According to statistics from IBIS Capital, 41.7% of the most profitable companies in the world, those listed in the Fortune 500, are currently using e-learning tools for online training. Are you still training your staff the old-fashioned way?
Early adopters of this technology see huge savings in the amount of time and money it takes to train (or retrain) employees, while their employees retain more from the actual sessions.
“Many business people think of training as something distracting or often a waste of time. And despite the fact that US business spends more than $60 billion a year in employee development (2013 Corporate Learning Factbook), many executives question its return on investment,” wrote Josh Bersin, an HR expert and contributor to Forbes.com.
“Well our research shows that one of the most important sources of competitive advantage is your entire corporate learning strategy.”
As Bersin stated, the companies that are still using traditional forms of training may not see the ROI in making e-learning part of their day-to-day.
It’s also possible that these older methods have soured them on the idea of training, in general. They have visions of their employees being taken away from their jobs for a few hours, while they nod off to a PowerPoint presentation in a boardroom.
And they’re not wrong. But this was the old way.
While every company should aim to provide its staff with the best tools to do their jobs and grow, it’s not cost-effective to experiment with tools in order to find out which ones actually provide a massive payoff. With an investment in professional E-learning software, the statistics speak for themselves: staggering employee development and financial gains.
In fact, a report released by IBM revealed that companies who use E-learning tools can boost productivity by up to 50%. And for every $1 a company spends, it can receive $30 worth of productivity.
Research has also shown that replacing traditional instructor-based training with E-learning saves businesses at least 50%. Also factor in that E-learning cuts down instruction time by up to 60%.
If you say “training session” to the average employee, they may think of the sleepy boardroom scenario described earlier.
However, if you give employees the opportunity to get trained online from their computer or tablet, on their own schedule, the results are more impressive.
The flexibility and efficiency of learning management systems allows your employees to get far more from 30 minutes at their desks than an afternoon in a traditional setting. In fact, they often retain up to 60% more of what they learn, according to The Research Institute of America.
With nearly half of the Fortune 500 already using E-learning technology, the other half isn’t expected to stay away much longer. Most businesses have seen how cloud-based technology has enabled their staff to do more, and they’re likely to see the same value from E-learning. When you use the tools that the biggest businesses use, you can make profits like the biggest businesses.
Like many businesses, you may not know where to start. There are many user friendly tools on the market that allow you to set up an E-learning website for your employees with minimal effort. You don’t need to be a programmer or know any fancy html to do it.
One online training tool you may want to try is produced by SkyPrep. One of the best advantages to this software is that you can ‘try before you buy’. SkyPrep offers a FREE 30 day trial, as well as free one-on-one demos to all new users. If you think E-learning would make a great asset to your company, then click here to request a free demo of SkyPrep.