The world is embracing a remote work culture and reaping its benefits in several ways, including better work-life balance, increased productivity, and even employee training. Companies are leveraging online learning to accelerate and harmonize employee training.
With employees working remotely, businesses must rely on e-learning to stay competitive. It allows employees to gain knowledge quickly and on demand. If your business isn’t using an online learning platform yet, read this article to find out what you’re missing out on.
Importance of E-learning in Businesses
According to a survey of 2500 businesses, firms which use online learning for employee training enjoy 24 percent greater profit margins and 218 percent more revenue per employee trained. This alone demonstrates the need to introduce an online learning platform in the corporate sector.
It’s no surprise that the worldwide e-learning market will be worth USD 325 billion by 2025. Reasons for this might include the freedom of learning at any time and interactive learning resources.
E-learning allows businesses to bridge the skill gap for their employees while educating their customers about their offerings. Both play a crucial role in helping companies to reach new heights. Furthermore, it benefits businesses in several ways, as detailed below.
Six Reasons Why Businesses Should Use an Online Learning Platform?
About 77 percent of American businesses use online learning platforms to enhance employee competence. Here are the plausible reasons for such adoptions:
Offers Custom Training
Since no two organizations are the same, training materials should be tailored to their specific requirements. This is true even within the company’s hierarchy. However, personalizing the learning content in the offline approach takes time because a bespoke solution must be created for each session. However, with online training, customizing the learning material is a one-time event, ensuring in-depth content tailored to corporate needs without wasting precious time.
Saves Significant Time
Online learning platforms make it flexible and stress-free for the employees to take training. This allows them to absorb information quickly. Moreover, virtual learning is interactive, and the information is easy to digest. They also don’t waste time traveling and moving around the venue. This saves them almost 40 percent of their time.
Reduces Huge Cost
Employee training often lasts many days, occurs several times a year, and happens in several batches. This becomes an expensive initiative since you must pay the instructor each time he conducts training and the venue rent, printed material expenses, infrastructure, and other associated costs.
Conversely, online training takes place in a virtual setting, and you can present employees with recorded sessions. This saves your company money on venue and instructor expenses. Yes, you will have to make some technological investments, but it will just be one-time and provide a superior ROI.
Guarantees Better Knowledge Retention
The human mind forgets 90% of the information it learns within a few days. As a result, we must periodically refresh our memories. Refreshing your employees’ memories becomes a time-consuming and costly effort with offline training.
However, learning platforms available online are interactive, which helps your employee remember the knowledge for a more extended period. Moreover, if your employee forgets, he can always access the online materials and refresh his memory.
If your online learning platform offers relevant, tailored, and multiple resources such as work plans, templates, guides, checklists, and so on to staff, the company productivity will skyrocket. Employees will be able to apply what they have learned at work. They will be well-versed in all aspects of the company’s offerings.
They can communicate with clients more efficiently. Their professional performance increases, they assist in boosting the brand image, and they eventually demonstrate greater productivity. The increased productivity of all employees together pushes the company to new heights.
Lowers the Turnover
Aside from money, employees crave for growth. They desire to learn, evolve, and move up the career ladder. Providing employees with quality corporate training and continuous access to learning materials pushes them to improve and contributes to achieving corporate goals. They are more likely to stay loyal and less likely to quit. Switching to an online learning platform indeed helps lower the employee turnover rate.
That’s a Wrap
When your company implements online learning wisely, it will reap these benefits. The more an employee develops, the more they will contribute to the overall success of your business. So equip your company with a well-structured online learning platform and watch your revenue double.