Benjamin Franklin once said, “An investment in knowledge pays the best interest.” Like Benjamin Franklin, many organizations appreciate the value of employees constantly becoming more knowledgeable; that’s why they continue to contribute immensely to corporate training.
Corporate training brings many benefits for the company and its employees: from increased productivity and performance to better decision-making, improved company reputation to increased revenue 一 the list is endless. Even though corporate education is becoming an absolute must for corporations nowadays, many companies are still unsure about the possible use cases that training technology solutions possess. Let’s have a closer look at the most common ones.
Corporate Learning Use Cases
“Meet by onboarding, see off by mind.”
Whether it's banking or healthcare, the onboarding process is the visiting card of any company and directly influences the company’s performance. To prove it, let’s turn to some statistics. As Forbes reports, companies experience a 50% failure rate in retaining hires if the onboarding is terrible. According to SHRM, 69% of employees are more likely to stay with a company after a great onboarding experience. Still, 88% of organizations don’t onboard well.
Indeed, because of unfamiliar cultures and processes, the new hires may face emotional and professional challenges, affecting the company's first impression. But how to facilitate onboarding and successfully welcome new employees? A corporate training system can help you with this. Such systems coordinate the onboarding process of new employees while simplifying the administrative work. They usually contain a knowledge base where new hires can access training videos and guides that can help them get started in the company.
Product and Service Training
To effectively communicate with customers about the product’s features and benefits, your employees should completely understand the product your company offers. Statistics show that sales associates with comprehensive solid product and service knowledge sell 123% more than colleagues without it. Moreover, 73% of customers expect product knowledge to be a must-have skill from a salesperson.
The greatest strategy to boost product and service proficiency is introducing a training system. A special corporate training system can provide sales assistants with in-depth knowledge about all company’s offerings, making it easier for them to look for a reliable source of information.
Today, the success of a business largely depends on the opportunities for employee development and training. LinkedIn survey shows that 94% of employees would stay in a company longer if it invested in their learning and development. Moreover, companies that pay significant attention to staff development are four times more profitable than those that don’t.
Online training is an excellent tool since it allows for ongoing and engaging training while also providing social benefits. For example, a world-famous technology company Google introduced Googler-to-Googler, a talent development program for creating a culture that places a high value on learning. The program focuses on employee-to-employee interaction, and up to 80% of all learning activities are delivered this way.
Regardless of the industry you operate in, you should first ensure that your employees are educated on the laws and policies that apply to their everyday work. Proper compliance promotes an inclusive and safe workplace, helps avoid penalties, strengthens your brand, and boosts the company’s reputation. However, many employees found it daunting and tedious to spend hours covering all laws and regulations.
Fortunately, with online training solutions, you can help your employees stay up to date with new and current compliance regulations while keeping the learning process exciting and entertaining.
E-Learning Tools For Creating Effective Corporate Training
The rise of e-Learning has made corporate training more interactive and simple. Let's have a look at e-learning tools and systems that have proved to be the best means in the corporate sector.
Integration With Corporate Groupware Systems
Groupware is for you if you’re interested in employee development through better team collaboration and exchange of experience. Groupware is a suite of software tools specifically designed to be utilized by groups to enhance and promote teamwork. Such software usually includes the following essential functions: chat, video conferencing, calendar for appointment management, tasks, emails and project management, remote desktop modules, etc. By integrating LMS solutions into your corporate collaborative software, you can improve your team productivity by creating a single environment for work and learning.
Integrating Training Solutions Into Corporate HR Portals
Developing training software from scratch is not obligatory to streamline employee training. Suppose your company already has a corporate portal for employee management. In that case, you can enhance it by introducing corporate policies and guidelines, staff directories, or product and service libraries, which will significantly simplify compliance training.
The e-Learning market provides various solutions for online corporate training, all of which have specific functions and are designed for different purposes: Udemy, Docebo, Coursera, Canvas, Learnworlds, etc. Companies can analyze the features they are interested in and integrate your system with third-party solutions. Toyota, eBay, Scania, and other companies already collaborate with Coursera to help employees develop high-demand digital skills.
Leveraging Learning Management Systems
When it comes to learning management systems, there are numerous ready-made solutions in the market. Since implementing such solutions is cheaper than building a custom one, companies prefer ready-made software.
Still, ready-made products sometimes don’t include all the features you may be looking for, you can develop a custom LMS. In this case, it is you who decide what needs your platform will meet and what type of training it will offer. Creating an LMS from scratch can be more expensive, but at the same time, you know for sure that your system will include all the necessary functions and an appropriate knowledge base. And by developing a mobile LMS as an addition to a web or desktop platform, you will allow employees to learn anytime and anywhere, improve user experience, and increase training efficiency. However, there’s no correct option — ready-made or custom — that’s why you need to analyze your business needs first.
Implementing AR/VR and AI for Immersive Learning
AR/VR and AI have become popular product and service training tools. Such tools can simulate real-life and high-risk work situations. VR allows trainees to learn what to do in a challenging situation without putting anyone’s lives or health in danger for jobs where safety is a significant concern.
Thus, Boeing uses Mixed Reality headsets to safely train space crew for all aspects of their mission. With AR/XR-based simulators, astronauts can read the mission-critical data in the immersive training environment. Another example is Hololense 2 by Microsoft. The solution allows creating guides with ready-to-use holograms for training new employees and maintaining complex equipment. This MR-based solution helps to save up to $3,500 on training trips, reduce training time by 75%, and increase revenue by up to 5% with.
If you want to facilitate corporate training program in your organization but don’t know how to start, delegate this task to a reliable technology partner. Emerline is ready to develop e-Learning software, enhance the existing e-Learning platform, or integrate your platform with third-party systems. Ready to boost your corporate learning? Contact our experts and receive a free consultation on an optimal strategy!