Is your organization’s training function in need of a reboot? Recent research indicates that e-learning is the future of professional development across industries. Find out why!
Organizations across industries approach training and upskilling their employees in multitudes of ways. Different perspectives in training preach the best strategies for keeping your employees well-trained, productive and working with a future-forward mindset. No matter your organization’s sector or culture of innovation, many companies share a common blind spot that’s holding them back from maximizing their potential in professional development – they’re using the wrong tools.
The 2019 L&D report from professional development search engine findcourses.com revealed that of the companies surveyed, a whopping 63% forecasted that they’d harness the power of e-learning in their learning and development (L&D) function in 2019. Given the growing number of organizations taking advantage of new technologies in the training field – what is the appeal of turning to e-learning to make the most of your professional development endeavors?
Read on to discover how companies and training professionals across the country are using e-learning to make their L&D function more effective. From ease-of-access to cost-effectiveness and the innovative potential of shifting to e-learning, learn why e-learning is the future of your L&D function!
E-Learning Is More Accessible and Boosts Productivity
The days of long haul HR-run training and onboarding sessions are simply no longer feasible for many businesses. No matter the size of your organization, with remote employees and globally-focused business models, getting everyone into one room for a training session can take months of planning, travel reimbursements, and quickly turn from a bright idea into a logistical nightmare.
E-learning is a simple solution to these professional development woes. In the report, 19% of companies reported that employees’ lack of time was the biggest challenge in implementing training. Options like online courses, micro-learning videos hosted on an e-learning platform or virtual classrooms all help make training more accessible to employees. When it comes to saving time and boosting productivity, studies indicate that e-learning requires 40 to 60% less employee time than conventional training methods.
E-learning-based L&D offers more accessible opportunities to upskill your employees. They can determine when and how to access training materials, putting L&D knowledge to use for maximum impact every time.
E-Learning Packs A Budget-Friendly Punch
In a study done by IBM they found that for every $1 invested in e-learning training, companies saw a $30 ROI in productivity. With the accessibility of e-learning, employees can retain information faster, and immediately implement what they’ve learned in training into their roles.
As a cost-based function for most organizations, when it comes to making the investment in professional development many are hesitant to take any action upfront without a guaranteed ROI. In a similar L&D report from findcourses.co.uk, Director of Learning and Development at HomeServe Rebecca Edwards explained that “The more you invest in it upfront, the longer term the benefits will be. […] Even when the going gets tough, if you’re willing to invest in the right types of development, for the right people, you will get your return on investment in many ways.”
Short-term fixes and one-off investments are just that, short-term. Take the time to evaluate your current L&D strategy, and identify areas where you could make the shift towards e-learning to maximize the impact of your L&D function. By making a more fundamental shift towards e-learning in your organization’s approach to training, you’ll see a better ROI develop over time.
Furthermore, given that employees can return to e-learning materials on their own time – training is more likely to be retained for a longer period and can reduce the amount of time away from keeping your operations running.
Maximize Your Innovative Potential With E-Learning Technologies
Technological innovation is an omnipresent reality for businesses in any sector. It can be an intimidating idea to consider embracing, but also represents a core way to ensure that your business is fending off the fierce competition of today’s globalized marketplace. The potential for e-learning to innovate how your company approaches training can start small, or you can look to more immersive e-learning training options like virtual reality (VR) to kick your L&D function into high gear.
In diverse companies from the NFL to jetBlue, VR has made a lasting impact on how organizations are approaching training. According to Danny Belch, the Chief Strategy Officer at the VR coaching company STRIVR – VR represents the potential for companies to make more significant strides in how employees retain what they’ve learned in training.
With VR, because of the on-demand nature, a real life experience can be fired up with a click of a button,” Belch says. “You can now practice these situations. You can get a legitimate lifelike scenario with full end-to-end practice. It’s not role play. It’s alone and the stakes are free. You have this beautifully free space to practice, to stumble on your words.”
The potential of e-learning-based L&D is truly endless. Technologies will continue to develop alongside training professionals’ understanding of how to maximize its potential. From providing employees with the opportunity to access training materials more freely, a better investment for the long-term outlook of your business, and the ongoing innovations of e-learning platforms ripe for implementation, e-learning is the future of your company’s L&D function.