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e-learning

Fortune 500 companies and e-learning

In the era of technology advancements there aren’t many industries who haven’t made the leap forward to this new forefront. Some of the largest companies in the world have revamped all areas of operations from sales, hiring, payment checkouts, and invoice payments. Large fortune 500 companies are usually the first to adopt new technologies as they want a competitive advantage over the competition. One area where these companies have advanced to is the area of online training. Many of the future 500 companies are using e-learning to train their various employees, whether it be new hires, student hires, or re-training experienced hires.

As large enterprises adopt technology in their employee training, they are realizing the huge savings that comes from investing in such tools. In the beginning, when large companies decided to move to e-learning they focused on in house solutions. They built custom made training platforms that enabled them to train employees specific to their company. They soon found out that it was difficult to maintain and as these companies expanded to different industries, the needs of their online training software changed, and it was too expensive to retool their training software. As these companies grew in size and experienced first hand the positives and negatives of e-learning, they decided to outsource this type of training, in a similar way as when they outsource many of their efficient processes.

Using a 3rd party online training software, the fortune 500 companies realized they could expand their training much faster across all industries they had companies in since these platforms had a more general and adaptive interface and training system. As the IBIS Capital report shows, e-learning has become essential for a companies competitive advantage in the market place.

The return on investment in e-Learning

“As we live in a world of ever changing landscapes, we are in need to adapt to the marketplace.” Professor Mark Deliy from the University of Toronto discusses the need for efficient, precise learning platforms that focus on training their users quickly and efficiently. Some of the biggest problems, according to Deliy, in the business world is the number of inadequately trained employees. Lack of training can lead to low output yield and thus hurt the company financially. The companies brand can also be tarnished with lack of training.

Efficient training doesn’t have to be expensive

Many business owners think only large companies can move to online training systems. Many don’t realize that there are many learning management systems that offer very low cost solutions for online training. For as little as $50 per month, a company can build courses, create training material, and implement assessments in order to train employees. Not only is the monthly fee low cost but once the business has created these courses, they can expand on it and roll it out over the entire organization with relative ease. Companies that do this gain a competitive advantage in the marketplace with well trained teams.

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