Home » Business » Digital Transformation » The Benefits of an E-Learning Knowledge Platform
More than two-thirds (69%) of British employers are expressing growing concern about the ability to hire highly-skilled staff, according to the CBI. Josh Hardie, the CBI’s Deputy Direct General, said closing the skills gap has become a “top business priority.”
According to a government report, 12.6 million people in the UK lack even basic digital skills. And 5.8 million have never even used the internet, even once. And MPs are warning the UK is facing a ‘digital skills crisis’.
Since 2000, the global e-learning knowledge platform industry has grown by 900%. With more and more aspect of life moving online, it was only natural that knowledge platforms would become a bigger part of learning new skills.
But what are the corporate benefits of using an e-learning knowledge platform?
We left timetables behind at university and school. Knowledge platforms, because they are online, can be accessed anywhere at any time. It means that workers can learn and complete training at their own pace. Fast learners don’t have to wait for the ones who are taking longer to grasp things as they would in a traditional learning environment.
Because of the ease of access, training doesn’t necessarily have to impact workloads. Brandon Hall estimates e-learning knowledge platforms require 40-60% less of employees’ time than learning in a traditional classroom environment. Employees can choose when and where they use knowledge platforms, and for how long. They can tailor their schedule to make sure they complete their normal tasks and expand their skills without losing productivity or efficiency.
Workforce development and training in a traditional setting is often quite expensive. When you add everything together – commuting, renting training rooms and equipment, stationery and the trainer’s hourly rate – it does mount up.
In 2013, IBM published a report which claimed it had saved an estimated $200 million a year by switching its training and development to e-learning knowledge platforms.
E-learning knowledge platforms enhance the learning experience by encouraging collaboration between pupils. Employees can discuss thoughts, ideas and work together constructively in real-time.
Teams and individuals can work together to improve their knowledge and skills in a way they haven’t before. It not only makes for a more enjoyable learning experience, but it helps to encourage greater teamwork in the normal working environment. Both employee and employer benefit.
While e-learning helps businesses to save money on their training costs, knowledge platforms also help businesses to save and generate more money in other areas. One report estimates employees engaged in training using technology, including e-learning, generate 26% more revenue.
The Research Institute of America says e-learning knowledge platforms help to increase employee retention rates by 25-60%, whereas traditional training only boosts it by 8-10%. And that saves money, because the average cost of replacing a single employee is £30,000.
Knowledge platforms are a fast, flexible, cost-effective and mutually beneficial method of workforce development for both employees and employer. Workers benefit from a flexible method of learning to suit their requirements, while employers benefit from reduced costs and a more engaged team.