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