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7 Ways Virtual Reality Will Net You Massive Savings on Training Costs

Contents

1. How can Virtual Reality become a cost-effective training solution?
1.1. Fewer Accidents and Reduced Risk
1.2. Savings on Travel and Logistics
1.3. Scalable Across Multiple Locations
1.4. Reduced Training Time and Enhanced Knowledge Retention
1.5. Interactive Digital Twins of Expensive Equipment
1.6. Virtual Instructors Replace Classroom Instructors
1.7. Improving Employee Recruitment and Career Retention

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How can Virtual Reality Training become a cost-effective training solution?

As businesses continue to evolve, so do their training needs—and costs. Traditional training methods can come with hefty expenses in logistics, travel, materials, and time. However, Virtual Reality (VR) training offers a powerful alternative that provides engaging, interactive, and impactful experiences to save on training costs while maximizing return on investment (ROI) for VR training. Here’s how VR training can help you save on training costs and boost ROI. We’ll go through the initial investment cost of VR training and all the different reasons it ends up becoming a worthwhile investment.

You may also be interested in the actual cost of VR Training, so click here to read an in-depth guide on the cost of VR Training.

1. Fewer Accidents and Reduced Risks

One significant way VR training saves on training costs is by reducing workplace accidents. Employees can practice and learn in a safe, simulated environment, which is especially valuable in high-risk industries like construction, manufacturing, and healthcare. By immersing employees in realistic yet controlled virtual reality environments, they gain confidence and competency without exposing themselves (or the company) to unnecessary risk.

Fewer accidents lead to reduced costs associated with injuries and liabilities, allowing you to save on training costs over time. In sectors where the risk of injury is high, VR training can significantly reduce these risks and the associated costs. Employees who use VR training benefit from experiential learning that allows them to build skills without the dangers of a real-world environment. This not only helps companies save on training costs but also protects their workforce, leading to fewer claims and reduced insurance premiums.

SHIIFT Lockout/Tagout Training VR

SHIIFT Example: SHIIFT Lockout/Tagout Training VR Simulation

Our SHIIFT Lockout/Tagout (LOTO) VR training simulation, designed to enhance employee safety, aligns with OSHA’s estimate that proper LOTO compliance prevents 120 fatalities and 50,000 injuries each year.

Additionally, compliance violations for LOTO can result in a maximum penalty of $16,131 as of 2024, emphasizing the high financial and ethical importance of effective LOTO training.

2. Savings on Travel and Logistics

In traditional training programs, especially for multi-location or remote teams, training costs can quickly add up due to travel, lodging, and logistics. By utilizing VR training, businesses can save on training costs by eliminating the need for in-person sessions. Employees can train from anywhere, experiencing the same interactive VR training benefits without additional travel costs. For businesses with widely distributed teams, this translates to significant savings on travel, accommodations, and logistics.

VR training also offers convenience and flexibility for both trainers and employees, who can complete modules at their own pace from their home location. For organizations with global teams, VR training is an effective way to ensure consistent, high-quality training across all locations, contributing to further cost savings and greater operational efficiency.

SHIIFT Example: SHIIFT U.S. Air Force VR Military Training for TMQ-53 Weather Station Assembly

We developed a VR military training module for the U.S. Air Force to train on assembling the TMQ-53 weather station, which requires yearly refresher training.

Their facility could only host a limited number of trainees and instructors at a time, necessitating costly travel and logistics.

By implementing our VR solution, the U.S. Air Force saved approximately $1.5 million in just the first quarter in logistical and equipment costs.

SHIIFT VR Military Training saves U.S. Air Force $1,500,000 in first quarter

3. Scalable Across Multiple Locations

VR training offers a highly scalable training solution that can be deployed across locations without the need for additional resources. By creating a single VR training module, companies can replicate training programs across various branches or departments at a low cost. This scalability is especially beneficial for growing organizations that need to expand training without stretching their budgets.

With VR, scaling up training is far simpler and less costly than with traditional classroom-based training. Once a VR training module is created, it can be accessed by multiple employees in different locations without additional cost. This allows companies to save on training costs while ensuring that each employee receives a consistent, high-quality experience.

SHIIFT Hazardous Materials Ammonia Transfer Training VR

SHIIFT Example: SHIIFT Ammonia Transfer VR Training for Nutrien

SHIIFT developed an Ammonia Transfer VR Training module for Nutrien, a leading global provider of crop inputs and services.

Our VR training solution is accessible to thousands of employees globally, allowing for standardized instruction, practice, and assessment.

We also have the ability to apply updates to the software across its locations at scale, keeping training efficient and up to date without additional infrastructure.

4. Reduced Training Time and Enhanced Knowledge Retention

One of the most compelling reasons to use VR training is its ability to improve knowledge retention and reduce training time. VR training allows trainees to learn faster and retain information better than with passive methods. This means businesses can save on training costs by reducing the time employees spend in training, allowing them to start contributing sooner.

Enhanced knowledge retention also means that employees require fewer refresher courses, further saving on training expenses. By embedding learning in a memorable, hands-on VR environment, employees retain information more effectively and can apply their skills with greater confidence.

SHIIFT Example: SHIIFT Jobsite Safety VR Training for James Hardie

Our Jobsite Safety VR Training for James Hardie addresses the need for engaging, modern training. This VR approach increases knowledge retention and reduces time spent in training, ensuring key learning points resonate with employees faster.

James Hardie employees are trained on-site safety protocols in a way that is both efficient and effective, creating lasting knowledge while reducing overall training time.

SHIIFT Jobsite Safety Training

5. Interactive Digital Twins of Expensive Equipment

Using digital twins in VR, companies can simulate expensive equipment and allow employees to practice operations without the associated maintenance or wear-and-tear costs. By training on interactive digital twins of machinery, employees can safely learn technical skills that would otherwise require costly equipment.

Digital twins in VR training provide a cost-effective way to familiarize employees with complex machinery without physical access. Trainees can explore and interact with these virtual replicas, learning essential skills that prevent costly errors when working with actual equipment.

SHIIFT Example: SHIIFT F110 Engine Aerospace Training

In the aerospace and defense industry, practical training with live equipment like the GE F110 Turbofan engine can be costly and limited.

Our F110 Engine VR Training enables trainees to practice maintenance tasks without needing physical engines, avoiding risks and costs associated with equipment wear and damage.

Save on aerospace maintenance training costs with VR Training

SHIIFT Aerospace Maintenance Training

6. Virtual Instructors Reduce Challenges Faced By Classroom Instructors

Hiring and managing classroom instructors for in-person training incurs significant costs for companies. With virtual instructors in VR training, employees receive real-time guidance and feedback, replicating the classroom experience without the high expenses of in-person instruction. This allows companies to save on training costs by reducing instructor-related expenses while still providing impactful training.

The cost savings from using virtual instructors extend beyond reducing instructor fees; virtual instructors also offer 24/7 accessibility, allowing employees to complete training on-demand. For companies aiming to maximize their ROI in VR training, virtual instructors are a smart choice, reducing the need for travel, minimizing scheduling conflicts, and reducing training staff costs.

SHIIFT Example: SHIIFT Working at Height Training VR

Our Working at Height VR Training includes a virtual instructor that dynamically responds to users’ actions, providing tailored feedback and instruction.

This virtual instructor delivers on-demand guidance, enhancing the training experience and offering scalable, personalized instruction.

With AI becoming more powerful, virtual instructors can have AI capabilities integrated to have a virtual instructor experience with comprehensive information stored, able to answer any unique trainee questions with voice-recognition within a virtual environment.

Virtual Instructor in SHIIFT Working at Height Training VR

7. Improving Employee Recruitment and Career Retention

Offering VR training can also positively impact employee recruitment and retention, which can ultimately save on training costs. VR training demonstrates that a company is forward-thinking and invested in its workforce, which appeals to new hires looking for innovative and supportive employers.

Additionally, VR training improves employee retention by offering opportunities for growth and skill-building, reducing turnover-related costs. Employees trained in VR feel more prepared, confident, and supported in their roles, which reduces the likelihood of them leaving. This investment in VR training contributes to long-term employee satisfaction, loyalty, and reduced turnover, helping businesses save on training costs over time by minimizing the need for frequent retraining of new hires.

SHIIFT Saves Thames Water $1.5 million with Cost-Effective Virtual Reality Training

SHIIFT Example: SHIIFT Road Safety Training for Thames Water

Our Road Safety VR Training developed for Thames Water saw a +57% increase in staff retention, a +10% increase in employee satisfaction, and savings of $1.5 million in recruitment and training costs.

This innovative training experience created a positive impact on retention, recruitment, and employee engagement.

Save on Training Costs with VR Training!

The impact of VR training goes beyond its innovative appeal—it’s a strategic investment that drives measurable savings and a substantial ROI. By implementing VR training solutions, businesses can save on training costs through reduced accidents, lower travel expenses, scalable training methods, and enhanced knowledge retention. Research has even shown that VR training massively increases the effectiveness of safety training, this all goes to show that embracing VR training is a forward-thinking move that enhances employee safety, learning outcomes, and your bottom line, making it easier than ever to save on training costs.

When executed correctly, the investment cost of Virtual Reality training not only pays for itself but becomes almost irrelevant when compared to the long-term savings and enhanced outcomes it delivers. SHIIFT Training has a proven track record, and years of experience in developing engaging, cost-effective virtual reality training solutions for maximizing ROI of VR Training.

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