The popularity of online training has been growing exponentially almost every year since 2005.  According to an Ambient Insight report, the independent e-learning products and services industry topped $7 billion in 2015. This rapid growth in online programs is expected to continue through the coming years, and your company needs to be a part of this movement.

This trend is based on the need companies have for well qualified professionals who possess a variety of skills. Many of the most qualified professionals in today’s workforce are in the Baby Boomer generation and they are in the process of retiring.  This is creating a talent gap for many companies that need to be filled.  Many critical training programs like sexual harassment and diversity training which have been developed in-house are enormous expenditures that can be reduced to relatively nominal costs if online training systems are substituted.

You can conduct long and costly talent recruitment searches, but more companies are utilizing online training courses to fill skill gaps.  These programs can be acquired with minimal cost and implemented very easily.  A few hours or days of intensive work, and an employee can be better equipped to deal with cross-cultural clients, regulatory agencies, or a complex new CRM system.  According to some industry analysts, the cost of e-learning is 70 percent less than that required for an in-house or classroom instruction program.

Failure to augment your workforce can leave you at a competitive disadvantage.  You don’t want to lose out on a major contract because your sales team had a poor grasp of a foreign language or lacked expertise in an IT discipline. With a relatively small investment, your employees can have all the skills needed to excel.

How Online Training Programs Benefit Your Company

Courses that can be purchased online and used by employees at their computer possess numerous important advantages.

• Ease of use – Online courses do not require a classroom or a live instructor.  There is no schedule that the student must meet, so your employees can utilize otherwise wasted down time to improve their skills.
• Cost effectiveness – Many online programs are available at minimal cost.  Although some require fees per use, many only require a one-time licensing fee for a business.
• Likelihood of use –There is no need to make time in one’s schedule during the evening or weekend.  Your employee doesn’t need to travel to a school for instruction, nor does he need to take time off from work
• Competiveness—Professionals who lack relevant skills are losing out on opportunities.  Online training helps shore up skill gaps and make businesses more competitive.

Drawbacks of Online Courses

Although there are quite a few benefits to online training, there are also some challenges to using them.

• No personal instruction – Unlike classroom instruction where a teacher is available to take questions, online courses may not have some available to answer questions.  Some courses do make available professionals who can field queries, but some delay may be involved.
• Questionable sources – Many newer programs may not be as effective because the developers are unknown or less informed, but user and critic reviews can help make choosing an effective course much easier.

There is no doubt that more companies are turning to online portals to provide valuable training and instruction to their workers.  The low costs and greater accessibility make them attractive, and their minor weaknesses can often be shored up with some thoughtful and easy remedies.  Online instruction has become the great equalizer, allowing almost any company’s workforce to acquire and develop the professional skills necessary to achieve success.

To find out how online training can benefit your organization, visit Coggno.com today.