We get it. It’s hard to justify spending money to invest in employee training. Why invest in a program when it’s hard to quantify the return on that investment—especially when it’s a program that will draw your employees away from their daily tasks?
The truth is, investing in employee training is an exercise in delayed gratification. Effective learning programs have the potential to pay back huge dividends: more engaged employees, higher job satisfaction, better employee retention, and minimized workplace disruptions, to name a few. This is especially true for digital learning programs—also known as eLearning or online training—which deliver information quickly an allow your employees to learn when it’s most convenient for them.
To put it in terms your senior management can get behind, you can think of effective online training as an investment in benefits that will accrue over time, not just an expense. Consider these four benefits of effective digital learning that might not factor into your ROI calculations.
1. Training builds confidence.
Well-trained employees add value to your organization through knowledge of its systems and capabilities, and through the development of new products and services. They approach their tasks with confidence and the understanding to get the job done right.
2. Effective learning boosts morale and lowers turnover.
Brilliant, dedicated workers are looking for jobs that encourage them to learn new skills and advance in their field. Good training fosters loyalty and commitment by giving your learners a strong sense of the vision and direction of your company. Plus, employees who know that your organization is invested in their personal growth are likely to stay longer and be more productive.
3. Access new information immediately, from anywhere.
Updates to company policies and procedures can be delivered much more quickly through digital learning platforms than with traditional printed materials, so employees are able to acquire new information almost immediately. A confident, informed workforce leads to improved customer satisfaction and all around better business practices. A good learning management system (LMS) can also give employees the ability to access this information whenever and wherever they need it.
4. Save on labor expenses.
When your team knows exactly what they need to do and the most efficient way to do it, they’re able to achieve the same level of productive output with less time and effort. That means more time and energy for other projects and for team bonding. Faster access to information through a good LMS leads to greater efficiency and fewer mistakes.
Even though some of these benefits of taking the step to invest in learning programs aren’t easily quantified in terms of cost-benefit analysis, they are real outcomes of effective training. We certainly think these qualities add up to a worthy investment.