Advantages of Corporate eLearning Solutions for Employee Training

The unforeseen pandemic of Covid-19 which started as a public health crisis has ended up drastically changing the corporate sector forever. Existing research has shown that the pandemic has led to substantial declines in sales and a drop in stock returns. Less productive firms have been more likely to have to cease operations.
So, keeping employees trained and skilled is extremely important as right now, according to CGS research, only 38% of employees are confident in their workplace skill set. It’s not just about getting new hires up to speed, it’s also about continuously getting your workforce to stay competitive. Corporate eLearning solutions in employee training is among the top trends that have picked up in swiftly in this digital age. A survey of 2500 companies found that those with “comprehensive training programs” have a 218% higher revenue per employee and a 24% higher profit margin. The benefits of corporate eLearning solutions are tremendous and are not showing any signs of relapsing. So, let’s delve into it’s many advantages:

1) Cost-Effectiveness

According to Training Industry, Inc., organizations spend an average of $1,299 per employee on training annually. This cost can be significantly higher for large corporations. It often involves costs like travel, printed materials, and hiring instructors. Corporate eLearning solutions in employee training eliminates many of these expenses. This cost-effective approach makes it an excellent choice for organizations, whether they are large enterprises or small businesses.

2) Flexible Learning Opportunities

Corporate eLearning solutions in employee training provide flexibility to employees as they can access training materials whenever and wherever they want. The popularity of flexible learning can be seen in the fact that Coursera an eLearning platform’s learner numbers went up from 45 million in 2020 to 113 million in 2022. This is a game-changer, as it allows employees to fit training into their busy schedules. They don’t have to be in a classroom at a specific time. It’s like learning on their terms.

3) Customized Learning Paths

Everyone is different, right? Well, eLearning platforms understand that. They let employees choose the training that’s right for them. An eLearning platform Udemy for instance, provides about 210,000 courses covering a range of diverse topics. Employees can choose courses and modules that align with their specific job roles, skill gaps, and career goals. This tailored approach ensures that training is relevant and engaging, leading to higher retention rates and better performance.

4) Consistency in Training

In a regular classroom, the quality of training can vary depending on the instructor and the materials used. With corporate eLearning, every employee receives a consistent training experience.It’s like having a top-notch instructor for everyone, making sure everyone gets the same great level of knowledge.

5) Real-time Updates

In some jobs, things change really fast. Corporate eLearning can keep up. It lets companies update training materials in real-time. That means employees are always working with the latest information and practices, helping the businesses to adapt swiftly to changes in the market.

6) Engaging Learning Experiences

Corporate eLearning modules often include multimedia elements such as videos, animations, quizzes, and interactive activities. Research has found that enhanced engagement can lead to a substantial increase in knowledge retention and better overall learning performance among employees.

7) Scalability

As businesses grow, so does the need for employee training. Corporate eLearning solutions are highly scalable, making it easy to onboard new employees and provide ongoing training for existing staff. Whether you have ten employees or thousands, eLearning can accommodate your organization’s needs.

8) Performance Insights

Many corporate eLearning platforms come with tools to track how well employees are doing. This helps companies see where people might need more help or training. It’s like having a built-in progress report.

9) Time Efficiency

Lack of time is the number one reason that holds employees back from pursuing further learning or training according to a survey conducted by CompTIA 2020. Traditional instructor-led training can take a long time. Corporate eLearning solutions for employees are designed to be quick and efficient. Employees can learn at their own pace. eLearning takes 40% to 60% lesser time for employees than conventional learning. This can reduce the time required for employees to reach competency in their roles.

10) Environment-Friendly

Going digital with eLearning can be positive for the environment. Studies suggest that eLearning can lessen energy consumption by about 90% and cuts over 85% of carbon dioxide emissions. It’s a win for your company and the planet while also contributing to a more sustainable future.

11) Global Reach

Corporate eLearning solutions is amazing for companies with employees all over the world. It lets businesses provide the same training effectively to their global workforce. It’s akin to creating a shared virtual classroom accessible to all employees worldwide.

12) Employee Satisfaction and Retention

When companies invest in training, it shows they care about their employees’ growth and development. This can boost morale and increase job satisfaction. Employee retention rates rose from 25% to 60% for companies with comprehensive e-learning programs. When employees feel supported in their professional development, they are more likely to stay with the organization long-term.

In Conclusion

Corporate eLearning solutions for employees are making employee training better than ever. eLearning industries had a total value of $46 billion in 2016 and was valued at USD 399.3 billion in 2022 and is anticipated to grow at 14% CAGR between 2023 and 2032. They offer flexibility, save money, and make learning fun. With customized learning paths and real-time updates, they keep training relevant. Around 42% of the corporate institutions that switched to eLearning have experienced a rise in revenue. In an era where continuous learning is of prime importance, corporate eLearning is not just an option anymore. It’s a smart move for the future of your business, helping it thrive in today’s fast evolving corporate landscape.