When thinking about investing in something like a learning management system or student information system, one of the biggest considerations you’ll probably have to make is whether the amount of money you’ll spend is worth what you’ll get out of it – your return on investment.
It seems relatively straightforward to look at ROI in the traditional sense – the number of additional students your school could attract, support, and retain by using a school management system and the associated tuition dollars that come along with those students.
But, let’s think about ROI in a slightly different sense.
As a school, your faculty is probably your single greatest expense. Hiring and retaining truly exceptional educators is not inexpensive, nor should it be. So, why not look at something like school management software as a small investment in your faculty?
When we hire teachers, we budget some amount for classroom materials, textbooks, etc. so our teachers can do their job. If a teacher is earning $40,000 annually we don’t think twice about allocating $400 for classroom materials to ensure they do their job successfully. What if, for an additional $100, or even $200, we could ensure that teachers are using their time effectively, communicating with parents on an ongoing basis, getting better insight into student performance, interacting with kids online in engaging ways? Is there any reason to not make the small incremental investment to maximize teacher performance by giving them the best tools, when we look at this with the understanding that teachers are truly the most valuable – and most costly – asset for any school?
Of course, looking at traditional ROI will always be an important part of the decision-making process for a school, particularly when budgets are tight. However, increased teacher effectiveness and parent satisfaction are benefits that, while hard to boil down into monetary figures, can really make your school stand out in a crowd.
Want to see the figures for yourself? Check out our ROI calculator. Plug in your school’s info and see how better utilizing teacher time can make a huge difference for your school.