How E-Learning Can Benefit Your Business

One challenge businesses face is how to keep their employees up to date on industry knowledge. This includes both training new team members and getting the latest information to your active, busy workforce. For many, e-learning creates a flexible, cost-effective solution. If you implement an e-learning program into your business, you can deliver the information your team needs in a way that they can absorb over time.

Flexible Options

The most immediate benefit to e-learning comes with time. Gathering everyone who needs to learn about a new technology or process often renders an entire department or function unproductive until you finish. You need them to learn, but the lost time can't help but deliver a blow to your work that day. Alternatively, doing so in waves, or repeating training for new employees, takes even more from your total workflow.

E-learning allows you to schedule training at times that work best for each individual. You don't have to fill a conference room to get the most value from a speaker's fees, and you don't have to run the training during normal work hours. It gives you a way to deliver knowledge to each person when he or she is available and able to absorb it.

Cost-Effective Education

Beyond the time you save through e-learning, you save money over live presentations as well. Part of this comes by gaining worker productivity, but you also have to worry about the cost of using a conference room, any fees for a speaker or expert presenter, and the costs of repeating the training sessions for new or out-of-town employees.

An e-learning program lets you purchase or prepare online training sessions and information that you can repeat multiple times. Depending on your vendor, this can include license fees, but even then you save significantly over live performances. You can give the training you need without watching the costs pile up and impact your profit margins.

Build Institutional Knowledge

Finally, live training sessions suffer from an inability to retrieve and reuse them. If you use e-learning, the knowledge you pass on is preserved in your archives, so you can retain it across any turnover you suffer or growth you achieve. A library of e-learning gives you a historical record of information, of past and present practices that benefit your organization well beyond the tenure of any single individual.

An e-learning program gives you solutions that help develop your team over time. Instead of stopping what you are doing and losing money to teach, you can plan and schedule times to build your knowledge base without losing productive work time. Any organization looking to preserve or grow its knowledge base can benefit. Make the investment and take the time to develop an e-learning program to help your team grow into the future of your company.

How E-Learning Can Benefit Your Business

About the Author

Allan Lacoste, EVP of Partnerships & Marketing

Allan is responsible for managing the overall growth of Nuvei’s North American sales and marketing teams. He is a 22-year fintech industry veteran who has owned and operated ISOs, as well as held leadership roles with Cardservice International, North American Bancard and Total Merchant Services.

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