Employee training is essential for small businesses as it can lead to increased productivity, better customer service, and improved employee satisfaction. Here are some reasons why employee training is important for small businesses:
Increased Productivity
Proper training can help employees develop the necessary skills and knowledge to perform their jobs effectively and efficiently. This can lead to increased productivity, which can positively impact the business's bottom line.
Improved Customer Service
Employees who are well-trained can provide better customer service, which can lead to increased customer loyalty and repeat business. This is especially important for small businesses that rely on word-of-mouth marketing and repeat customers.
Enhanced Employee Satisfaction
Providing training opportunities to employees can demonstrate a commitment to their professional development, which can increase job satisfaction and reduce turnover rates. This can also help attract and retain top talent, which is crucial for small businesses.
Compliance with Regulations
Depending on the industry, small businesses may be required to comply with various regulations and standards. Proper training can ensure that employees understand and comply with these regulations, which can reduce the risk of penalties or fines.
The Growth in eLearning for Employee Training
Here are some eLearning growth statistics for corporate training:
According to a report by Global Market Insights, the global corporate eLearning market size is expected to reach $300 billion by 2025, growing at a CAGR of over 8% from 2019 to 2025.
A report by Technavio predicts that the global eLearning market in the corporate sector will grow by $38.09 billion during 2021-2025, with a CAGR of over 14%.
In a survey conducted by eLearning Industry, 77% of US companies reported using eLearning to train their employees.
According to a report by LinkedIn Learning, 58% of L&D professionals stated that eLearning is more effective than traditional classroom training.
In a survey by Brandon Hall Group, 72% of organizations reported that eLearning has improved their learning and development programs' effectiveness.
The Benefits of an eLearning-Based Approach to Employee Training
The shift to eLearning in employee training has become increasingly popular in recent years. Here are some reasons why:
Accessibility
eLearning allows employees to access training materials anytime and anywhere, as long as they have an internet connection. This is especially beneficial for remote workers or employees who work outside of traditional office hours.
Cost-effective
eLearning eliminates the need for traditional classroom-based training, which can be expensive due to the costs associated with travel, accommodation, and hiring trainers. With eLearning, businesses can save money on training costs, as they only need to pay for the development and delivery of the training materials.
Scalability
eLearning can easily be scaled to accommodate a growing workforce, without the need to hire additional trainers or invest in more training facilities.
Flexibility
eLearning allows employees to learn at their own pace and on their own schedule, which can be more convenient for busy employees who have other work or personal commitments.
Customization
eLearning allows businesses to tailor training materials to meet the specific needs and requirements of their employees, which can lead to more effective training outcomes.
How Small Businesses Use eLearning to Create a Culture of Continuous Learning
Small businesses can use eLearning to create a culture of continuous learning by incorporating the following strategies:
Develop a comprehensive eLearning program: A well-designed eLearning program can provide employees with a variety of training materials, including videos, interactive quizzes, and online resources, that cover a range of topics related to the business. This can help employees to continuously learn and develop new skills and knowledge.
Encourage employees to take ownership of their learning: Empower employees to take control of their learning by providing them with opportunities to set their learning goals and create personalized learning plans.
Provide regular feedback and coaching: Regular feedback and coaching can help employees to stay motivated and engaged with their learning. This can be achieved through regular check-ins, performance evaluations, and feedback on completed training courses.
Recognize and reward learning achievements: Acknowledging and rewarding employees for their learning achievements can help to create a positive learning culture and motivate employees to continue learning.
Foster a culture of collaboration: Encourage employees to collaborate and share their knowledge and expertise with one another. This can be achieved through online discussion forums, team-based projects, and peer-to-peer feedback.
Make eLearning accessible and easy to use: Ensure that eLearning materials are easily accessible and user-friendly, with clear instructions and support available to employees who need assistance.
About LMS Portals
At LMS Portals, we provide our clients and partners with a SaaS-based, multi-tenant learning management system that allows you to launch a dedicated training environment (a portal) for each of your unique audiences.
The system includes built-in, SCORM-compliant course authoring software that enables most anyone to build engaging courses quickly and easily.
We also offer a complete library of ready-made courses, covering most every aspect of corporate training and employee development.
If you choose to, you can create Learning Paths to deliver courses in a logical progression and add structure to your training program. The system also supports Virtual Instructor-Led Training (VILT) and provides tools for social learning.
Together, these features make the LMS Portals platform the ideal solution for eLearning-based employee training for small businesses.
Contact us today to get started or visit our Partner Program pages