If you want to improve your business one of the first logical steps to consider is how to improve your workforce. On the job learning is becoming an ever more intrinsic part of having a successful business as happy and engaged employees equate to more productive employees.
In recent years on the job learning has become much more stream lined seeing employees being presented with bite sized modules which they can easily fit around their day to day tasks as opposed to the lengthy, linear courses of the past. Technology has advanced enough to allow businesses to use cloud based e-learning which is simple for employees to use, fun and engaging.
The business of e-learning itself is rapidly growing and it is estimated that it will be worth $31 billion by 2020. Employees are increasingly likely to expect on the job learning to be the norm when they start employment with over 58% of millennials expecting to receive learning which is relevant to their job. So how does tapping into this market help your business?
One of the challenges facing many businesses today is being able to find and subsequently retain suitable talent. Many employees will be more prepared to stay in a job long term if they can see benefits to them. For example, if an employee has the opportunity to engage in on the job training they will not only become better at the job they are currently doing but develop skills which will help them to move within the business, whether this is a change of job role or a promotion. Employees who feel they will be able to achieve personal and professional goals will have something to work towards and therefore will be more engaged and productive. Whereas employees who feel that they are stuck in their current role with no opportunity to grow are likely to put in less effort, make more mistakes and may even look for another job, none of which is good for your business.
Business leaders are increasingly recognizing the importance of on the job learning and this is reflected by a 10% increase from 2014 to 2015 in the number of CEOs who viewed skills availability as a concern as well as 84% of executives saying that learning is important. But it’s not just e-learning courses as you would traditionally think of it that can massively help your business. New technology is constantly being released and by learning about it you can understand how it’s possible to utilize the technology to improve your business. Gimmicky products such as a swimsuit filled with sun sensors contain technology that can easily be translated into a business setting by simply changing the data required. Once the correct data has been input the technology can then be used to help you optimize performance.
Learning is vital to the future of businesses and their workforce. By incorporating on the job learning and new technologies you can optimize performance and achieve a happier, more dedicated workforce. If you are interested taking a spin, try checking out few masterclass courses provided by SAP Varsity.