Prepare for New Changes in Employee Training
1. Quality education on demand
Managers: One of the biggest differentiators between online and instructor-based learning is that you can access it virtually any time, anywhere. Since most eLearning programs allow unlimited access, managers have greater flexibility in scheduling training time for employees.
Employees: Education is a valuable career asset. eLearning is proven to increase knowledge retention by 25% to 60% over traditional learning methods. (Corporate eLearning Exploring a New Frontier, WR Hambrecht) And since eLearning is self-paced, employees can learn at rates appropriate to their individual knowledge level.
2. Less time and expense compared to off-site learning
Managers: Time and money—two resources most managers wouldn’t mind saving. Recent research shows businesses save at least 50% by replacing traditional instructor-based training with eLearning. Additionally eLearning cuts instruction time by up to 60%.
Employees: Those who have online training are more valuable employees. According to a new report by IBM, companies that use eLearning tools and strategies have the potential to boost productivity by 50%. Plus companies that offer eLearning generate about 26% more revenue per employee.
3. Greater ability to adapt to industry changes compared to competitors
Managers: Looking to boost your competitive edge? Seventy-two percent of companies stated that eLearning helps them keep up to date with changes in their industry, which helps them to remain competitive within their niche. (CertifyMe.net) In fact, firms that offer Web-based learning are 46% more likely to be the leader in their industry. (Bersin & Associates)
Employees: Looking to advance your career? By staying up to date on advancing technologies through online learning, employees have more opportunities for promotions and pay increases.
4. Improved employee retention rates and overall company culture
Managers: Educational opportunities are an important benefit to many employees. Did you know 23% of employees leave their job because the position lacks opportunity for development and training? (National Research Business Institute) Companies that offer online training have more satisfied employees and can leverage it as a recruiting tool.