Building on Success
The profitability potential of Internet learning was hardly lost on the planners at BearingPoint. From that first success, the team at BearingPoint understood that by increasing the deployment of Internet learning, BearingPoint could not only minimize the cost and opportunity cost of travel, but it could also increase revenue. In the world of consulting, where profitability matters, keeping consultants billable and realizing a higher rate for their billable hours ensures revenue growth. By cultivating specialty skills among its promising consultants through a short turnaround e-training project, BearingPoint stood to improve the consulting rates it charged clients for its consulting talent. The executive committee at BearingPoint was prepared to invest in a knowledge repository with technical e-training and certifications.Internet learning as a component of all training and development at BearingPoint had increased from 0 percent in the beginning of 1999 to 65 percent at the end of 2002. The quality of courses remained consistent with a steady 4.2 rating over the years. The cost of delivering an hour of Internet-based learning had dropped from $48 per hour to $32 per hour. BearingPoint boasts an approach that is scalable and will eventually have all its corporate knowledge and learning needs met through online delivery.The return on those investments was evident later when BearingPoint hired more than 1000 former employees of Arthur Anderson in July 2002. The company desired a fast and smooth assimilation to minimize stress and the learning curve for the employees. Using Internet learning, the employees were not only familiarized with the firm's methodologies and strategies, but they were also coached on the minute details of filling out HR forms and timesheets. The initiative allowed rapid transition, shorter time to billable hours, and targeted realization of contracts. |
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