21st century: the age of cut throat competition and a rat race for the top spot in the business world. Today when by the time one builds a company, there will be 20 more in the same area each as good as or even better than the next, and all of them eyeing for the top spot and highest revenues. Here comes a vital question. How can any particular corporation gain an edge over their competitors in this world of such cut throat competition? Well, the answer to that is learning.
We are obviously aware of the importance of learning and hence what better advantage can a professional have than to be well versed with the latest advances in his particular field or a thorough understanding of the changing aspect of his job and what it might expect from him.
Learning is a necessity and to keep it cost efficient for the corporation, e-learning has gained popularity where businesses can train employees and at the same time save the money required to hire a professional instructor. It also has the advantage of being conducted at the best time suited for all and not to mention the time saved in commuting.
A Brandon- Hall Study reported that e-learning typically requires 40% to 60% less time compared to traditional forms of learning and A Towards Maturity Report of 2012 stated that there was a 35% improvement in competency, 32% improvement in the ability to introduce new products and services , 26% overall cost saving.
Corporate executives are now starting to understand the importance of learning and that improving the skills of their employees is crucial for creating a sustainable advantage. Workers nowadays have a non-traditional approach to time and space, believing that as long as the job gets done on time, it is not important where or when it gets done. Now going with the same line, they also wish to devote some of their time to learning. This is where e-learning saves the day and gives employees just that opportunity.
But all this having been said, no one can undermine the benefits from an instructor-led training where the employees can clear doubts and raise the question in one to one encounters with the instructor.
One concept which has been on the rise for some time now is the blended training which is a combination of the traditional instructor-led training and the newly developed concept of e-learning. An example of such a model concept is the “Flex Model” in which the employees do much of the work through online training and an instructor is available (whether in person or online) to help support them throughout their efforts. The benefits of this model are that it allows the employee the flexibility to take the training in the office or perhaps even out of the office on a mobile device.
Another example is the “Flipped Classroom model” where the employee views information on their own time either in the form of an online course or video. Then classroom time is used to do any homework and to work through any difficulties with the instructor present. The benefits of this model are evident as the one to one time with the instructor is used more effectively to mentor and coach the employee, resulting in higher knowledge retention and better-trained staff.
It now goes without further lengthening of speech that training or learning is undeniably necessary for boosting of performance and better results for employees. Corporations cannot neglect this as training implies increasing human capital. The investment put into effective training will no doubt pay off in terms of higher profits and better more efficient service and product quality. To stay in business in this world where the motto is “Survival of the fittest”, corporations need to gain an upper hand which is practically impossible without further learning for its employees.