How Does Corporate eLearning Lead to Organizational Growth?
Staff training is an investment that enables business growth. Corporations that are slow to invest in training or eschew it altogether will fall behind the competition. Yet, business leaders often regard employee training only as an expense instead of as an investment in the growth of the company. Let’s look at how corporate eLearning, as part of corporate training, contributes to organizational growth.
1. It helps to attract top talent
When a business starts to grow, hiring top talent becomes very important. Why is hiring top talent important? A study of more than 600,000 researchers, entertainers, politicians, and athletes found that high performers are 400 percent more productive than average performers.
Top performers are people who look out for the next challenge. They are open to participating in training to further upskill themselves because they want to be in a position to compete for top positions. These people are attracted to companies that are known for putting a high premium on employee training. An organization that is known for its training opportunities is an attractive option for professionals who want to move up the corporate ladder.
2. It helps to keep existing top performers
Nowadays it’s a challenge for the vast majority of organizations to keep top talent. Millennials who make up 75% of the current workforce, are notorious for changing jobs frequently. According to Gallup, 21% of millennials say they’ve changed jobs within the past year and six out of 10 millennials are open to new job opportunities.
One way to keep this restless group employed at your company is to challenge them constantly so they don’t get bored. Companies must nurture their top talent otherwise they are bound to be lured to more progressive and forward-looking organizations.
3. It helps to upskill inexperienced employees
There are few things so frustrating as believing that you have found the perfect candidate for a position only to find out later that her MBA at a top university doesn’t translate into know-how in the workplace. The thing is, not to employ someone just because they lack work experience is also not the answer – it might just be a huge missed opportunity.
Besides, how many perfectly qualified people are there? Very few, if you consider how technological advancement is changing work and work requirements. Companies that want to compete in the marketplace have no choice but to offer training opportunities to job candidates. An added benefit for the company is that they can train these candidates from scratch to fit in with the existing corporate culture and way of doing things.
4. It helps a company to stay competitive
Employee training and development helps companies to stay relevant. Continued training and development create a corporate workforce that has the necessary knowledge and skills base to keep the company in a leading position in the marketplace.
5. It keeps employees engaged and loyal
The reality in the workplace is that the vast majority of employees are not engaged. In fact, 80% of employees never reach their full potential, and 4 out of every 10 employees feel disengaged at work. Well-designed training and development can counterbalance this sad state of affairs.
Companies that invest in training programs make employees feel that they are being invested in. This makes them feel valued and promotes loyalty. eLearning as part of corporate training and development is an investment in human capital that organizations in this day and age can only benefit from and can’t afford to ignore.