The use of virtual reality is always an exciting proposition, especially in a safety training landscape where lives are at stake.
When potential partners see our Pixaera simulations on VR or PC, they’re often enamored by the immersive, realistic, and scalable qualities of our product. Preventing mistakes is the number one priority for these professionals, and they see the potential for simulations to help them achieve their safety goals.
After the initial feelings of excitement settle in, our partners’ focus usually shifts to the second most important thing in a training leader’s world: saving money. Our per-user model is affordable in the short-term, but sharp learning leaders like to think ahead. Inevitably, the question surfaces: How can this help us save money in the long term?
Innovative training and safety leaders can lower costs through more efficient use of their existing budgets. Investing in a scalable, measurable, and immersive platform means savings that can be realized now through reduced travel budgets, less training time, and more effective use of existing technology. Long-term savings are realized with improved efficiency, and there’s no dollar figure that can measure the human value of accident prevention.
Words are great, but numbers add to the story. We've shared some statistics to illustrate the gaps of the training industry, and how simulated learning can generate improvement and cost savings:
There are 2.78 million work-related deaths each year across the globe.
The International Labour Organization (ILO) reports more than 374 million occupational accidents each year, and nearly three million of those are fatal. Insufficient training and preparation can take a massive human toll.
Workplace accidents account for nearly 4% of the world’s annual GDP.
While the human toll is most disheartening, all of those accidents come with a significant financial bill as well. Poor occupational safety and health practices account for costs that make up nearly 4% of the world’s annual Gross Domestic Product (GDP), per the ILO.
66% of employees aren’t fully satisfied with their job-specific training.
According to data from Lorman, roughly two-thirds of employees feel that their company’s training programs leave something to be desired. This could be the result of a lack of user buy-in, inadequate training tools, or a sense that leadership isn’t invested in training.
VR helps reduce workplace incidents by 43%.
VR training has proven to be an effective tool compared to traditional methods. Companies in high-risk industries experienced a 43% reduction in injury rates after implementing virtual reality training.
Travel costs can be reduced by 50% with scalable simulations.
One of our partners is FieldCore, a General Electric-owned field services maintenance business that focuses on the energy industry. FieldCore took advantage of Pixaera’s scalability and deployed simulations via PC to avoid large investments in new technical infrastructure. The company drastically reduced its need to fly employees to specific locations for in-person training, halving its travel budget in the process.
VR users learn material 4x faster than in the classroom.
Certain skills can be acquired four times as fast with the help of a VR headset, according to data from PwC. That means workers can spend less time reviewing safety material, and more time generating revenue in the field.
Deliver value. Realize ROI.
The ROI on simulated safety training is clear, and the numbers back it up. Resourceful training leaders can save time, money, and lives by leveraging simulated learning for their company. The best way to realize these short and long-term savings is to get started. Pixaera offers affordable, per-user options for VR and PC learning simulations that can be easily deployed across your network of users.
Pixaera’s goal is to reduce incidents by transforming safety training with an immersive and scalable platform that increases retention and produces measurable data for actionable insights. Get in touch today to start putting your training dollars to their maximum potential.