Is your L&D Organization Addressing the Total Cost of Learning?
Training Industry Inc. estimates that companies spend approximately 39% of their training budgets on external suppliers while approximately 61% of their budget is spent on internal resources on an average.
However, while the 39% spent on external suppliers may account for the direct costs that training suppliers bill their customers, organizations end up spending much more in hidden or unaccounted costs. At NIIT, we call this the Total Cost of Learning (TCL). If companies need to maximize their learning investments, they need to look at the bigger picture across various areas that may not be accounted for in TCL. Consider the following.
NIIT’s Strategic Sourcing service addresses the Total Cost of Learning (TCL) and is focused on delivering value by addressing both direct and indirect costs.