Want to improve employee training? Learn about the objectives of a learning management system and how to decide on the right modern LMS for your company.
Benefits of e Learning
The benefits of e Learning extend far past the desk of your employees. Learn why eLearning is an essential tool to train your organization’s modern learner in today’s fast-paced, digital work environment.
Traditional training methods, like classroom training, have their place in a blended training program. However, they can be expensive and time-consuming. The cost and logistics that go into organizing a face to face training add up: instructors, venue, learning material, etc.
Alternatively, eLearning provides a variety of training modalities that are both cost effective and mobile.
Let’s start with the definition before jumping into the data.
What is eLearning?
The eLearning definition, short for “electronic learning,” is any type of learning or training material that can be consumed digitally:
Online training provides significant flexibility considering the state of the modern learner. Even this blog is classified as a form of eLearning! At the same time you’re reading this content, you’re probably also writing an email, responding to a Slack from a coworker, prepping for a meeting, mentally responding to new text messages, and thinking about lunch.
Bombarded with constant, digital communication via notifications, text messages, entertainment, etc.—distraction is the greatest downfall for modern learners. If harnessed properly, online learning can streamline and support employee training and management development.
As eLearning continues to grow, so does its spelling variations. If you’re interested in any form of digital learning, you might search the terms: “eLearning,” “e learning,” “e-learning,” etc. According to Google Trends, keeping the term as one word — “eLearning” — is the most searched spelling over the past year.
To conclude this short point, there will likely always be a dispute around which spelling is correct (especially among SEO experts). However you decide to spell it, using eLearning for employees is what matters most for your business.
At this point, you’re probably thinking, “Great, so a lot of people search for “eLearning” on Google. But why invest in eLearning? What makes it effective?”
Well, we’re glad you asked.
Why Invest in eLearning?
Global Market Insights, Inc. reports that the global eLearning market is projected to reach $300 billion by 2025. More and more businesses are investing in eLearning—not because it’s a trend—but because the benefits of e learning have proven results.
Mark Van Buren, director of research for ASTD, tells HR Magazine: “It is clear that a firm’s commitment to workplace learning is directly linked to its bottom line.” Not only do profits increase when eLearning becomes a priority, but so does efficiency and employee retention.
Benefits of e Learning
1. Improve Profits.
Industry data suggests that when employers invest $1,595 per employee each year on training, gross profit margins improve by 24%. Now that’s a statistic to take back to the boss! Every good investment produces an ROI to prove itself as a viable business endeavor.
2. Reduce Training Time.
A study conducted by the Brandon-Hall Group reports that eLearning significantly reduces training time compared to classroom learning—40-60% less time actually.
3. Increase Retention Rates.
eLearning can increase retention rates by up to 60%, compared to traditional training methods, which only boast a small 10% increase (The Research Institute of America).
When to Use eLearning
The corporate learning and development space is evolving every year with new technology and advancements. For instance, retraining employees will become just as important as onboarding new hires as a result of automation and AI.
Think of your opportunity cost—is it a better use of time and resources to rally employees together for in-person training (i.e. fly in remote workers, book a venue, pay an in-person trainer, print out all of the learning material, etc.)? Or, is it better to task everyone with completing the same training via a learning management system, then take a learning assessment once it’s complete, so everyone can get back to work?
At this point, when to use eLearning might be self-explanatory—ASAP—but here are a few use cases that may prompt your organization to start using eLearning today.
Training Remote Employees
Is a large part of your workforce remote? eLearning is a great way to provide consistent training across the organization—no matter an employee’s location. Mobile learning enables employees to fit in training “on-demand” as their schedule allows. On-demand training is especially helpful for sales reps with busy schedules who are always out of the office selling.
Sharing Company-Wide Information
Every company has standard procedures, processes, policies, etc. that everyone is expected to follow. Why have an in-person, company-wide meeting when the alternative is more affordable, effective, and convenient? ELearning provides a way to streamline sharing information at all levels of the organization with an LMS. Assign everyone the same material or updates to review and save yourself the scheduling headache.
Onboarding New Hires
Every business needs a comprehensive onboarding process. Save HR professionals time by jumpstarting entry-level employees with training as soon as they join the team. ELearning provides a consistent way for new employees to learn everything they need to know at the click of a mouse. Segment onboarding into organized, manageable sections such as organizational basics, human resources, role-specific training, etc.
Your eLearning Experts
With all of the new corporate training trends each year, it can be hard to figure out which ones to invest in and how to implement them. Are you ready to invest in the future of your company? The potential of your employees is waiting to be developed. Start reaping the benefits of e learning (your employees will thank you).
At Unboxed Training & Technology, we provide award-winning tools and expertise to help you train, develop, sell, and succeed. Contact us today to learn more about employee training and custom management and leadership training programs.
2020 training trends webinar
The start of every new year is a chance to revisit training goals and aspirations for the coming 12 months. How do you know what’s worth your investment?
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