Good training and elearning does more than simply upskill employees. When done right, it can help you meet and exceed business goals. It stands to reason that, if you’re looking to grow, development is a necessity. Elearning provides the opportunity for such development, giving all the tools needed to meet objectives. In fact, training and KPIs go hand in hand. Read on to discover the key ways elearning can influence your KPIs.
Business goals and training should be viewed in tandem. At all stages of the plan, you should be looking ahead at which specific goals the training will help you meet. This could mean addressing particular issues or satisfying the ambitions of your workforce.
Whether your KPIs relate to revenue, growth, or sustainability, corporate elearning initiatives can align directly with your targets. Training and development doesn’t have to be rigid – it can be flexible to the specific KPIs of your business.
Elearning remains one of the most effective training tools due to its unlimited reach. It’s a ‘low-cost, high-return’ solution that addresses skills and knowledge gaps across your organization. But how does elearning influence business KPIs? Let’s run through 5 of the ways it can help you hit your targets.
5 Ways e-Learning Can Influence Your Business KPIs
1. Increased Productivity And Proficiency
Any effective learning and development program should result in greater knowledge and proficiency across the board. Where elearning differs from traditional learning methods is its ability to scale. As everyone learns in different ways and at their own speed, elearning offers the platform for everyone across your organization to learn essential skills sustainably.
An example of applying effective L&D is Kingfisher Group, a leading home improvement retailer who are producing upward of 5 million hours of learning materials. This work has already resulted in an improved learner experience and heightened engagement. Moving away from dense, text-heavy content, toward engaging learning has aligned the workforce towards their KPIs, increasing productivity levels across the board.
The amount of materials that can be produced and accessed at any time helps to increase engagement, with the knock-on effect of improved proficiency and productivity. With less time spent in unengaging training, employees are able to be more productive and work towards KPIs more effectively.
2. Collaboration Opportunities
One of the main benefits of learning and development in organizations is its flexibility of deployment. Many companies are moving towards remote or hybrid working, employing workers from all four corners of the globe.
Online training allows consistency and collaboration – it’s more adaptable and conducive to the needs of remote workers. Elearning platforms allow organizations with remote workforces to collaborate on wider discussion and learning.
The scale of elearning content makes it particularly enticing for global workforces. It can create a personalized experience that gets in front of millions of learners in a way that face-to-face learning simply cannot.
3. Return On Investment
Elearning is an investment, not only for your learners, but for the future of your business. As with any investment, maximizing the return is essential.
Effective training leads to both short and long-term returns. In the short term, an uptick in knowledge and skills can see a sharp business-wide improvement. The long-term returns are perhaps even more enticing, with an overhaul of employee commitment and alignment with company values.
This investment can influence KPIs by strengthening your workforce. It can help to alter future projections by solidifying resources, and future-proofing the company with a far improved and aligned workforce. Likewise, the comparatively low cost of elearning makes the return even greater. Its remote nature also eliminates costs associated with physical training costs and materials, allowing your budget to go further.
It pays to shop around for your elearning programs too, as the global beauty brand Benefit found. Through devising shareable learning content which got in front of their global workforce, they received an estimated saving of 69% on the costs of an LMS. In their case, the investment paid dividends, returning a 145% increase in monthly visits. Getting effective training in place that works for your business is half of the battle.
4. Measurable Reports And Results
Knowing how to measure training success is key to drawing correlations between elearning and your KPIs. Essentially, if your investment in training isn’t positively impacting business goals, it may need to be reassessed.
Ineffective training can cause KPIs to fall by the wayside. When taken online, its effectiveness can be quantified through data. A much more time-consuming process when assessing physical learning, elearning platforms allow for reports to be pulled instantly. Data such as assessment grades, completion rates, and engagement can paint a clear picture of the impact elearning has had on business KPIs.
Similarly, this feature can save time when it comes to record-keeping and administration. A time-consuming tracking process can put some management off investing in training. With elearning, this is made incredibly easy. No more folders bursting at the seams with paper to contend with. Elearning streamlines the training process and allows greater focus on what matters – hitting those KPIs.
5. Encourages Innovation
Sometimes, all your business needs are fresh ideas. Training encourages critical thinking and empowers learners to raise their voices with confidence. This impacts KPIs by creating a culture of learning and open discussion.
If the flow of thoughts becomes stagnant, your KPIs can suffer. Expanding the pool of knowledge inspires innovative thought, giving employees the power to suggest new ways of driving toward KPIs.
Elearning From Elucidat
Wherever they may sit in the traditional company hierarchy, training provides the tools to unlock creativity, innovation, and confidence in their convictions. A workforce bursting with suggestions and creative thought can only be developed. Elearning offers the most efficient and effective way of harnessing this power for the overall benefit of business goals.
From onboarding support to interactive learning materials, our comprehensive and bespoke elearning platform is designed around the specific needs of your business. To find out how we can help you deliver high-quality elearning, book a personalized demo today.