Did you know that job unhappiness is at a record high this year? In their State of the Global Workplace: 2022, Gallup revealed that almost 60% of the global workforce feels emotionally uninvolved and detached from work. 19% of respondents reported feeling downright miserable in their jobs.
Companies lost about $7.8 trillion to low employee engagement in 2022!
Statistics like this are very concerning. When employees feel detached from the work they do or they experience negative emotions at the workplace, it can have a significant impact on their productivity. By extension, it can derail the achievement of your business goals.
One of the main reasons for low employee engagement and higher employee stagnation is poor quality L&D programs and the absence of qualified E-learning service providers.
Learning and Development - The Move from Physical to E-Learning
During the Covid19 pandemic, many companies could not give their employees the learning they needed to help them gain desired professional growth. According to the research from the Association for Talent Development, investment in L&D came down to, on average, $1267 per employee in 2020 – which was significantly lower than 2019’s $1308 per employee.
According to a Gartner survey, almost 40% of respondents felt they didn’t have the right capabilities and solutions to develop powerful and impactful skill development experiences. But, the absence of L&D tech did not douse companies’ desire to maintain a focus on critical upskilling and competency building.
Throughout 2020 and 2021, companies brought in qualified E-learning service providers with the expertise, the learning management software, and the online assessment systems necessary to provide a compelling L&D experience to staff.
Studies into the effectiveness of e-learning from 2021 and 2022 showed that these online learning sessions were, in most cases, equal to or surpassed the effectiveness of physical training sessions. Of these virtual, E-learning service providers enabled sessions, 55% were live online training, and the rest were self-paced.
Today, most organizations have shifted to completely virtual L&D offerings or some form of a hybrid setup through the help of technologically-savvy E-learning service providers.
As HR leaders head into 2023, they have plans for innovating for success. They hope to do this through
- more focused leadership development,
- robust change management and organizational development, and
- improved employee experiences.
More companies will partner with E-learning service providers to achieve this in 2023.
But what benefits do LMS and E-learning service providers offer which make them so integral to the future of employee development and engagement?
3 Major Ways E-Learning Will Boost Profits and Revolutionize Your Business
E-Learning Helps Employees Acquire the Most Current Job Market Skills
E-learning helps employees engage their mind and their senses. It offers them an opportunity to sharpen rusted skills and to learn new ones.
Studies show that the average lifespan of a skill is 5 years. Plus, each year, the competencies and skills needed by employees for a particular job increase by 10%.
E-learning service providers can make available the most current tools and assessments employers need to help train their employees correctly.
When your workforce is skilled in the correct skill sets, it automatically improves their job performance. Even if employees are on Performance Improvement Programs, you will be better equipped to give them the right training for the future.
E-Learning Keeps Employees Tech-Savvy and The Company Tech-Driven
Industry 4.0 is upon us. E-learning service providers can help companies equip themselves with the technological skills and agility necessary to respond to the changing industry landscape.
Most e-learning systems support multi-type content playlists, from static text to AR/VR experiences. Companies can create job-specific simulations that allow teams to learn how to be more effective, productive, and successful on the job. They can test knowledge gained through training using a variety of engaging formats, from multiple-choice quizzes to interactive puzzles.
Apart from this, e-learning technology can help businesses get to market faster. E-learning service providers can support teams in product development and quality analysis by providing the most conducive platform to test their offerings.
For example, the same AR/VR simulations can be used by employees to try out newly released product features or experiment with workplace tools. This can help them make quick design and functionality decisions and reach customers faster than competitors.
What makes the LMS software by e-learning service providers all the more powerful is that they are often cloud-based. Now, training module creators can collaborate more easily on the cloud.
Plus, they can quickly share updated content with the audience as their needs change over time.
In fact, Deloitte research shows that SMEs and start-ups that use cloud-based technology (such as LMS) can grow 26% faster and experience about a 21% increase in profits.
E-Learning Can Improve Training Effectiveness While Reducing Company Errors and Mistakes
Speaking of technology, these tech-centric e-learning service providers can help high-risk industries by giving their employees intensive scenario-based training.
Take industries like safety/security services, chemical formulation, or oil & gas. By working with a multitude of AI-generated scenarios and AR/VR-enabled experiences, teams can learn the exact procedures and processes to follow when dealing with various situations in real-time.
This can save companies from making expensive mistakes resulting from regulatory non-conformance, safety issues, and legal battles.
Additionally, through e-learning, employees can stay abreast with industry changes and developments. They can also become cognizant of how their company is currently responding – and how they should respond – to these changes.
Poll/quiz-based or case-study-centric self-paced training modules can be particularly powerful in these situations. This, too, can help the organization work smart and avoid errors.
Finally, e-learning service providers can play a pivotal role in meeting compliance requirements. This could be in the form of helping employees learn about important operations regulations (such as GDPR) or workplace protections (such as Sexual harassment protection rights).
Since non-compliance with any local or international regulations can result in millions of dollars worth of damages, not to mention the financial loss incurred due to loss of customer patronage, timely e-learning can prevent major problems.
Choosing the Right E-Learning Service Providers Can Make a Profound Difference for Your Company
Before we talk about e-learning service providers, let’s discuss this:
Did you know that job unhappiness is at a record high this year?
In their State of the Global Workplace: 2022, Gallup revealed that almost 60% of the global workforce feels emotionally uninvolved and detached from work.
19% of respondents reported feeling downright miserable in their jobs.
Companies lost about $7.8 trillion to low employee engagement in 2022!
Statistics like these are very concerning. When employees feel detached from the work they do or they experience negative emotions at the workplace, it can have a significant impact on their productivity. By extension, it can derail the achievement of your business goals.
One of the main reasons for low employee engagement and higher employee stagnation is poor quality L&D programs and the absence of qualified E-learning service providers.
Learning and Development – The Move from Physical to E-Learning
During the Covid19 pandemic, many companies could not give their employees the learning they needed to help them gain desired professional growth. According to the research from the Association for Talent Development, investment in L&D came down to, on average, $1267 per employee in 2020 – which was significantly lower than 2019’s $1308 per employee.
According to a Gartner survey, almost 40% of respondents felt they didn’t have the right capabilities and solutions to develop powerful and impactful skill development experiences. But, the absence of L&D tech did not douse companies’ desire to maintain a focus on critical upskilling and competency building.
Throughout 2020 and 2021, companies brought in qualified E-learning service providers with the expertise, the learning management software, and the online assessment systems necessary to provide a compelling L&D experience to staff.
Studies into the effectiveness of e-learning from 2021 and 2022 showed that these online learning sessions were, in most cases, equal to or surpassed the effectiveness of physical training sessions. Of these, 55% were live online training, and the rest were self-paced.
Today, most organizations have shifted to completely virtual L&D offerings or some form of a hybrid setup through the help of technologically-savvy E-learning solutions.
As HR leaders head into 2023, they have plans for innovating for success. They hope to do this through
- more focused leadership development,
- robust change management and organizational development, and
- improved employee experiences.
More companies will partner with E-learning service providers to achieve this in 2023. But what benefits do LMS and E-learning solutions offer which make them so integral to the future of employee development and engagement?
3 Major Ways E-Learning Will Boost Profits and Revolutionize Your Business
E-Learning Helps Employees Acquire the Most Current Job Market Skills
E-learning helps employees engage their mind and their senses. It offers them an opportunity to sharpen rusted skills and to learn new ones.
Studies show that the average lifespan of a skill is 5 years. Plus, each year, the competencies and skills needed by employees for a particular job increase by 10%.
E-learning solutions can make available the most current tools and assessments employers need to help train their employees correctly.
When your workforce is skilled in the correct skill sets, it automatically improves their job performance. Even if employees are on Performance Improvement Programs, you will be better equipped to give them the right training for the future.
E-Learning Keeps Employees Tech-Savvy and The Company Tech-Driven
Industry 4.0 is upon us. E-learning can help companies equip themselves with the technological skills and agility necessary to respond to the changing industry landscape.
Most e-learning systems support multi-type content playlists, from static text to AR/VR experiences. Companies can create job-specific simulations that allow teams to learn how to be more effective, productive, and successful on the job. They can test knowledge gained through training using a variety of engaging formats, from multiple-choice quizzes to interactive puzzles.
Apart from this, e-learning technology can help businesses get to market faster. E-learning solutions can support teams in product development and quality analysis by providing the most conducive platform to test their offerings.
For example, the same AR/VR simulations can be used by employees to try out newly released product features or experiment with workplace tools. This can help them make quick design and functionality decisions and reach customers faster than competitors.
What makes the LMS software all the more powerful is that they are often cloud-based. Now, training module creators can collaborate more easily on the cloud.
Plus, they can quickly share updated content with the audience as their needs change over time.
In fact, Deloitte research shows that SMEs and start-ups that use cloud-based technology (such as LMS) can grow 26% faster and experience about a 21% increase in profits.
E-Learning Can Improve Training Effectiveness While Reducing Company Errors and Mistakes
Speaking of technology, these tech-centric e-learning solutions can help high-risk industries by giving their employees intensive scenario-based training.
Take industries like safety/security services, chemical formulation, or oil & gas. By working with a multitude of AI-generated scenarios and AR/VR-enabled experiences, teams can learn the exact procedures and processes to follow when dealing with various situations in real-time.
This can save companies from making expensive mistakes resulting from regulatory non-conformance, safety issues, and legal battles.
Additionally, through e-learning, employees can stay abreast with industry changes and developments. They can also become cognizant of how their company is currently responding – and how they should respond – to these changes.
Poll/quiz-based or case-study-centric self-paced training modules can be particularly powerful in these situations. This, too, can help the organization work smart and avoid errors.
Finally, e-learning solutions can play a pivotal role in meeting compliance requirements. This could be in the form of helping employees learn about important operations regulations (such as GDPR) or workplace protections (such as Sexual harassment protection rights).
Since non-compliance with any local or international regulations can result in millions of dollars worth of damages, not to mention the financial loss incurred due to loss of customer patronage, timely e-learning can prevent major problems.
Choosing the Right E-Learning Service Providers Can Make a Profound Difference for Your Company
The right e-learning service provider can give you the technology and support you need to create and administer various e-learning programs.
We at Hurix have almost 20 years of experience as a leading e-learning service provider. Our expertise in working with companies across industries and at different growth stages has enabled us to empower you with the most responsive and user-friendly content distribution system.
We have designed a robust cloud-based learning management system that is extremely flexible and suitable for diverse training needs. Through the Hurix platform, you can
- create multi-type content and store it securely in an encrypted format,
- provide material to authorized audiences through identity-based access,
- use smart technology to recommend the most relevant training modules for self-directed learning,
- retain complete IPR over your created content for years to come, and
- offer training on desktops, laptops, and mobile for easy consumption.
With all these features, you can supercharge your business easily. Try out today!
