Corporate training may be an old concept but it is as valuable for organizations as it was centuries back. Corporate training is offered across industries for several noteworthy reasons with employee development topping the list followed by the need for specialized skill development and improvement in employee recruitment and retention.
Corporate training is a win-win for both the organization and employees. It develops and refines the skills of employees, boosts their morale, keeps them motivated, improves their performance and work productivity. It gives them a sense of achievement and makes them feel productive employee skillful. The increased productivity through highly trained staff brings more revenues to the company and improves business profitability.
Where organizations can’t do without corporate training, does incurring a huge cost on training employees payoff equally? That is a big question. Before we answer this mighty question let’s first take a look at exactly what kind of cost we are talking about.
According to 2014 Corporate Learning Factbook, US spending on corporate training grew by 15% last year to over $70 billion (the highest amount of spending in seven years).
Coming back to our point of discussion, the cost associated with corporate training cannot be overlooked but let’s just say it can be reduced tremendously which can offer as good or even more impressive results from the training than before. Wondering how? By shifting to e-learning corporate training!
Online Learning- Modern Day Take on Corporate Training
It’s about time you made the transition and adopted e-learning corporate training. It is a modern day and a smart business approach for developing employees into highly skilled professionals, increasing organizational productivity while curtailing the cost of doing business.
Many organizations across the industries have made this transition and shifted towards corporate e-learning. And here are some of the many reasons for the ever-increasing acceptability of e-learning in corporate environments:
Lowered Training Costs
An online training system can considerably reduce your investment in training. It reduces the travel, venue hire and catering costs, that are associated with classroom based training sessions while increasing employee productivity subsequently.
Increased Access to Training Courses Through Learning Management Systems
Corporate e-learning opens up opportunities for employees to access material, training sessions, files according to their own convenience. The courses are available online, which can be reviewed again. Furthermore, since the content and training sessions are online, employees can view them from their desk and go through them whenever needed.
Increased Job Satisfaction and Reduce Employee Turnover
Since LMS corporate e-learning offers self-paced learning options, it increases job satisfaction among employees and keeps them motivated thereby lowering the employee turnover ratio.
It Gives Organizations the Flexibility to Upload Relevant Training Content, Coursework and Lectures Easily
Companies don’t have to plan training sessions every time there is a new change in the industry. Through LMS companies can upload relevant training content for employees and ensure they have the skills needed to cope with the change.