Companies of all sizes are gradually taking the online route to provide their employee and corporate training solutions. eLearning and mLearning are now supplementing traditional teaching methods to leverage online resources, reach a worldwide audience and provide learners the opportunity to learn anywhere at their own pace.
These benefits apart, it makes business sense to invest in corporate training solutions. Reports show that businesses can save by up to 5% by replacing traditional instructor-led training with online training. Further, they can also cut down instruction time by around 60%.
For companies that may still be sitting on the fence about whether they should invest in corporate training solutions, here, we list 10 reasons why this could be a smart strategy.
1. Reduce Training Costs
One of the primary benefits of online corporate training solutions is that it helps to bring down your training costs. Learn more about How to Optimize Your eLearning ROI.
With online training, there is no need for printing training material or hiring on-site facilitators.
While there is initial investment in creating online corporate courses, the upkeep costs are minimal when you compare them to traditional teaching methodologies. Apart from maintenance, it is also relatively easy to update the courses using a Learning Management System (LMS).
Also, cloud-hosted corporate training makes training cost-effective and flexible.
2. Rapidly Deploy Content
Online corporate training solutions enable quicker delivery of courses. So instead of waiting for content to be printed, you can simply upload it on the LMS, share it across your organization, and provide your employees with a wealth of information with just a few clicks of the mouse.
It may be a case where your sales personnel need additional training on a new product or service, you can use your LMS to deliver training. Here are 8 Advantages of Using a Cloud-based Platform for Sales Training. Thus, offering them the opportunity to access information when they need it the most.
By investing in online corporate training, you can keep all your employees informed and updated, thus improving customer satisfaction and your business processes.
3. Better Retention of Knowledge
Online learning is interactive, as learners learn by doing. For example, learners learn through interactive games (Gamification in Corporate Training: Your Checklist for Training Success), reality-based scenarios and assessments that enable them to digest and assimilate new information.
Besides, they have access to a wealth of both online and offline resources and communities to clarify their concepts and make the subject under discussion more exciting and relevant. Employees can thus effectively use new information and data in their working environment.
4. Ensure 24x7 Access to Information
Online corporate training can be offered through a cloud based LMS, which means that your employees can login to the system, from any corner of the world with access to the internet and a laptop, tablet, or mobile phone.
This round the clock access to information ensures that employees have instant online performance support. Employees can also download content and access it offline for future use in case they have to go to a place with limited internet access or while they are on a flight or any such situation.
5. Learn at Your Own Pace
Given their hectic schedules and complexity of the job, it is becoming increasingly difficult for organizations to carve out special time and venue to impart corporate training. By investing in online corporate training, you can provide your staff the opportunity to access new learning at their own pace.
They don’t have to rush through the content in traditional classrooms or move at the same pace as their co-workers. Rather, they can revisit concepts as many times as they want, till they fully absorb the content and then move on with the training course. Here’s a Guide to use Blended Learning for Corporate Training
6. Reduce Dependence on Onsite Instructors
Another major benefit of investing in corporate training solutions is that you don’t need the presence of an onsite instructor, which means you don’t have to pay for their travel and accommodation. Also, you are spared the need to allocate valuable working hours for training.
This does not mean that you can completely do away with instructors, however, when ever needed, they can use an online environment to deliver training to employees located in different cities or even countries.
7. Quick Updates to Training Content
It may be that you have updated your company policies or that there are new compliance modules and regulations in place that need immediate attention. You can do this by simply updating new policies on the LMS without having to rewrite existing manual or printing guides.
You can also use the LMS communication features to send out mails, making it mandatory for employees to login to the LMS and learn about the new procedures and protocols within a stipulated time frame. This will ensure that your staff is always updated on important policies and are well-equipped to take on competition.
8. Instant Access to Information
With online corporate training, you can provide your employees with the right information at the right time to expand their knowledge, fine-tune their skills, or make a crucial business decision. The resources can be delivered through an LMS in the form of articles, presentations, videos or webinars.
9. Improve Employee Productivity
By investing in online corporate training, you can boost your employee productivity. This is because they have round-the-clock access to self-paced learning modules which they can access anytime, and anywhere, on the device of their choice.
Employees that are better trained and are constantly updated on the evolving knowledge, methods, and technologies will be more efficient and be able to improve your bottom line.
10. Improve Retention Rates
There are several studies that show that employees are more interested in updating their capabilities and skills than gaining rewards and recognition. With corporate training in the form of self-paced modules, available 24X7, employees can achieve their professional goals and improve their knowledge retention rates to better their on-job performance.
Besides, they can also help you identify knowledge gaps and find their core capabilities and strengths. With satisfied employees you can improve your turnover rates and ensure that your investment in corporate training bears fruit.