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The Internet has ushered in a new era of training. It's cheaper, more efficient and gives your organization a better shot at finding the employees that it needs.
Training is Virtually a Mouse Click Away
In today’s fast-paced, constantly changing business environment, small- and medium-sized businesses (SMBs) are increasingly relying on training to improve the respective skill sets of their employees. Online training also known as e-Learning has emerged as a business-critical tool to train employees and management quickly, efficiently, and conveniently.
Colleges and universities were the early adopters of e-Learning with the emergence of Internet-based courses. Then, fully accredited online universities such as University of Phoenix emerged and transformed the delivery of college curriculum. The popularity of e-Learning and online training is not surprising. SMBs are realizing that expanding employee skills through online training will only help improve productivity, reduce costs, and position them to keep pace with competition and customer demands.
As further reinforcement of the need for online training, Bersin & Associates, an organization with extensive experience in e-Learning, found in a recent report that corporate training budgets in the United States increased on average by seven percent in 2006 - the largest increase in five years.
According to the report, most corporations are investing more in training for three primary reasons:
• Economic growth in many regions is putting greater demands on training.
• Talent shortages are being felt in all industry sectors and across almost all geographies. Consequently, companies are putting more emphasis on hiring and training new personnel and on training current employees for new roles.
• Increased focus on talent management. Corporations are increasingly recognizing that learning and development is part of an integrated talent management process that includes recruiting, performance management, leadership development, and succession planning.
The rise of corporate online training has become a multibillion dollar business globally and continues to rapidly grow. According to recent IDC forecasts, the e-Learning market, which was about $7 billion in 2004, is likely to witness an exponential growth and touch the $28 billion mark by 2008. The global market for corporate e-Learning will grow nearly 30 percent compounded yearly over the next four years.
Employee Benefits
The flexibility of online training is very appealing to employees because they can take advantage of an array of coursework and curriculum – from training to refresher courses – all from the convenience of their home or office. Employees are more likely to gravitate towards courses which will increase their productivity and their skill sets, such as learning how to use the latest Microsoft Office productivity tools.
From an SMB perspective, online training is extremely attractive because it can be delivered very inexpensively via the Web. In fact, a few of the leading hosted human resource providers offer online training as part of their overall platform because it is a natural extension to payroll, benefits administration, and other employee self-service functionality. (See The Benefits of Online Training for more information.>
High Tech & High Touch
Technology savvy employees are outnumbering those comfortable with a typewriter and slide rule. Within the last several years, newly-minted graduates who have spent their formative and college years mastering computer skills are instrumental in driving the need for online training programs because technology has always been part of their life. However, with frequent technological advancements and updates, online training programs have become increasingly more user-friendly, thereby enabling mainstream use among employees regardless of age or technical skills.
From refresher courses to license renewals, the Internet serves as the ideal platform for employees and employers to mutually benefit from online training. Additional forms of online training can include certification classes and proficiency exams that can be monitored online. Sales representatives can receive training via virtual classrooms; there is no limit to the type of curriculum that can be delivered online.
Online Training Ideal for Part-Timers Too
In an environment with a mix of full-time and part-time employees, it is more convenient and cost-effective to offer online training. For example, New Jersey-based Parisi Sports Clubs, a fitness center operator of five facilities, has more part-time employees than full-timers. Using a Web-based HR system that processes their payroll, Parisi allows its employees to log-on to access a range of company materials. The online training capability was huge for Parisi Sports Clubs. After hiring an individual, it was expensive to have them physically come into the facility and conduct one-on-one training. The company provided its training online, giving part-timers, mostly comprised of college students, an opportunity to take advantage of virtual courses that could be scheduled at their convenience.
Online training benefits both management and employees. The cost-effectiveness and flexibility makes it easy for SMBs to offer various online tools to their staff. Building the skill sets of employees will only lead to a smarter workforce and more productive environment. Providing workers with the tools to better themselves will not only benefit the overall organization, but can also improve your company’s bottom-line.
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