With the ever growing need to increase employee competency and productivity, raises the need for training. Organizations spend billions of dollars every year on employee training. Global Industry Analysts, Inc., (GIA) reports that corporate training is a $200 billion industry and the share of eLearning is $56.2 billion. This will grow up to $107 billion, by 2015.
As you can see, training is an integral part to achieve organizational goals. With new age technologies around the corner, organizations have to come up with several easy and pocket friendly ways to train their their employees. Let’s see how eLearning meets the increasing demands for effective and low-cost training solutions.
Delivers precise to the point learning
Thisis the most unique aspect of eLearning, it is precise and to the point. Making use of eLearning to train your employees has advantages such as customization. You have the freedom to decide the course content; what stays in the course and what goes out is up to you. This approach helps eliminate outdated concepts that are no longer of any use to your organization and your people. Your training curriculum doesn’t need to have information which doesn’t help your employees. Instead, you get to train them on information they need to know. So, it doesn’t come as a surprise when the ELearning.com revealed that 77% of American firms have already started using eLearning to train employees at their end.
Improves balance training time and work time
Classroom and ILT sessions not only cost a bomb, but also are quite time consuming. This makes it harder for your staffers to strike a balance between work and training, often resulting in stress and low productivity. With eLearning, your employees have the choice to learn anywhere and anytime they want. This not only gives your people a sense of ownership but also helps them shuttle time between their work and their training at their own convenience. With the advent of BYOD, eLearning has become a boon to trainers and employees alike. 50% of training hours are being deployed through eLearning, blended, online or virtual medium (E-learning magazine, 2012).
Helps meet training deadlines
In most instances, training managers are constricted by time, making it almost impossible to deliver quality training in a short period of time. It is here where learning comes to the rescue. With rapid authoring tools such as Articulate Storyline, Adobe Captivate and Lectora, time is no longer a concern. These amazing tools help produce high quality courses in the lowest amount of time- within weeks or at times even days. This not only helps meet deadlines, but also is easily accommodated into your training budget. Corporations now report that e-Learning is the second most valuable training method that they use.
Reduces training costs by up to 70%
It is a well-known fact that eLearning is a very cost effective training medium. Do you know that it saves significant amount of money, making it the most sought after way to train employees? British Telecom delivered e-business training to 23,000 employees in three months at a cost of £5.9m, compared to £17.8 million and a five-year time span for classroom training (Source: Taylor, 2002).
Training needs keep changing constantly, and everyone in a modern organization needs various kinds of trainings. Hiring an instructor each time to take them through the training can prove to be an expensive gamble, with no way of measuring its outcome. By adopting eLearning into your training family, you will save heaps of money on instructor fee, travel expenses and training materials. Even something as trivial as a pen and paper can cost an organization millions of dollars! With eLearning, you reduce these costs and have a concrete way to measure the learning outcomes!
E-Learning today is an indispensible tool for training. If you know any other way in which eLearning helps meet training demands, please do share.