The steep rise of the e-learning industry has been a significant one. According to the Docebo E-learning market trends & forecast 2014 – 2016 report, the growth of the e-learning industry has been up to 900% since the year 2000 and according to Ambient Insight 2012 – 2017 Worldwide Mobile Learning Market, 42% of companies said that e-learning has led to an increase in revenue. Numerous global organizations have become actively involved in e-learning as they have understood how impactful and rewarding it can be. It allows organizations to have a competitive edge, simply because it provides employees with exceptional opportunities to learn and improve their skills and knowledge.
Since employees are the biggest asset of a company, the more they are qualified, the better it is for any organization to boost productivity and profitability. As employees become more satisfied with their jobs, they are more likely to work harder and therefore largely contribute to the company’s success. This is how any business can start booming. All this happens because employees were empowered to go the extra mile and help their organization flourish.
E-learning can help you achieve all this. This explains why this modern learning solution has become so important and prevalent in the corporate world, no matter the industry or niche. E-learning has proven to bring some major advantages to workforce training and at the same time, supports organization’s goals.
Here are some essential ways in which e-learning supports organizational business goals:
- Better training costs.
It is certain that producing learning content takes a large amount of time whether it’s online or not. With the use of e-learning, every time a course is accessed, your return on investment improves because you are dividing the fixed production costs by number of uses. Besides, e-learning allows you to have savings through decreased travel, reduced material, and more efficient performance.
- Decreased material costs
An effective training usually involves practice in a simulated job environment. It would have been very costly if you had to arrange a real job environment only for training purposes. Setting up a fake environment has material costs and labor. E-leaning allows you to create the environment online where the learner can start practicing with only few clicks. Hence, you never have to worry about the costs associated with set up, use, and clean up. For example: The scenario-based video training at Procurement Academy provides employees with real job situations through short videos. This allows them to be better prepared for any situation and they can actively apply the skills they are learning in their jobs.
- Increased productivity
Since e-learning is not restrained by geography or time, it is possible to control training’s impact on production by training people during down times. Besides, it’s like asking people to do more with less. Therefore, e-learning is one of the best ways to give employees the tools and skills needed to enhance their performance.
E-learning provides you with a standardized process and consistency in the delivery of content. Besides, it also compresses delivery time. E-learning delivers consistent content and this is a great advantage if your team is scattered around the world.
- Complying with Laws
Due to the rising concern about sustainability and environment and emphasis on ethical business practices and workplace norms, organizations have to face a number of laws and regulations. Not abiding may negatively impact the reputation of the company. Scenario-based E-learning proved to be a great success for a large number of organizations on a variety of compliance subjects such as safety, sexual harassment and anti-bribery. Besides, E-Learning represents one of the best options to train employees effectively, both in terms of learning and the cost of training. Moreover, it can be done in multiple languages.
E-learning supports the Learner’s Development
Apart from contributing to the achievement of organizational business goals, e-learning also supports learner’s development to a large extent. It is a win-win situation for both the organizations as well as the employees. Here are few ways how:
- Real-time access
In-class training usually require that those who participate to align their schedules to the training calendar. With E-learning, the course can be accessed anytime, anywhere. With just a few clicks, learners are able to access their training courses during their free time, may be in the comfort of their home. This surely allows them to feel more comfortable and therefore more engaged in what they are learning.
- Improved retention
The use of multimedia and instructional design provides a very rich learning experience that learners would more likely want to replay again. With some good practice activities with feedback, you can create a learning environment that’s going to help your learners retain the course content more efficiently. This is likely to lead to more productivity at the end of the day.
- Personalized learning
Through e-learning, content is according to the needs of the learners. For example: at Procurement Academy, e-learning solutions are provided based on what the employees need for their roles. The process in doing so includes a gap analysis which is carried out prior to assigning the learning program. This provides an in-depth insight about where the employees need improvement. Hence, they are given a learning plan which is directly linked to their roles.
- Monitor Progress
E-learning allows learners to track their progress unlike traditional training where tutors and records are required to give a clue about the learner’s performance. Digital learning proves to be more efficient and a great way to save time. Employees can easily have a look at their overall performance which allows them to stay motivated to do well and earn their valuable certifications at the end of their programs.
E-learning represents one of the most efficient training solution in today’s fast-paced corporate world. It is highly viewed as a very effective way of learning since it helps organizations create high-quality employee training at a lower cost, empowering their workforce to upskill their capabilities and be genuinely excited about learning. Eventually, they are more engaged and satisfied with their jobs. At the end of the day, it greatly contributes to higher revenue and ROI.