E-learning and training is the new norm. Different organizations and industries are now using E-learning in a wide variety of contexts as it can contribute to the sustained success of an organization. In the business environment, E-learning refers to the strategies that use a company’s network to deliver training courses to employees. E-learning has become an integral part of what companies use to enhance operational efficiency—previously, eLearning was primarily thought of as something that only “big companies” do, due to the initial high cost involved in setting up an E-learning program. However, E-learning is getting less expensive with each passing day and that companies of all sizes and from different industries are becoming aware of the economic benefits, including the fact that E-learning provides such an ROI that it practically pays for itself in a few years has resulted in a paradigm shift—E-learning is a competitive advantage. In this article, we will discuss 10 key economic benefits for the company and employees.
Economic Benefits for the Company
- Cost effective: E-learning reduces or eliminates costs associated with traditional learning such as transport costs, parking or fuel, accommodation, food, and childcare. Time is also saved from commuting to a campus to attend lectures and workshops.
- Provides employees with ongoing access to key resources: E-learning can be accessed 24/7 and gives employees the chance to access important information whenever they need it.
- Flexibility: Fits your employee’s flexible lifestyles, E-learning can be completed anywhere and time with a computer or device.
- Enhance performance and productivity: Staff members who are better trained, more knowledgeable about products and services, and have acquired the knowledge they need to support their co-workers are more efficient and will even help to improve the organizations operational, dynamic and information efficiency.
- Competitive edge in the market: By investing in E-learning employees gain new knowledge and develop skills and stay current with industry standards, trends and changes, allowing the organization to stay ahead of the competition.
- Enhance organizational knowledge through boosting retention of content: E-Learning is simply a more efficient way to train employees on certain topics and enhance organizational knowledge. With attractive images, gamification, videos, legible fonts, movie clips, animated descriptions and other interactive content—including interactive real-life examples to better explain concepts. E-Learning enhances learning more than simply taking notes with pen and paper can and greatly increase your employee’s engagement and retention of key information.
- Less impact on environment: E-learning is paperless as the learning programs consume less power and generates less CO2 emissions as compared to traditional campus-based educational courses.
Economic Benefits for the Employee
- Self-driven and self-paced at a convenient time and place: E-learning puts individuals in control and enables them to learn at their own pace that is convenient to them, with the option to speed up, slow down or go back over material as many times as needed.
- Career Advancement: E-learning allows employees to upskill while maintaining a full-time job and family commitments—being able to advance your career without too much disruption in your daily schedule is one of the top benefits of E-learning as well as gaining new knowledge and skills that enable you to climb the corporate ladder within your current organization.
- The ability to study on one’s own schedule: Available 24/7, employees learn at their own pace and convenience. Perfect for busy individuals who would like to tailor their training schedule to their timetable.
E-learning is an important approach to formal and informal learning in the workplace and facilitates self-directed lifelong learning. The advantages associated with E-learning are vast and varied across all spectrums and breaks the traditional aspects of geographical, cultural, managerial, and organizational structures in training and developments. E-learning supports organizational learning and knowledge asset management and clearly highlights that there is a need to for organizations to invest in E-learning for employees.
Sentinel | 9
At Sentinel|9, we are committed to providing the latest industry-leading E-learning business resources that are industry relevant and that meets the growing demand of the next generation of learners. Sentinel|9 modules are developed with consultation from industry experts, professorial, doctoral, and a postdoctoral in-house team of academics, so learning is of highest quality. Sentinel|9 high-quality modules:
- incorporate the latest ideas and debates from the literature to design course content and to enhance usability.
- are suitable for executives, managers, directors attempting to grow in their overall business perspective and/or entrepreneurs and business owners wanting to create a competitive advantage for their own business ventures.
- are designed for an optimal career and business impact, you will strengthen your knowledge of business theories and concepts while improving leadership, communication and team skills.
- and resources are a perfect fit for leaders within a business to sharpen up their business skills and learn about new best practices in the business world.
- will transform how you think about yourself, you will gain current knowledge, and the required skills to confidently analyse and synthesize information to make informed decisions and create innovative solutions to improve current business practices and be ready for success in any competitive field.
Recommended E-Learning Resources
TEDx Talks: E-Learning
- TEDxMunster|Re-inventing Education for the Digital Age|David Middelbeck
[dzs_video source=”https://www.youtube.com/watch?v=ArI6albrkuY” config=”skinauroradefault” autoplay=”off” cue=”off” loop=”off” type=”normal” responsive_ratio=”detect”]
- TEDxFlourCity|The Revolution of Self-Directed Learning|Sean Bengry https://www.youtube.com/watch?v=3L9qU7Y-oaA
- TEDxGlasgow|More Pedagogic Change in 10 years than last 1000|Donal Clark https://www.youtube.com/watch?v=dEJ_ATgrnnY
- Wang, M. (2018). E-learning in the workplace: a performance-oriented approach beyond technology. Springer.
- Costello, J. T., & McNaughton, R. B. (2016). Can Dynamic Capabilities be Developed Using Workplace E‐learning Processes? Knowledge and Process Management, 23(1), 73–87.
- Burns, T. (2005). E-Learning: The Future of Quality Training. Quality Progress, 38(2), 50–56.