Invest in Corporate Learning Right Now – Top 5 Reasons Elearning

Table of Contents

Corporate learning rarely results in instantaneous financial results. A short-sighted approach, however, makes it more difficult for businesses to adapt to challenges.

The pandemic has hit businesses and the economy hard. In times of tightened belts and recessions, Learning will be amongst the first things that companies drop. On the face of it, it makes sense: Learning rarely results in instantaneous financial results. However, this short-sighted approach can make it more difficult for businesses to adapt to the current challenges and thrive quickly when growth conditions are favorable.

Right now is the time to invest in corporate and E-learning. Here’s why.

 

1. Employee Morale Needs Help

 

Employees, even those in secure jobs in secure industries, don’t exist in a vacuum. For a year now, they have taken in news headlines and been worried about factors as diverse as their health to ensure their children’s development isn’t hindered.

Right now, employees are working in an environment where the unemployment rate is the highest it’s been for years (6.5%), with predictions that it will continue rising yet, culminating in 2.2 million unemployed by the end of 2021. GDP shrank by 9.9% in 2020, the worst we’ve seen since 1709. At the end of January 2021, 4.7 million workers were on furlough.

It would be naïve to assume that employee morale is currently robust, even if the obvious signs don’t show as much of your workforce is stuck at home.

How does learning help? Showing your employees that you are still investing in their Learning and development boosts morale by demonstrating your commitment to them. This bolsters employee satisfaction and aids engagement. While bonuses and pay rises may be impossible right now, learning can be low cost.

 

2. You’ll Be Ready to Succeed

 

Downturns, even those spurred by pandemics, don’t last forever. There are clear signs that the end is in sight, and many economists predict a V-shaped recession. This means that while the downturn was marked and swift, the recovery will be equally fast too. It would be best if you were ready to take advantage of this as soon as possible, as it will likely be your most significant opportunity for competitive advantage against those who aren’t prepared.

How does corporate learning help? Competitors will be cutting Learning, so this is your chance to pull away from the crowd with greater skills and efficiencies gained through Learning. With an investment in Learning now, you’ll be ready to take advantage of the upturn.

 

3. Talent as You Need It

 

Whether you’ve lost talent through cuts, through natural attrition, or fear-filled employees jumping ship, businesses are constantly being depleted of talent during hard times unless it is actively being grown.

How does corporate learning help? Learning enables you to hold onto the talent you want to retain and upskill talent to replace those you’ve lost. You need to invest in Learning so that your remaining employees are knowledgeable and skilled and can carry the load of lost talent. Investing in Learning is cheaper than recruiting new talent, and that’s before you consider the time it takes to get recruits up to speed.

 

4. Now’s the Time to Innovate in Business

 

The businesses that are not just surviving the current downturn but are actively doing well have embraced the challenge of the pandemic and smashed down the box. Their out-of-the-box thinking has enabled some businesses to innovate and use the current obstacles as opportunities for success.

How does corporate learning help? Learning inspires innovation. Directed appropriately, it encourages managers to inspire through leadership and encourage creative thinking. Fresh ideas and new approaches spurred on by training and development are desperately needed right now.

 

5. Learning is More Cost-Effective Than Ever

 

With downward pressure on learning and development delivery, because most struggling companies will cut it as a priority, there are excellent learning opportunities to be had at a low cost at the moment. Training suppliers deliver exceptional courses at a fraction of their usual price, primarily where they were once offered in person and are now being delivered online.

How does corporate learning help? Now is the time for businesses to snap up great deals on courses that can be delivered remotely. Upskill your workforce for a fraction of the usual cost but reap the same rewards.

 

Invest in Learning with Intention with Bridge LMS

 

Choose to invest in-applicable, cost-effective Learning for your workforce right now and see them engage and innovate, giving your business the resilience to come through the current downturn.

 

 

 

Get a Free Bridge Demo >>

More Blog Posts >>

Akash Savdharia

Akash Savdharia

Akash is an entrepreneurial technology executive with over 10 years of experience bringing SaaS products to market that solve impactful data-driven problems. Prior to joining Bridge, Akash was the co-founder and CEO of Patheer, an AI-powered talent marketplace to help companies grow and retain employees by empowering them to discover new career paths and opportunities internally. At Patheer, he drove the company's vision, strategy, and products, which revolutionized the enterprise talent and career mobility space. In September 2020, Learning Technologies Group acquired Patheer to bolster its product and technology expertise in this fast growing market. At Bridge, Akash is the Vice President of Talent Solutions, and continues to drive the vision, growth, and strategy for skills and talent mobility.

Table of Contents

Latest Blog Posts
How to Develop a Skills Development Plan (And Why Managers Are Crucial to Success)
How to Develop a Skills Management Plan (And Why Managers Are Crucial to Success)
The 2020s have become the decade of employee development. That’s according to a report from the World...
Read more
HR Teams: Here’s How to Get Business-Wide Buy-In for Your Initiatives
HR Teams: Here’s How to Get Business-Wide Buy-In for Your Initiatives
Learn how to develop a strong business case for upskilling and reskilling while partnering with your...
Read more
Consolidating Your HR Tech Stack? Here Are 3 Pitfalls to Watch Out For
Consolidating Your HR Tech Stack? Here Are 3 Pitfalls to Watch Out For
By the time you’ve accounted for your learning management system, your performance management system,...
Read more

Scheduled a Time to Talk with our Experts

Fill out the form and a Product Expert will be in contact with you shortly.