ARTICLE

How Online Training Advertently Affect Employee Retention

02 September 2020

3 min read

In this aggressive competitive world, the act of training your employees not only conforms to their retention but also has a direct impact on the organization. Various industries might feel that a training process would not be relevant to their company and end up skipping the process. The repercussions of missing the training process would be affected in the long run.

Creating a learning environment irrespective of whether the employee is a graduate or an experienced one helps retain the said employee. These opportunities add more elements to the environment, giving the employees a sense of diversity and inclusion and encouragement to improve both their professional and personal development. Without an effective training system, the cost of replacing an employee will amount double the amount of their salary. Training existing employees reinforces their skills and also improves their performance and new responsibilities. So, it is good practice to train new and existing employees on the latest technologies and honing their skills affecting their performance.

Some of the areas, but not limited to, where organizations can take online learning to the next level are:

  • Sales and marketing
  • Finance and accounting
  • Human resource management
  • Skills and personal development
  • Customer service
  • Leadership and management

By employing online training to the above-specified areas, your organization could greatly benefit your value and increase the profit margins by a wide percent. A look into the online training and its effect on any industry,

Statistics pertaining to online training:

Productivity, the word that every organization abides by and would make any change to ensure its longevity among the employees. Training your employees would increase the chances of higher productivity, thereby increasing the company's profits. According to the Association for Talent Development, organizations that conduct extensive online training programs have 218% higher income per employee compared with companies who do not partake in training.

Another report by PwC indicates the cost of losing an employee in the initial year can be up to three times the person’s salary, leading to a loss of $63.3bn in the UK alone. The statistic mentioned above makes the employees’ retention more pertinent and lowers the cost of replacing the existing employees with new ones. A well-rounded onboarding program would solve any problems with taking up new skills or responsibilities.

Benefits of online training over traditional learning

An effective way to train new employees and set a career path

Employees have a trove of options they can pick from, and your organization should be able to make a good first impression both personally and careerwise. For new employees, the onboarding program will show them a glimpse into the organization’s future and their path towards achieving their own goals in your organization. This will ensure the employees’ enthusiasm and loyalty to your organization in the long run.

The traditional onboarding process can take anywhere from three to six months. This has proven to be both time-consuming and counterproductive to the employee. Online training eases the newcomers into their role through a streamlined onboarding program that contains the necessary compliance policies, employee information, and other instructions on the work process. A training process that supports the employee’s career progressiveness can help multitask rather than focus on a single work. The online training will allow you to customize road maps taking individual employee’s long term career goals.

Employee engagement and boosting morale

Employees can be engaged to be productive and work towards the organization's goals. Training employees and setting out career growth is imperative, and your employees would feel like a part of the valued team. The traditional setting would downplay employees’ engagement, creating a strict and rigid environment for the employees to grow and branch out. Increase your employee engagement and encourage them to work collaboratively with their peers on a common project. With open communication and team cohesion, your organization can increase employee retention and morale, thereby improving its overall success and profit.

Skill development on the point

Skill development has been around since the traditional training times, which, by the way, is not so ancient. It is necessary to train an employee with workplace skills. They are more likely to invest in an organization that qualifies them for the right skills and garners more challenging and varied opportunities tailor-made based on education and other factors. Online training can help them to learn workplace skills with adequate professional training and achieve peak performance.

Self-directed learning/on-site training

On-site training might seem a bit hard due to its long seminars, and employees may start to drift off to distant lands. You, as the organization, can make the training interesting by employing a feature-rich LMS that allows self-directed learning. Employees can create a customized learning path to learn concepts in their own time and pace. This is where gamification comes in and keep your employees engaged and improves their attention span.

Impeccable training leads to better retention

Companies that have an elaborate system of training have a higher retention rate of employees. Those who had undergone proper online training correspond to a varied skill set, workplace confidence, and unwavering loyalty to the organization. Employees can achieve targets and be more productive with increased satisfaction. All these can be boiled down to the seamless training that your organization can nurture the said employees’ skills.

Summing-Up

Employees should feel that they have a future and a great career path in your organization while having a better engagement, productivity, and morale. To make this happen, Novac Learning, a seasoned player in the field of learning and development, aims to develop an interactive L&D ecosystem ensuring the increase and seamless learner’s experience. Novac Learning not only increases the organization’s success or profits but improves the chances of employees to learn the right set of skills with our varied learning and development tools in place.


*statistics information referred from
https://www.shiftelearning.com/blog/statistics-value-of-employee-training-and-development

EXPLORE MORE THOUGHTS
RELATED TOPICS
TRENDING
Driving Down Customer Acquisition costs with High-Quality Digital CX

Subscribe to our Newsletter

Stay Connected to Know More About Our Thoughts