How Virtual Training Impacts Engagement and Productivity
As companies invest more in training, it’s becoming increasingly important to measure and track their return on investment. We drew from our expansive data to better understand how organizations are proving the ROI of learning, and how learning impacts key business outcomes, like employee engagement and productivity, as well as tenure, retention, and reventure growth.
Employee Training Boosts Productivity
In our current fast-growing economy, businesses need to hire and scale quickly to stay competitive. Tackling employee productivity, particularly speeding up the time it takes for a new hire to become productive, is a key pain point for employers.
Studies have shown the average time it takes for an employee to become fully productive is around six months. How can you accelerate onboarding time?
The efficiency of personalized online training allows for faster onboarding than classroom instruction. At LightSpeed VT, we’ve found that offering Virtual Training as a resource during — or even prior to — onboarding can make a big difference, allowing businesses to turn new hires into productive employees in 67% less time than the average 6 months.
Ongoing Training Increases Engagement
Employees at high-engagement companies spend more time learning than people at low-engagement companies.
To create a learning culture, it’s essential to give employees time to focus on their development, so they can stay up-to-date with the latest technical and soft skills. But at the same time, they still need time to focus on the day-to-day duties and responsibilities their job demands.
For managers and leaders who are assigning learning, that means it’s important to find your employee’s sweet spot that allow them to engage without becoming overwhelmed.
There also appears to be a connection between the amount companies spend on learning and how engaged their employees are.
More high-engagement companies spent in the higher average price range of $2000–$2500 per employee annually on learning. 30% of high engagement companies spent an average of $2000+ per employee annually. In contrast, only 7% of low-engagement companies spent $2000+ per employee.
It’s clear organizations that care about their employees’ long-term growth and invest in learning & development enjoy a more engaged workforce.
Do you want to increase engagement and productivity? With LightSpeed VT, you can encourage new hires to start learning before they step in the door by sharing online courses with them. This can include both customized company-specific content as well as online courses taught by subject matter experts. So when new hires arrive on Day 1, they’re not rookies.
See how LightSpeed VT can help your organization boost productivity and onboard new hires more efficiently by calling 1-800-HEY-LSVT or scheduling a demo today!