If your business is growing and hiring new people, you want to be able to add those people to your workforce as quickly as possible so they can do what you hired them to do: contribute to your business and help it continue to grow.
Whether you own a manufacturing company or a family entertainment center, safety for your employees should be at the top of your priorities. On-the-job training is a vital step toward employee safety, but how can you make sure your employees are going to remember the safety guidelines you give them?
As we wrote previously on our blog, online training videos make learning easy, with training that is accessible and easily reinforced through repeated viewings.
In that post, we also alluded to the financial benefits of enabling your employees to learn on their own time. Now, we’re going to talk about more financial benefits businesses can reap by investing in e-learning software.
When corporations replace instructor-based training with e-learning, the savings can reach incredible levels, often higher than 50% and even reaching as high as 70%. Over the course of just three years, one study found a return on investment of nearly $14 million per year.
How is this possible? Here’s how:
Your employees don’t have to travel.
Sending an employee or group of employees to an educational conference costs your business money – a lot of money. According to one case study: “After finding that up to 40% of its classroom training costs were spent on travel and lodging, IBM moved half of its training programs to an e-learning format. Over the first two years of the program alone, the company saved $579 million.” As it turns out, our CEO here at LearningZen was even personally involved in IBM’s new rollout at that time!
Even if your business doesn’t cover the actual travel expenses, the absence of the employee(s) while they’re traveling will decrease your revenue. Online videos allow employees to learn in short sessions over several days, meaning no time away from the office.
Savings increase if your franchise has many locations.
Implementing e-learning to replace face-to-face-learning or complement other instructor-led training in the form of blended learning is a profitable decision. More locations mean more travel if you use face-to-face learning, so the more costs you reduce, the more money you save.
E-learning can also attract and help customers, partners, and other business connections.
Customers who need specific information and channel partners who sell your company’s product are just two kinds of people associated with your business who can utilize e-learning software. For example, you can give your customers a step-by-step demonstration of how to install your product, or make a video that explains a financial plan with the help of visual aids like charts and graphics. When you impress these first-time customers, they’re more likely to become loyal return customers, and you’ll add to your revenue.
The possibilities, and the savings, are practically endless.
As an investment, e-learning is a win-win for franchises and businesses; your employees will learn faster and retain the information, your customers will appreciate the convenience you offer them, and your business will save money and increase revenue.
And while we’re on the subject of videos, here’s a video about the benefits of using videos in training:
Unlock profits for your business through e-learning by contacting LearningZen today!
Human beings have always been highly visual, and especially so today. According to surveys done of today’s employees, 75% of workers are more likely to watch a video than to read an email or web article, and three out of five young business executives say that they will rely more heavily on business-class video during the next 5-10 years.
What does this all mean in terms of employee training? Quite a lot. As a young generation begins entering the workforce and rising up the ladder, a more visual approach to learning is going to be inevitable — and meeting the change head-on will be essential to doing successful business.
To meet the needs of Generation Y, an easy to use learning management system for company training will be key. Check out these reasons why, courtesy of LearningZen.
Consistent, Accessible Training
An easy to use LMS will give you the ability to provide training to all of your employees without having to make recourse to specialized materials. Employees with impaired hearing, for instance, will have smooth access to the learning material. Likewise, if you have employees across multiple countries or continents, an online training system will give you the ability to do safety training and other learning in various languages and spare you the task of translating.
Refresher Courses Anytime, Anywhere
By having your training material in video format, your employees will be able to review their learning whenever they need, creating a significant advantage over live training alone.
Giving your employees the chance to learn and review on their own time also opens the opportunity for considerable cost-savings. Microsoft, for example, went from spending $320/person for training costs to just $17 by switching to video training.
The Proven Results of Online Video
The superior results of visually-oriented learning are born out by scientific studies. In what is called the Picture Superiority Effect, studies have demonstrated that only 10% of information learned from reading is retained by the trainee after three days. In contrast, workers are found to remember 65% of the information when it is presented through a visual medium such as image or video.
To learn more about what LearningZen can do for your business, don’t hesitate to call our sales team today at (866) 606-7505.
LearningZen offers a simple to use training platform with you in mind, giving your restaurant the online training software you need to train, retrain, and cross-train your staff successfully. (more…)