Perks of being a teacher is crucial to know for every teacher. The required efforts in teaching are greater than the perks of the job of teaching. Today I am going to tell you how you can maximize your teaching perks by getting into distance teaching or virtual teaching. And how can you maximize the perks of being a teacher. An understanding of short financial analysis of Return on investment will help you to put your precious energy and resources in right direction. And this will definitely help you to maximize teaching perks.
eLearning’s Return on Investment
Despite the conspicuous higher initial expenditure, eLearning can be very cost-effective as compared to face-to-face programs. You won’t have to rely on and pay for flights, real-world training sites, on-site facilitation, or printing training materials if you use an eLearning software. Your subject matter experts’ scalability is significantly improved across a much broader user base quite quickly.
Furthermore, eLearning allows the employees to spend less time studying and more time working. They learn more content quicker, have access to it if they need to review it later, and the information is more durable, requiring less retraining. It is simple to update details. You will have software for automated and reliable tracking and reporting.
The return on investment (or cost) is calculated using a simple ROI formula that divides the investment (or cost) by the value returned. To put it another way:
Gains – Costs = ROI
Consider the following factors when calculating the costs:
LMS and infrastructure costs, distribution and maintenance costs, and administrative costs all go into creating the eLearning course, which requires input from team members and subject matter experts.
Consider the following factors when calculating the gains:
Costs are recovered by less disruptive training delivery (the person-hours gained from not making learners and teachers leave their workplace for Instructor-Led Training), training more people on the same material simultaneously, reduced retraining, and lower travel and administrative costs.
You may also consider Kirkpatrick’s Model of Evaluation as it relates to eLearning that you have applied in addition to the above basic ROI formula:
Level 1: Reaction: Calculated by receiving input from students.
Level 2: Course tests are used to evaluate learning.
Improvements in performance, manager reviews, or enforcement testing outcomes are all indicators of behavioral changes at this stage.
Level 4: Market Effect: Productivity gains and quality metrics are used to determine the impact.
Now the question arises how this analysis will help you to maximize your perks of being a teacher? The answer is very simple, once you get aware of this model, you can promote and make your marketing strategy to grow your audience for eLearning. In this way you’re your teaching perks will surely exceed the efforts you actually put in you work.
It is important to understand that a well-informed decision will help you to set right strategy for your set objectives. Make your objectives specific and time bounded and start working in right direction to reach your ultimate goals and create passive source of income.