 minutes
‘For the best return on your money, pour your purse into your head’ – you would think the advice comes from a popular TED talk, but it’s actually over two hundred years old.
The author of this piece of wisdom was none other than Benjamin Franklin, a Founding Father of the United States and renowned writer, scientist, and diplomat.
And it seems his advice about investing in skills and learning is just as relevant today.
In today’s world, Learning and Development (L&D) is a $381 billion industry. Organisations recognise the significant return on investment (ROI) that comes from developing their people. But with economic uncertainty and increasing competition, they are having to tighten budgets, reduce resources and find more efficient ways to deliver impactful learning experiences.
Stakeholders are demanding solid data to justify their investments. And you and your L&D team may be finding yourselves under pressure to achieve more with less, maintain the pace of projects and coping with increased workloads.
With stakeholders demanding solid data and L&D teams facing pressure to achieve more with less, it’s tempting to look for new solutions and strategies to address these challenges. However, have you considered how leveraging something you already use could be the key to overcoming these hurdles?
We’re talking about online learning.
Curious to know how? Keep reading to discover how online learning solutions can help you influence stakeholders, optimise your budget, and manage increased responsibilities despite limited resources and financial pressures.
Tip #1 Maximise budget and ROI with strategic pricing model choices
You can optimise your hard-squeezed training budget by exploring different online learning pricing models. Consider monthly or annual subscriptions, tiered pricing, pay-per-course/module options, or negotiate discounts when bulk buying.
By being strategic about the model you choose, you can ensure that your learning needs will be met while staying within budget.
What are the benefits of the different models?
Monthly or annual subscriptions can help with budget planning. Advance yearly subscriptions often come with a discount. This is an ideal solution if decision-makers in your organisation want to see a fixed L&D budget.
Tiered pricing allows you to control costs by accessing different levels of additional features as and when needed. This can also increase engagement by motivating your employees to ‘earn’ their access to the next level.
The tiered pricing model allows you to choose an affordable tier that meets your training requirements and doesn’t overstretch your budget.
You can also select a pay-per-course or pay-per-module solution. By choosing a platform with this payment structure, you will only spend on training needed to develop targeted skills.
Another strategy is that of bulk buyers who negotiate sizeable discounts. This can be the ideal choice if your organisation has a large volume of learners and plans for large-scale ongoing training. This is how large healthcare providers achieve significant discounts when negotiating with pharmaceutical companies.
Finally, if you have a more limited budget, you could explore the free versions of programmes that require a payment plan as the learner advances.
‘Freemium’ models like these allow you to evaluate the course and decide if its quality and relevance meet your needs before committing to pay, reducing financial risk.
Tip #2: Boost efficiency, keep projects on track and reduce stress with online platforms’ features
By leveraging online learning platforms’ capabilities, you and your team can cut down on repetitive ‘manual’ tasks, save time and ease operational burdens.
How?
Take advantage of online learning’s scalability to upskill large numbers of employees at the same time. This means you spend less time coordinating sessions, scheduling and managing learning. Incorporate self-directed learning for flexible programmes that minimise the need for supervision.
Use automated administration and management features. Look for routine tasks the Learning Management System (LMS) or platform can handle—such as learner onboarding, progress tracking, data dashboards, and reporting. You’ll be able to monitor progress and outcomes consistently across all participants and keep your learning initiatives on track.
Use centralised repositories for resources and documentation to streamline content management and updates. You can ensure better consistency across programmes and reduce time spent searching for and distributing materials.
Bonus tip: Online learning platforms can also support personalised learning that adapts to individual needs and preferences, taking the stress out of engaging learners on a large scale. By providing tailored content and adaptive learning paths, these platforms help maintain learner interest and motivation, making it easier for you to manage and support a broad audience effectively.
Tip #3: Use online learning data and reports to convince budget holders
Demonstrating the value of L&D programmes is crucial to secure the budget you need.
How to bring management on-side? Use the data you collect from your LMS or online learning platforms.
If you need help, you can find tried and tested ROI-calculating formulas online. These tools can provide clear evidence of how learning impacts skills, performance and productivity – and ultimately, your organisation’s goals - by reporting tangible results.
Tracking and comparing employees’ and business KPIs before and after online learning can showcase programmes’ effectiveness. Or you can use a comparative analysis practised in scientific research: measure a group that has completed training against one that has not. You should also measure how well the impact of online learning programmes matches up with industry benchmarks.
Useful statistics making the case for online learningIn the U.S., 77% of companies already offer online learning and a staggering 94% of workers state that they would remain with their employer if they were provided with learning and training opportunities. So, there is a strong correlation between L&D investment and employee loyalty. Half of the employees say they do not have time for training at their workplaces. 61% of learning and development professionals acknowledge the lack of time as an obstacle, creating an opportunity to improve employee engagement through remote online learning. |
Budget holders will also be impressed by seeing L&D cost savings - by presenting detailed reports on these cost efficiencies alongside the data on learning impact, you can build a compelling case for continued or increased investment in your L&D programmes.
Final thoughts
At a time when L&D is increasingly critical to your organisational success, using online learning solutions can provide a lifeline in a sea of budget constraints and organisational demands.
Additionally, leveraging these tools can help your team influence stakeholders to invest in training programmes and increase learning engagement.
Embracing these strategies will not only help you manage increased responsibilities and resource constraints but also ensure that your organisation remains adaptable and impactful in a changing world.
British Council has 90 years’ experience of partnering with organisations and individuals in over 200 countries to upskill their workforce for success. Our four-step process supports you to implement initiatives that make a difference, whatever the career path your employees choose.
Our online courses offer personalised, scalable options to grow your employees’ skills.
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