10 Important Facts about Learning and Compliance Software
Part of staying competitive as a service-based company is keeping up with employees’ training needs. In this digital age, that includes implementing online learning and compliance software, also called e-learning. E-learning’s popularity and proven effectiveness continues to grow, and below are ten of the most important reasons why.
- It’s Adaptable.
Any teacher will say that identifying the needs of a group of people and adapting training materials for each student is extremely difficult. Online learning and compliance software makes this task possible. The program adapts to employees’ learning needs and provides the resources needed to fill the knowledge gaps.
- It Engages Employees.
Gallup found that disengaged but talented employees are just as likely to leave as unhappy employees with performance issues. Training is a large part of a successful organization, and it is critical that its training be part of any employee-retention solution.
- It Improves Productivity.
Research shows that the use of mobile technology for employee learning improves productivity by 43%. And according to IBM, every $1 invested in e-learning results in $30 in increased productivity. Why? Because employees have more time and energy to do what matters most to a company’s bottomline.
- It Enhances Learning.
With online learning, especially when delivered in 20-minute modules, employees learn four times faster and retain 30% more of the information. This makes sense considering the fact that 89% of smartphone users download apps, half of which are educational.
- It Speaks Their Language.
Studies have shown that knowledge test scores improve as much as 50% when the training is delivered in the employee’s native language. While a talented instructor may speak multiple languages, he or she cannot teach a group of people in different languages simultaneously. Software, however, can deliver the same training in five or ten different languages at once.
- It Acclimates New Employees.
The decision to stay or leave a new employer is made within the first six months of employment, said an Aberdeen Group study. In fact, one-third of new hires do decide to leave, many of them citing ineffective training or on-boarding as the main reason.
- It Saves Time.
Not every type of training can be replaced with online learning and compliance software, but for the portions that are digitized, it returns 40-60% of employees’ time back to them. This extra time is especially important if employees are overworked (a common reason for employee turnover) or need to pay more attention to profit-generating activities.
- It Saves Money.
Not only does e-learning deliver five times the training in the same amount of time as traditional training, it also comes at one-third of the cost. Companies that switch to online learning and compliance software report savings of thousands and even millions of dollars overall.
- It’s Secure.
Although data breaches are constantly in the news, online learning and compliance software is very safe because it is equipped with the latest encryption technology. For added security, a company can add biometrics like facial recognition or fingerprint scanning.
- It’s Environmentally Friendly.
A British study found that online learning reduces the use of paper, the consumption of resources, and the need to travel. All of that translates into 90% less energy used and 85% fewer CO2 emissions – which are both great results for an organization with environmental values or goals.