5 Reasons to Invest in Online Training
Amid increased competition and a growing need to enhance customer satisfaction, organizations are devising new ways that help them leverage consumer demand and stay competitive. Online training is the latest trend to be adopted by businesses the world over and has already produced significantly positive results.
According to a report published by Greenice, a leading web development agency, nearly 77% of companies in the U.S are currently offering online training to their workforce with the aim of improving their employees’ “professional development”. The same report outlines the expected growth of the corporate e-learning market to be at 13% per annum by 2019.
There are indeed many benefits to investing in online training. These include:
- Less Time-Consuming: According to the study conducted in the report, online training sessions, on average, take 40%-60% less time than one conducted in a classroom setting. This is because most of the learning offered is self-paced, thereby allowing learners to choose a time and place that is suitable to them for learning. In addition, much of these sessions are broken down into bite-size chunks which helps learners spend as little as five minutes on each session.
- Decreased Costs: Several stats present in the report point towards reduced costs as one of the main benefits derived from online training. It states that 26% of companies were able to see a decrease in their costs once they introduced online training. The overall cost per employee for online training was far less than those receiving training via a classroom ($11 per online learner as compared to $95 per classroom learner). All in all, organizations are able to save a minimum of 50% after they transitioned from classroom learning to online training.
- Greater Learning: From employee responses, researchers were able to determine that participants of an online training session were able to retain up to 60% of the course’s content. This was much higher compared to face-to-face learning which only amounted to 10%. This was because of the use of reinforcement to help learners retain the knowledge gained.
- Better Performance: Many organizations that participated in the survey highlighted the link between online training and productivity. 53% saw an increase in productivity and engagement while more than 10% saw improvements to their key performance indicators (KPIs). This was because much the content in the online training course was relevant to the work that was being performed. In addition, many of the tools provided by such courses, such as action plans, templates, playbooks and checklists could directly be applied to work.
- Achievement of Company Goals: By introducing online training to their employees, 46% of companies were more likely to become a leader in their industry while 42% said online learning led to an increase in their overall revenue. Additionally, 58% stated they felt prepared to meet future demands while 72% believed online training provided them with a competitive advantage.
The numbers definitely do not lie. Numerous organizations have been able to reap the benefits of online training in the form of increased revenue and rising productivity. With added skills and knowledge, employees are in a better position to meet customer expectations.
At Diversified, our training methodology uses a mix of self-paced online training, in-class instructor-led training and on-site field training. Learn more about our employee development programs – LEAPS and TEAMS