Online Training Software
Calling All Small Businesses: How To Use Online Training Software
If you are a small business owner or entrepreneur, training your employees may be the last thing on your mind. However, funding online training software early on has been proven to be one of the best investments new companies can make.
Large corporations are finding significant success with online training software, so much so that nearly 42% of Fortune 500 companies use some form of technology to train their employees. And they’re seeing strong and substantial results.
It’s time for small business owners to begin to capitalize on these same benefits of online training software. But it doesn’t take millions—or even thousands—of dollars to invest in training programs, thanks to online training software and web-based LMS.
The Benefits of Online Training Software for Small Businesses
Large companies spend an average of $1,889 per employee for training purposes, according to the ATD’s State of the Industry Report.
By simply switching to a web-based, online training software, businesses are cutting costs to less than $100 per year per employee. eLearning allows an outsourcing of training that works to cut the costs of traditional L&D. It also ensurances compliance and creates branded, customizable training materials at an affordable price.
The most staggering statistic comes from a recent IBM study, which found that every $1 invested into online training software and programs returns in $30 worth of productivity. This is true of large corporations and small businesses alike. In this way, business owners who believe that a lack of startup capital and funds is a reason for not using online training software are truly hurting their potential revenue in the long run.
IBM also found that participants learned 5x more material in the same amount of time through online training as opposed to traditional instruction. An investment in professional online training software has been shown to boost employee productivity by nearly 50%. It often cuts down on instruction time, as these learning systems are flexible, convenient, and efficient. With online training software, all learnings are held “in the cloud,” so they can be done anywhere, at any time, on any device. This can save small businesses hours—or even minutes—that can be spent putting that trained knowledge into action to grow the business.
Recruitment and Retention
It’s crucial for startups to attract and acquire top talent in order to grow and innovate in those first critical years. Top talent will only come on board (and stay onboard) if there are significant professional development opportunities and room for growth and expansion within the company. Offering online courses is a great way to help attract, retain, and grow your top talent, which, can in turn grow your business quicker and more expansively.
There has been 900% growth in eLearning worldwide since 2000. As our world continues to get more and more technological, businesses’ learning and development will have to become more digital as well.
That means: it’s time for you and your small business to hop “on line” with online training software.