In commerce, things are always changing. E-learning is one force causing major waves in the business world. With the influx of employees taking web-based courses in an online training software or online testing software, businesses are find newer, cheaper and better ways of augmenting their companies. Over the last 15 years the vast majority of company training and orientation has moved online. This has generally been a boon for business. There are five ways that business is being transformed by E-learning.
1 – Cutting the costs of training
E-learning has led to drastic reductions in in training costs for businesses of all shapes and sizes. The scalability of e-learning platforms and content allows business to reach a wider array of employees. In contrast to the soaring costs of formal education, training has never been more inexpensive.
2 – Increased Organizational Adaptivity
Businesses using a learning management system have the added advantage of quickly adapting to changing circumstances. Like new reporting requirements or shifting corporate objectives. Online learning modules are easily updated to reflect best practices.
3 – Consistency
E-learning ensures that the training each employee receives is consistent and on point. No more mixed messages or confusion over the objectives or intended learning outcomes. By ensuring that each employee receives the same training it helps businesses ensure compliance and consistency across organizations.
4 – Attracting the Best and Brightest
By allowing business to offer a number of diverse on-the-job training options, E-learning can help business attract the best and brightest with the promise of continues learning and professional growth. It means fast and painless learning for perspective and current employees.
5 – Retention
It’s been shown that participants in e-learning demonstrate better knowledge retention. Learners can choose learning tools that best suit their needs, increasing their overall engagement. An LMS also helps build institutional memory by providing a ready archive of past and present training programs.
These five major changes are helping businesses meet the needs of the global economy. At the same time, they are providing business with an often untapped and under appreciated competitive advantage. E-learning doesn’t just mean better employees, it means better business.