Top Seven Business Benefits Of E-Learning For Employee Training
Employees are an essential part of every organization. Companies need to take every measure to retain their employees. It is evident that there can be no other method of obtaining knowledge than through learning and training. In order to succeed in their role, it is essential to provide employees with learning opportunities to develop necessary skills and knowledge. Employees indeed look for opportunities to upskill and grow themselves, and if their company can offer them that, they are more likely to stay. According to the reports of Ecom Scotland, around 75% of companies across the world use Learning Management Systems (LMS) and e-Learning trends to provide all of their training today. When employees are properly trained, they are set to overcome the challenges and objectives of their jobs.
Thus, multinational companies to start-ups are adopting online workplace training trends to enhance the skills of their workforce. This eventually leads to the rise of e-Learning apps as the workforce includes a more technologically advanced workforce. With the pandemic happening, the online education industry has experienced rapid growth and been swept up in the global pandemic.
Yet, what are the benefits of providing employee training via e-Learning? Before we discuss more about e-Learning, let’s understand why employee training is vital for organizations?
Employee training defined:
We often assume that training is offered to employees as soon as they are onboarded and ends after a few days of probation. However, it is not. Employee training is an ongoing process that never ends. It is the company's responsibility to train its employees to stay on top of the latest ideas, innovations, and technologies.
Do you realize how much money you could lose if your employees lack training? Implementing a good employee training program can benefit a company as it enhances employees with the required skills for their jobs and ensures that they adhere to industry standards.
What makes employee training so important for an organization?
- To evaluate the progress made in an improvement effort.
- To help an employee prepare for a planned change in the role within the organization.
- Employers are encouraged to learn how to utilize technology effectively.
- To maintain a competitive advantage.
- To reduce technical errors and promote workforce safety and health.
- Boosts employee productivity and profitability by increasing their efficiency.
- Well-trained employees are more engaged and motivated at work.
- Employees have the opportunity to improve their careers and grow personally.
- Provides better experience and knowledge that benefits their career progression.
- Trained employees save the company money.
- Use all equipment, materials, and tools to their fullest capacity.
- Training in risk management programs like harassment and diversity.
- Enhanced employee morale and job satisfaction
According to the National Research Business Institute (NRBI), approximately 23 % of employees quit their jobs because of insufficient training or development. In turn, these impacts recruitment costs, productivity, and talent retention costs. Investing in the most effective and robust training techniques will ensure that employees remain up-to-date on technology and standards without sacrificing effectiveness.
This is why e-Learning is becoming increasingly important as a method to train employees.
e-Learning for Effective Employee Training
Technological advancement has made learning more efficient, robust, and accessible. In a pandemic-ridden world, technology-enabled online education and skill training are a lifesaver. e-Learning is one of the most recent ways of sharing knowledge.
As the name implies, e-Learning refers to a mode of teaching that relies on electronic resources to complement traditional teaching methods. Regardless of whether a lesson is taught in or out of a classroom, students must utilize electronic devices such as laptops, smartphones, tablets, and computers. These are major components of e-Learning.
This has led to the rise of various learning management systems (LMS) that keep the entire learning process as precise, simple, and organized as possible. A study conducted by Markets and Markets, the global LMS market is presumed to rise from USD 13.4 billion in 2020 to USD 25.7 billion by 2025. Despite this, a large proportion of our community still views e-Learning with uncertainty. There is no doubt that e-Learning is more cost-effective than instructor-led training, but it also accomplishes so much more. To develop a digital learning or development strategy, ensure you understand the benefits e-Learning brings to your business.
Top business benefits of [e-Learning
Take a look at the incredible benefits of having e-Learning in your organization!
- e-Learning is cost-effective
Many companies spend a lot of money on providing instructor-led training to their employees. e-Learning is a much more cost-effective alternative to traditional classroom training and instructor-led training for Fortune 500 companies and start-ups. People can share and obtain knowledge more easily with the use of this electronic device-enabled learning process. As per the statistics of the e-Learning Industry, an organization can drastically reduce its training costs by 80%. Unlike classroom-based courses, online courses do not involve the costs associated with instructors, study materials, travel, and accommodations.
- Personalized Learning
In recent years, e-learning techniques have grown at a staggering pace. In terms of employee training, e-learning offers one of the main advantages that an organization can choose from. With effective implementation, employees will be able to provide training programs with targeted expertise. e-Learning allows employers to create personalized learning as per the needs and preferences of their organization and employees. This will help the organization to achieve its business goals.
- A Contextualized Approach to Learning
A comprehensive learning platform can enable learners to easily adapt and decode digital content to fit the needs of entire learners or employees. In order to maximize their impact, learning interventions and performance support content should have relevance.
Technology that enables employers to change out elements easily, deliver content in multiple languages, and provide personalized pathways will assist them in achieving this goal.
- Save Time
In addition to saving your organization money, e-Learning can also save your employees a lot of time. In addition to saving your organization money, e-Learning can also save your employees a lot of time. There is no denying the fact that time is money. It is important to note that it holds up in the business environment. As per the report of EdgePoint, employees learn up to 60% faster with e-Learning than with traditional methods. This is due to new concepts and techniques introduced by e-Learning, such as gamification and interactive video. It has been proven that such learning techniques are more powerful and efficient than traditional ones.
- Exceptional Learning Retention
There is no doubt that e-Learning is the best and most effective way to train the workforce on specific topics. e-Learning can significantly boost employee engagement and retain key learning with engaging digital content like audio, videos, texts, and games. This makes the reference material easier to refresh and update when necessary. This is particularly true for specific and detailed training such as product training, software training, compliance training, or training guides that can be accessed from anywhere.
- Easy Accessibility
The process of attending hours-long instructor-led training sessions can be tiring for modern employees. Nowadays, learners expect access to knowledge whenever they want it. This is where e-Learning can help. It's accessible all the time, anywhere in the world. Employees can easily incorporate learning into their daily routines by using this approach. The organization can deliver online resources with all the answers to employees, regardless of where they are located. All the material is at their fingertips and just a click away. Employees can access it with their mobile phone, laptop, tablet, and desktop computer. e-Learning allows the workforce to avoid finding time to learn when they are tired from a long day's work.
- Scalable solution
A scalable training solution can be taken by as many people at the same time while maintaining costs low. e-Learning is one of the most scalable learning ways because it is flexible and individualized and can be used by as many people at once as necessary. e-Learning helps organizations onboard remote workforce easily, comply with regulations more quickly, and boost productivity and performance.
Other benefits include:
- Facilitates global collaboration
A major advantage of e-Learning is global collaboration, which can be a critical factor in a company's growth. Employees from all over the globe can unite and communicate via e-Learning solutions, often providing them with the chance to become part of a more significant discussion.
Despite this, most e-Learning platforms have a highly interactive approach to delivering information, allow employees to exchange ideas, and opinions among themselves, and improve their skills and make a difference.
- Regular results and reports
To measure the productivity of any initiative, results and reports are required. With an e-Learning platform, tracking and managing data about employee engagement and learning becomes far too easy. The success of an organization's training program can be tracked using assessment grades, course completion rates, engagement in forum discussions, etc. It will be easier for employees to figure out where they need to improve if they can see where they are lacking.
Want to train your employees effectively? Rezolve.ai can help you. With Rezolve.ai, you can build, manage, and measure learning focused on people with the tool that organizations worldwide trust.