Meeting L&D Needs By Training Online
Nearly 77% of American companies utilize training online through eLearning and online education platforms. The transition to online learning is not surprising, as the need to be mobile and technological is growing exponentially each year. The corporate eLearning market itself is expected to grow nearly 13% every year for the next five years.
While Learning and Development plays an integral role in the success and growth of a company, it can often be costly and inefficient. The 2015 Global Human Capital Trends found that 85% of respondents classified L&D as “important” or “very important”; however, they also found a significant gap in companies lacking preparedness to meet this growing need. Employees are increasingly demanding more education opportunities, but many companies don’t have the resources. Since L&D is the top HR function aiding in retention, businesses often lose great talent to organizations that offer more L&D opportunities. This creates a vicious cycle for businesses struggling to keep and attract employees.
Companies want solutions that are convenient and cost-effective, and training online has become the answer. HR departments are looking for ways to streamline L&D processes to make it simple and easy for low cost—and that is where training online comes in.
The technology learning market increased by 27% in 2015, making it a $4 billion industry. The reason for this? Technology spurs innovation, and technology learning reimagines the confines of the traditional classroom.
Utilizing training online has significant benefits in a growingly mobile, screen-based world:
- It is easy to streamline, update, and spread information in a scalable and efficient manner.
- eLearning saves money teachers, physical space, and learning materials. It also saves time that people would be pulled off the job; instead, they can focus on their training at the most convenient times for their schedule.
- Online training can easily be linked to talent management processes in order to track employees’ success. Thus, the training can easily be correlated to their success, which is useful for HR data and reporting.
- There is a wide variety of offerings in the training online sphere, including:
- Onboarding and new hire
- Skills Training
- Sales Development
- Customer Service
- Executive and Promotion-Based
- Policy and Organizational Culture
Training online is increasingly popular with employees primarily as a way to manage their own development. After online training, employees respond with higher engagement and retention due to the interactive nature of multimedia platforms like videos, audio, games, simulations, and blogs. Offering a full catalog of training online also enables employees to take extra courses if they would like. They are able to promote their own development within the company, which retains the best talent. These employees have access to new skills, strategies, and training that boost their productivity and the overall performance of the business.
While the demand for learning and development is growing significantly, training online with eLearning platforms is increasing at an even higher rate. Employees can access online programs anywhere, anytime, with any topic. Training online makes growth, development, and success just a click away.
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