Running a business, whether big or small, entails a lot of sacrifices and risks. Every owner or COO knows how hard it is to keep the business up and running. For some small businesses, budgets are very tight, and oftentimes employees do multiple roles that are far from their area of expertise just to ensure the business continues.
For businesses in this kind of situation, the commitment to invest time and money for training is the least of their priorities. However, the effects of lack of training for employees can be more harmful to the business in the long run, causing severe impact on employee performance, financial turnover, and the ability to attract and retain employees.
Effects Of Lack Of Training
As an organization, you have a responsibility to invest in and train your employees. To help you understand the importance of investing in training opportunities, here are some of the consequences of lack of employee training:
Low Productivity And Profitability
When workers do not know how to properly do their jobs, they waste a lot of time asking help from a colleague or their manager and they become less productive. Decreased productivity leads to lost profit, and the financial impact is greater when workers make repeated errors due to lack of training.
Unhappy, Unsatisfied Staff
Poorly trained workers are more likely to experience high levels of work-related stress and poor performance at work. If they feel undervalued and unhappy, they would be looking for development and progression elsewhere. In order to retain good staff, it is better to prioritize their development
Unsafe Work Environment
Employers have a legal obligation to ensure that their employees undergo health and safety training. You can face legal problems, more workplace accidents, increased absence, and decreased staff morale if you ignore this responsibility.
Now that we know the importance of adequate training, let us now discuss the importance of implementing a good Learning Management System (LMS). Because of its advance and efficiency, more and more companies choose to do eLearning over face-to-face and classroom training.
According to ATD’s State Of The Industry Report in 2018, 83% of learning professional confirm the use of LMS, and moreover, 71% of them said they have seen an increase in the use of LMS in the past two years.
5 Ways How eLearning Software Can Change Your Business
Understanding the concept of e-Learning is fairly simple. It uses the advanced electronic technologies to access educational and training curriculum outside of a traditional classroom. It may refer to a course, program, or even a degree that is delivered online. It is done through the help of eLearning software that are available in the market for various purposes.
Many organizations are now using digitized learning in training their employees in order to save time, money, and energy. Here are the top 5 ways home eLearning software can change your business for the better.
1. It Improves Productivity and Performance
One disadvantage of the traditional training methods is that it consumes a lot of time. Time that may be used by the employee to do more meaningful job tasks. With the use of eLearning software, workers can participate in their online courses any time they like, even during their downtime at work or at home. That way, the training doesn’t have to get in the way of their more important or time-sensitive work tasks.
2. It is Cost-Effective
Needless to say, the Return on Investment (ROI) is the clearest benefit of using eLearning software. Classroom training incur a lot of costs like travel, venue, and training materials, just to name a few. For outdated training methods, the cost of updating and reproduction is both costly and time-consuming. Online training saves you time and money by updating lesson plans easily and eliminate printing costs.
3. It Allows Timely Feedback
With the use of eLearning programs, employees can get real-time feedback. And since everything is done online, there are no manual evaluation of coursework. Management can conduct up-to-date analyses on the performance and progress of each individual employee. In case the management wants to include some quizzes on the training program, all they have to do is provide the correct answers, and the Learning Management System will take care of the rest and automate the grading and evaluation.
4. Paperless Access to Information
Instead of reviewing the hand-written notes during the training session, online training eliminates the need of paper and takes it out of the equation. eLearning materials are all stored online, so employees can easily access important resources when they encounter a difficult situation and even when they are on-the-go.
5. It Personalizes the Training Experience
Different employees have different learning curves. They do not learn the same way. With the use of eLearning software, employees will be able to control the pace of the training program. The flexibility that eLearning provides allow them to learn in an environment that is favorable for their learning styles.
Impact on Your Bottom Line
There are many other advantages of eLearning that is worth mentioning, but businesses will be more interested in the bottom line. eLearning allows organizations to establish higher quality, and more efficient training experience for employees at a very affordable cost. Employees who are more excited about their training often carry over their enthusiasm into their work. When that kind of engagement is spread across all departments, the bottom line is impacted.