Why You Should Invest in Corporate eLearning?
Many companies have made the decision to move their corporate training to an online platform. Overall, investing in employee training allows companies to improve their employees’ performance, productivity, and efficiency. But why invest in training for employees online? The switch to eLearning has many advantages, a few of which we’ve listed here.
Lower Training Costs
Transitioning to eLearning courses will save your company money in both the short and long term. Generally, setting up an eLearning platform should only cost about $4-5k, and the proceeding costs will also remain low. When you invest in employee training on an online platform, you can save your company money while increasing employee productivity.
Also, with eLearning, there is no need to print out materials like manuals, books, and handouts, hire training facilitators, and waste time organizing training courses. All information can be easily accessed, saving time, and therefore money.
Readily Accessible Digital Content
Unlike traditional learning methods in a classroom or conference room, eLearning allows content and knowledge to be easily accessed by employees from any device, computer, laptop, or phone. There’s no need to keep track of papers when all of the training materials are in one place.
Employees will be able to utilize training videos, notes, relevant infographics, tests and quizzes, and company-specific information. Also, mobile eLearning allows employees to work at their own pace and schedule, at home, or wherever they might be.
Quick Information Sharing
Given that all of the relevant content and information is so readily accessible, the next benefit of corporate eLearning is how easily that content and information can be shared. eLearning aids in centralizing all of the information, allowing the convenient dissemination of notes, articles, videos, and webinars.
When resources and knowledge can be shared quickly and easily, it results in greater participation, productivity, and collaboration, and employees will be able to expand and retain their knowledge on the given information.
Convenient Content Updates
All eLearning content and materials can be updated easily to better reflect evolving information, procedures, and policies. There’s no longer a need to print out entirely new manuals when small changes are made because these changes will be available and taught on the eLearning platform.
New content and resources can be easily added and disseminated to a wide audience, and certain modules or materials can be made mandatory for employees to do. With eLearning, you can keep your employees informed and up to date without any hassle.
Return on Investment
One of the biggest benefits of investing in employee training and development is the rate of return on investment. Employee training through eLearning improves the quality and efficiency of the employee’s work, increasing the productivity and profits of the company.
The American Society for Training and Development conducted a study that found that when employers spent $1,500 a year for employee training using eLearning, the company’s profit margins expanded to 24%. Shareholder return increases by 6% for every $680 that a company spends on training with eLearning.
Knowledge retention is one of the most important aspects of any corporate training program. In order to ensure employees are retaining relevant information, eLearning programs offer many useful tools. Most eLearning platforms have interactive features that help employees remember their training long-term.
Employees can access training materials they’ve already used in order to reacquaint themselves with anything they’ve forgotten. Easy access to content, the ability to revisit the training material, periodic tests and quizzes, and other interactive features make eLearning the best way to increase employee knowledge retention.
Why should companies invest in the training and development of their employees? Corporate eLearning can greatly increase the productivity and efficiency of employees. IBM conducted a study that found that for every dollar spent on employee eLearning and training, there is a $30 increase in overall employee productivity.
These eLearning training sessions are created to better employees' understanding of the products and services offered by the company and train them to be more efficient and thorough. This improved knowledge of the company leads to improved productivity.
One of the most important aspects of operating a business successfully is staying ahead of the competition. Working towards and achieving a competitive edge over other companies with similar products and services should always be of high priority.
With eLearning, employees can stay up to date with changes in the market, as well as have a deeper understanding of their industry and services. Studies have shown that companies that implemented corporate eLearning saw an increase of 72% in their competitive edge.
Reduced Employee Turnover Rates
Corporate training is an investment the company makes in employees. Productive, knowledgeable, and satisfied employees are less likely to leave the organization or company, reducing turnover rates.
Given training, resources, and professional development opportunities, employees are more likely to feel motivated to continue improving their performance within the company, rather than looking elsewhere for these options. Also, another additional feature that helps support employees and encourages them to stay, is that corporate eLearning allows them to see their strengths and improve skills.
Personal and Professional Development
Corporate eLearning provides employees with the opportunity for personal and professional development to help them achieve organizational and personal goals. People commonly choose jobs that will allow them to learn and develop professionally and organizationally, so they can continue their growth in the corporate world long after leaving the company.
However, rather than just being a stepping stone, companies who invest in training and development through eLearning can offer their employees more, encouraging them to stay with the company for longer and increasing employee retention.
Allegro Media Design sure transitioning to eLearning will benefit your company not only financially, but also in performance, understanding, and efficiency. Ensure your employees are well informed on your company’s products, services, policies, and procedures, all on a flexible schedule.
Are you looking to switch to corporate eLearning? Contact us to find out how we can help!