Stat: Businesses that use e-learning benefit from 218% higher revenue per employee
The modern business environment is always evolving. Yet, most businesses only devote about 1% of their time per week to training and development. When employees need to constantly learn new processes, be made aware of updated workplace policies, and more, that’s a problem. It’s a story as old as the internet: traditional teaching methods vs. e-learning.
Some corporations and small businesses attempt to maximize training time using traditional in-person educational strategies. But this may be the wrong way to go about ensuring that your company’s workers are fully up to date on what they need to know. Instead, it may be wiser to harness new e-learning tools, software, and platforms.
E-learning has the potential to reinvigorate your corporate training environment. Ahead, we’ll break down how it can help you maximize your training time to the benefit of employees and the company as a whole.
Traditional vs. e-learning
The world of work is changing rapidly, especially because of the COVID-19 pandemic. Many small businesses were forced to shut down. According to a recent survey conducted by Freshbooks, a whopping 89% of small businesses reported being unprepared for COVID-19 and its long-term impacts. This means hiring and training new employees to replace ones who were let go during the pandemic is of key importance for all businesses. We have to think about which is fresher when considering traditional teaching methods vs. e-learning.
Corporate training is nothing new. However, advanced e-learning tools may offer small businesses a way to maximize training time and productivity. This makes e-learning platforms one of the necessary tools to thrive in a remote work environment. E-learning tools and software are far and away better than traditional corporate training techniques.
Traditional learning
With traditional corporate learning, employees are forced to go through a process something like this. They arrive at a predetermined date and time. Sometimes having to come to work on a workday when they might otherwise be able to have the day off.
They’re forced to go through the training material as a group. This means employees who can grasp the material more quickly are forced to slow down. In short, traditional corporate learning, which takes place in person and with classical teaching modules or classes, is inefficient and doesn’t make good use of your business’s time.
In contrast, e-learning tools allow employees to:
- Attend training with more flexibility
- Take advantage of integrated onboarding systems and tools for a streamlined onboarding process
- Perform training at home without forcing unnecessary commutes
There are many other benefits to e-learning. These key differences illustrate why e-learning software and platforms can be excellent for businesses looking to rebuild their workforces, increase productivity, and save money.
Benefits of e-learning for corporate training
By using e-learning software for your business’s employees, you’ll benefit from distinct advantages. Let’s take a look in more detail.
More employee engagement
For starters, e-learning software is exiting. Additionally, platforms like Teachable are almost always more fun and engaging. Many e-learning tools use games or memorization exercises. This teaches employees what they need to know about their new positions.
This assists with training results. Furthermore, most people learn more easily through games and similar activities. It’s certainly much more efficient than simply telling your employees what they need to know about their jobs. Plus, games are interactive. Moreover, by making learning interactive for your new hires, they’ll be more engaged in their position from the beginning. This can potentially minimizing employee turnover.
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Flexible training scheduling
E-learning tools and techniques allow you to flexibly schedule training courses for your employees. For many employees, the required training sessions for a new job are a big drag on their schedules.
They have to attend work without actually doing anything interesting. Worse, they have to spend time away from their families or other responsibilities. In fact, with e-learning employees can learn what they need to at home. This helps with social distancing rules during the pandemic.
E-learning tools can also be used to keep everyone current on company policies. Furthermore, no more scheduling everyone to come into work after-hours. You can use flexible e-learning tools. Plus, employees can attend the training remotely. Additionally, higher-ups like a chief compliance officer can schedule regular training sessions for best practices and other topics that may need reinforcement.
The advantages are endless. Employees feel like their time is respected. Likewise, they can complete your training more thoroughly. Plus, no one is left behind. E-learning is great if you want to hire freelancers and in-house employees since both new hires can get the same learning experience delivered to their computers.
Better pacing for learners
With traditional learning, employees are often forced to proceed through lessons at the same pace. This is a problem if some employees grasp the material faster than others.
Through e-learning software, your employees complete mandated training at their own pace. Additionally, they will be more productive while working from home. Now they can set their own training schedules. This increases the odds of knowledge retention. As a bonus, it helps your employees feel better about themselves and their positions within the company.
Up to 32% of small businesses report having difficulty with finding qualified talent. More productivity and knowledge retention is a good thing for the economy at large.
Better use of time
Still pondering about traditional teaching methods vs. e-learning? With e-learning tools, you can a lot more time for training. E-learning tools allow you to train your employees more efficiently. You use the same overall training time as you did before. Importantly, you can train more employees and get them through more completed units in the same time frames.
In this way, your employees are better trained. They are also better prepared for their responsibilities in an ever-evolving work environment. Your CPO or other officers in your company can create their own courses. Now, your e-learning material can always be relevant to your business and its goals.
Improved training outcomes
Importantly, e-learning boosts knowledge retention. In other words, if you want your employees to learn as much as possible, e-learning tools are the way to go. E-learning materials are available for a mental refresh whenever your employees need one.
The American Society for Training and Development found that businesses that use e-learning benefit from 218% higher revenue per employee. Plus, 24% overall higher profit margins than their counterparts that lack e-learning. Beyond this, e-learning helps businesses in the long term. Studies suggest that e-learning increased income for about 42% of US organizations.
Simply, e-learning software should be part of your educational and onboarding processes. Through e-learning tools, like courses, your employees are equipped for their daily challenges. Moreover, you are able to train your employees more flexibly. With that in mind, there’s really no reason not to adopt e-learning strategies in your training pipeline.