Employee development through corporate training is something no organization worth its salt can do without. In fact, in the dynamic digital age we live in, even simple corporate training, is not enough.
eLearning is already a norm in many successful organizations today and its demand continues to increase. The global eLearning market is expected to hit a remarkable valuation of USD 200 billion by 2024. Whoo! What a number! However, there are still a number of corporate organizations that are skeptical about eLearning, due to concerns of it possibly being a bad investment. Such thinking is often due a lack of clarity and knowledge, which is exactly what this is article is written to provide. We present to you the opportunity to clear any doubts and bust any myths about corporate eLearning, and understand that corporate eLearning is not only a fruitful investment, but rather a necessity.
1. It Saves Time
Productivity is paramount in a corporate organization and increases when things are completed in lesser time. Classroom training, which occurs in anti-eLearning corporate organizations, takes up precious time, sometimes as much as an hour or two. Corporate eLearning on the other hand, takes as little as 5 minutes per module when chunked in to bite-sized pieces, known as microlearning. It not only saves a tremendous amount of time, but also provides knowledge that will be used in actual work-related tasks.
2. It Saves Money
Organizations are apprehensive to utilize corporate eLearning as they wrongly believe that involves large costs. In reality, barring the initial cost of setting up a corporate eLearning program, it will save you a lot of money. eLearning instantaneously eliminates the costs of travel and accommodation of employees if they are taken to the training location, the cost of hiring an instructor for every learning session, as well as the cost of facilities such as classroom and equipment, including their maintenance.
3. It Increases the Rate of Learning
According to a study by Brandon Hall, a well-known research and analysis firm, corporate eLearning can increase the rate of learning for employees by as much as five times. The reason for this was found to be the various engagement strategies like visuals, gamification, interactivities, microlearning and scenarios used in eLearning, which are not found in a traditional corporate training program.
4. It Increases Retention
Humans have a tendency to forget things, particularly if they’re not interesting. eLearning combats the forgetting curve of an employee by; a) engaging them through the use of various engagement strategies mentioned before and, b) reinforcing what is being learned using assessments and spaced repetitions. Once learners have completed a course, they are provided with timely post assessments as well as frequent revisions to ensure that they do not forget what they’ve learned.
5. It Improves Employee Performance
You’ll find various studies across the net that corroborate the fact that eLearning improves employee performance by a good margin. As long as the eLearning program has been designed efficiently, keeping the employees needs in mind and using proper engagement strategies, corporate eLearning is bound to result in an increase in employee productivity and performance, which can be measured through KPIs (key performance indicators).
6. It Reduces Employee Turnover Rate
The employee of today has a hunger for knowledge and have a strong desire to climb the rungs of success quickly. They know that in order to do that, they need to inculcate a number of skills in themselves. For those employees for whom learning and development matters, a bad training program is a reason big enough to quit. Corporate eLearning has been known to reduce employee turnover rates, as employees are satisfied with the learning and skill development they are being provided with.
7. It Advances the Organization
Corporate eLearning advances an organization that invests in it as a whole. eLearning develops leadership skills in employees, which make better team players and decision makers, leading to the smooth functioning of an organization. It improves performance, as mentioned above, which also leads to increases revenue for the organization. Lastly, it provides the organization with a competitive advantage over other organizations. All of these are goals are ideal objectives for every organization to achieve.
8. It Creates a Culture of Information
When eLearning is introduced into an organization, it takes some time for the employees to become familiar with the process and understand just how valuable a source of information it is. Once they get the hang of it, they understand that it is a reservoir from which they can access important information or reference materials whenever and wherever they need it. This creates a culture of information in the organization, which means that all employees are knowledgeable and informed about every aspect of the industry, business and the organization at any given time.
9. It Offers Personalized Learning
No employee is the same. While some learn best by reading content in the form of text, others require audio-visual content to learn, or need games to keep them engaged. Personalized learning is an eLearning strategy that can be used in corporate eLearning programs to ensure that every learner/employee learns in the way that suits them. This will increase the performance of each individual employee.
10. It Helps Employees Apply Their Knowledge
What use is knowledge if it can’t be applied in real life? eLearning ensures the application of learned knowledge through life-like scenarios and interactivities. eLearning can also offer tasks to employees where they are required to apply learned skills.
Well-trained employees are the force that drives an organization forward, an indication of a strong and worthwhile investment. It is time that every corporate organization embraces eLearning and watch themselves soar!
If you would like to learn more about how to build the most effective employee training strategy!
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