Online training has become incredibly popular in the last 3 years. COVID-19 drastically reduced in person contact, this necessitated the rise of online or virtual training as companies primary training resource making it it easy and practical for employees. We had reviewed the pros and cons of this new way of working.
Benefits of online training:
1. Convenience: Online training can be accessed from anywhere with an internet connection, allowing employees to complete training at their own pace and on their own schedule.
2. Cost-effectiveness: This is often more cost-effective than in-person training, as it eliminates the need for travel and can be deployed to a multitude of staff without having recourse to a specialist and booking a room for an hour or more.
3. Flexibility: Online training allows employees to fit their training into their busy schedules and take breaks as needed. It removes the need for staff to be ‘blocked’ for something, lets be frank, they do not always treat as a priority. Flexibility increases the ‘buy in’ from staff. It also allows them to pause and rewind course materials as needed, which can be helpful for those who need to review particular concepts.
4. Engaging: It can be interactive and engaging, by using videos, animations, and simulations to enhance the learning experience.
5. Tracking and assessment: Online training often includes tracking and assessment tools that allow the monitoring of employees’ progress. This has the added benefit of tracking training which is a must for any compliance performance indicator.
6. Chasing: the beauty of good software is that it sets and chases staff with regards to training saving hours of operational work and often proving more effective, since it has no problem being overwhelmed or forgetful.
Some downsides:
1. Focus: Certain persons prefer to be in a room and have their attention focused on the training. A room with a specialist can get better results.
2. Internet access: Many individuals especially staff they may be on the move often would prefer tools that download the training so that it can be accessed easily from a plane or when there is no good internet access.
3. Testing: Traditional training sessions with a specialist have not tended to seek to measure a staff’s understanding. With the advance or remote working, to ensure staff attendance and focus, it is common and recommended to test knowledge. This has the additional benefit of proving to a controlling authority that training is done. However some persons do not like to be so ‘tested’ as it can be intrusive and hurtful if the results of the test are not positive.
Some stats1
- ‘…42% of businesses claim online learning has improved revenue’
- ‘Companies achieved about 18% employee engagement by adopting eLearning technologies.’
- ‘Online courses can be finished nearly 60% faster than in-person lessons’
Regulatory Compliance Training
At Leo we understand that ensuring firms have the correct knowledge and expertise to remain compliant with Regulatory obligations is extremely important. We consider that Online Training eases the burden of having to chase staff, review countless documents, and take time away from other duties which may be more revenue producing. Thus we encourage online training and monitoring bringing together know how and tech to give a comfortable and rewarding experience to staff and management.
How does it work?
Leo’s Online Training Solution provides over 150 CPD-accredited courses on one easy-to-use platform. Our courses are updated frequently to provide up to date content. We assist management and staff with automated reminder emails, and through tailored management access permissions we help companies track assignments, progress, deadlines, assessment scores, and more. We provide results and savings as our costs are always matched to the market, to ensure the most engagement and upskilling for our industry.
If you want to know more click on the link below.
1Statistics provided by elearningindustry.com
