Behind every successful organization is a culture around training and developing the skills of their employees. This is because they understand that an empowered workforce underpins their business's growth, stability, and success. In short, training one's employees is the most effective way of building a highly skilled team that becomes the backbone of the business.
Read on to learn more about learning and development (L&D) and how it drives business success.
What is Employee Learning and Development?
L&D involves formal and informal training via structured learning courses delivered virtually to employees to boost their skills and enable them to adapt to ever-changing trends. These courses can take on any format, including group-oriented, 1-on-1, app-based, and interactive components.
The ultimate goal of corporate e-learning is to address the skill gaps of an organization's workforce hindering growth and success, which requires equipping them with the right skills that align with the business's goals and key performance indicators. And by using the right strategy, companies can use this streamlined learning method to ensure the high quality of their products and services and mitigate costly operational issues.
How L&D facilitates organizational growth and success
Now that we have established the importance of L&D, we go over the top reasons to invest in it more.
Boosts productivity levels
E-learning provides employees with continuous upskilling and learning opportunities where they can apply their newfound knowledge directly in their daily work. This approach translates to highly skilled and professional employees capable of quickly responding to challenges that may arise and adapting to changes in your organization and industry. Naturally, well-adjusted employees will reflect improved performance, but how does this translate to overall productivity?
The reason is that, unlike traditional courses, the materials used in corporate e-learning are tailor-made to specific organizational situations and thus equip employees with specialized knowledge instead of general information. Studies show a 55% improvement in teamwork and communication among organizations that invest in high-impact learning and development initiatives, which results in fewer errors, less conflict, and better output quality.
Overall, with the right corporate learning management system in Singapore, corporate e-learning can solve various operation issues and gradually improve employee productivity and performance.
Attracts and retains better talent
Every organizational leader is familiar with the difficulties in attracting and retaining talents who align with the company's expectations. Offering training opportunities is one of the best ways to build a positive reputation and attract the right people to your organization. Once they are on board, it becomes much easier to keep them around since they are confident that your organization is an excellent place for them to grow. This is backed by the hard numbers from LinkedIn’s 2018 Workforce Learning Report showing that as much as 93% of employees tend to stay longer in companies that invest in their workforce's career growth.
Increased employee engagement
Higher engagement is not just beneficial for the well-being of your employees. Investing in continuous e-learning also demonstrates that a company highly values its people, which is an effective way of raising and keeping workplace morale high.
The more valued employees feel, the greater their commitment to the company becomes, and these committed employees are much more driven to problem-solve, innovate, and give their all in their work. Furthermore, experienced and veteran employees are essentially vital resources for training and integrating new employees into the workplace.
Better time efficiency
Another key benefit of corporate e-learning is that it vastly improves time efficiency since virtual learning materials can be deployed much faster, allowing organizations to get started immediately. Moreover, corporate e-learning means reduced time away from work because employees no longer have to go elsewhere to attend training, eliminating wastage in travel time.
E-learning's flexibility also lets organizational leaders opt for more c
ompact learning modules or shorten training cycles when need be. The bottom line is that corporate e-learning is one of, if not the best, solution for ensuring employees continue sharpening their skills regardless of the organization's circumstances, be it when dealing with a major challenge or period of growth, without taking their time away from critical tasks.
Conclusion
Corporate e-learning brings many advantages that help organizations be one step closer towards their goals. From improving productivity and time efficiency to increasing employee engagement and retention, businesses that foster a high-impact learning culture are far more likely to perform better than those that do not. In the current landscape, it's essential to consider the broader implications of our rapidly evolving world, including challenges such as cybersecurity. As we navigate through the aftermath of Covid-19 and its effects on cybersecurity, making informed decisions for your organization's digital safety becomes even more crucial.
Seeing as there is much at stake, choosing the right learning experience platform LXP and maintaining quality and consistent content is vital to ensuring the success of your corporate e-learning program. If your organization is considering e-learning for employee L&D, Deep Identity can help take your talent development to the next level. Our Performance Workspace, powered by the next-generation FUSE Learning & Knowledge platform, is designed to keep your employees ahead of the pack and stay relevant. Supercharge your business performance with us today by requesting a demo or contacting us for more details.
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