Cost Justifying Industrial Electrical Training

A Sr. Training Specialist at the worlds top bearing manufacturer recently asked me to cost justify our Industrial Electrical Training Video Course. Here was my reply...

The most compelling argument for employees to receive our industrial electrical training video (DVD) course is …

“Although the most common machine breakdown is mechanical, the most downtime is involved in finding the problem, not fixing it. Both Electrical and mechanical problems in today’s technology requires diverse electrical knowledge to find the problem quicker. Therefore extended electrical training has the greatest ROI towards reducing downtime.”

For this particular electrical training product, the savings to a company is extended even further by …

• The most complete knowledge base being delivered (an entire industrial electrical course)
• No costly site licenses.
• No travel expenses.
• Great for refresher training program.
• Unlimited amount of employees can be trained (IE: New employee training)
• Stop/Start anytime.
• Each DVD can be checked out to employees so they optionally train at home on their own time.
• Covers safety issues related to electrical training too.
• Customers learn how to better protect electrical equipment extending machine life cycle.
• Learn how to reduce energy bills.
• Learn about Programmable Logic Controller (PLC) which controls most every machine and is a tool to troubleshoot even quicker.
• Apply knowledge learned to increase equipment reliability and the company’s

Cost justification can further be displayed by comparison of …

• Sending one person to equivalent trade school course would cost around $5000, sending 5 employees - $25,000 sending 50 employees over many years $250,000 … Yet this DVD Course only cost $3000

• Downtime can often cost $10,000 per hour to a manufacturer, so after this training saves 20 minutes of downtime, it has paid for its self. Most investments take 3-5 years to pay for themselves.

• One accident that this training could have prevented, could cost a company $1,000,000

So basically this Industrial Electrical Training Video Course saves a company 1.25 Million dollars or more and only cost 3K. Sure, your numbers may be smaller, but still easily cost justified training.

Don (Follow me on Industrial Skills Training Blog and on Twitter @IndTraining .)


bin95 said…
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Unknown said…
To be perfect in the field of electrical engineering, it is being required that the electrical trainees need to get training so that they could be able to understand the appliances and electrical equipment well . [url=]Electrical Training Courses[/url] are available which could help them to gain some information in this field.
Unknown said…
Well a lot of people are getting into online training because it is much better and cost efficient in a way. You can save up gas or public transpo even meals because you wouldn't be going out the house. You can learn online.

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electricianmass said…
Great Blog!! That was amazing. Your thought processing is wonderful. The way you tell the thing is awesome. You are really a master.

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Anonymous said…
Sometimes taking the time out of work to learn is really difficult. Now, though, there is an opportunity for you to get Electrical Training London while you are at home, with DVDs. More specifically, there are tutorial videos that you can use and that can give you a chance to copy and teach yourself new skills, and all in your own time.

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