According to dictionary.com, globalization is the process of conducting trade of products and services by extending national boundaries to operate internationally. Companies across the world have adopted this concept of globalization in order to achieve various benefits such as increased foreign money, new market opportunities, better integration with worldwide trade, fast knowledge and information exchange and others.
But by so doing they have to face various dynamic and complex challenges of the global markets.
The following could be a few challenges faced by companies in the global markets:
- Increased Competition
- Adaptability to Social And Cultural Environments
- Reducing Cost
- Continuous and Faster Product Launches
- Customer Satisfaction
- Production and Sales Efficiency
- Adaptability to Fast Changes In Trends and Technologies
Failing to overcome or avoiding these challenges could prevent companies to achieve competitive advantage in the fast changing and complex global marketplace. To deal with this situation, apart from adopting the best technology and equipment, training of employees is crucial as it could equip them with the required knowledge and skills to deal with new challenges in the global market.
Employees usually require training in various areas such as products, processes, sustainability, change management, lean management, industry standard concepts, supply chain best practices, waste reduction and other such areas to make better decisions. Another vital factor in this regard is that – training on these areas needs to be provided in regular intervals because market situations tend to change very frequently in the globalized scenario.
Some of the benefits of regular training on the above-mentioned aspects are as listed below:
- Training on products help sales personnel to assist and influence customers in a better way so that more sales can be achieved.
- Training on processes results in standardized operations, wastage reduction and quality output.
- Training on supply chain principles equips employees with skills required to make effective localized decisions according to globalized situations.
- Training on compliance helps employees to abide by industry laws and regulations and specific job functions.
But even after realizing the importance of training, the critical question here is – How a large number of employees who are geographically dispersed could be trained in a consistent and cost-efficient manner? Can a traditional ILT method ensure consistency in the training process?
Training through Instructor-Led method may not yield the desired results as the technologies, customer taste, products and market situations frequently change in the dynamic global markets. Also, it is difficult to timely update the employees on newer trends and information through the traditional ILT method.
In this regard, cost-efficient training system like eLearning could help companies to meet training challenges in the age of globalization. Let us see how eLearning could reduce training cost.
According to certifyme.net, eLearning is widely used by corporations as a cost-efficient method to train employees. E-learning courses could be accessed anytime anywhere through online and electronic media.
This could help companies to substantially reduce the expenses they usually incur on instructional cost, experts’ payments for each training visits, maintaining training rooms, and lodging and boarding, while training employees.
Course Development and Maintenance
The main advantage with eLearning is that – once the training course gets implemented, training could be deployed repeatedly a number of times, with little or no maintenance cost.
Although the initial cost regarding the development and implementation of an eLearning module might seem to be on the higher side, it could be very ideal and profitable in the long run of the business. Furthermore, now with the advent of advanced rapid authoring tools, developing an eLearning course has become very easy and less expensive.
Time is Money
Now valuable production hours of employees could be also saved as eLearning training modules could be accessed anytime anywhere through online medium.
Now that we know how eLearning could be a cost-effective method of delivering training to the globalized workforce, what could be the flip side of using eLearning in addressing training needs of global workforce, according to you?
Please do share your views regarding this, we would really appreciate to hear from you.