Time To Outsource eLearning: Recognize Alert Signs
Successful organizations consider Learning and Development an important business policy. Globally, the expenditure on Learning and Development has been rising. Here are some statistics to highlight this fact.
As per a survey by Training magazine, U.S. training expenditures were $92.3 billion in 2020–21—a rise of 12% from the previous year. [1] According to a report by IndustryARC, the corporate training market is estimated to be $414 billion by 2026. [2] IndustryARC is a customer and supplier intelligence company.
An efficient training program helps to increase the profit margins and income per employee. It boosts employee engagement and retention rates. A rich talent pool is vital for a company to execute the tasks to achieve the set goals and to stay ahead of the competition. Moreover, it helps to narrow down the skills gap.
Companies resort to several measures to help their employees learn. These include sharing resources (training videos, PDFs, etc.), Instructor-Led Training (webinars, role-playing, lectures), and eLearning. Most of these training materials are sourced in-house. However, there is a point when there is a need to reach out to a third-party learning solution provider to support the companies in their L&D goals. But when should one outsource eLearning?
Here are some of the major signs that indicate the necessity to outsource eLearning.
Deepening Skills Gap
Companies might have invested resources in creating a learning ecosystem, yet they might struggle to find the requisite skillset to process the required tasks. Hiring is not always the answer to filling the skills gap. It is a known fact that, in several cases, skilling an existing employee is more economical than hiring a new employee. The existing employees have varied skills and can be trained to take up tasks in different departments, roles, or seniority.
The eLearning partner helps companies to analyze the skills gap and works closely with the Human Resources and L&D teams to map the required skill training for individual employees. The large skill-based course cluster and catalog of the eLearning service provider gives the companies ready-made yet customized solutions for reskilling and upskilling the workforce. Moreover, customized eLearning modules can be built to address the skills chasm.
High Employee Turnover
Employees stay longer in a company that helps them grow and learn. If, despite the L&D efforts, the organization witnesses high employee turnover, then it is a clear sign it should collaborate with an eLearning partner. Their expertise in eLearning strategies will help sculpt an engaging and impactful learning experience.
Narrow Bandwidth Of Versatile Expertise
Hundreds of roles and training needs require a rich repository of consultants and expertise. Most companies might not have that network bandwidth. The companies can tap into the spectrum of consultants of the eLearning partner. These consultants may include Subject Matter Experts (SMEs), instructional content designers, developers, graphic designers, technical experts, and others who can help strategize the eLearning delivery of the client company.
Technological Prowess
To create an engaging learning experience as well as a seamless and effective delivery of these modules, one requires the right technological support. Technology is evolving and continuously making an impact on the way people live, work, play, and learn.
Mobile learning, Learning Management Systems (LMSs), gamified learning, platform integration, apps, Artificial Intelligence (AI), Virtual Reality (VR) in the learning ecosystem, etc., are some of the coordinates in the technology domain for eLearning.
A company might neither be able to keep track of the latest learning technologies nor adopt all the right ones. When eLearning is outsourced, the partner maps the right technological requirement and suggests the best options for the given L&D goals.
Reduced Costs And Faster Turnaround Time
Increased training costs and delayed outputs are signs that indicate the need for eLearning outsourcing.
Organizations can expand their teams' skills and knowledge without bearing the permanent cost and overheads by collaborating with an eLearning partner. A dedicated team of eLearning partners can accelerate the turnaround rates of eLearning modules, memory boosters, webinars, and other milestones in the learning path.
Get diverse and vast SMEs, technological support, and learning strategies to create a learning experience that increases the talent pool of the organization, engages and retains employees, and boosts the ROI.
Scope Of eLearning Outsourcing
Companies across all industries can outsource eLearning for any upskilling, reskilling, and skilling requirements. Training can also be provided for new recruits' onboarding, compliance, ethics, explanation of the use of a product or service to stakeholders, partners and customers, or change management.
Companies that provide certified training programs to corporates or K-12 can partner with digital learning solution providers for the eLearning component.
Conclusion
Digital solution partners can create customized eLearning modules that can be delivered at the moment of need. This includes graphic design, Instructional Design, audio and video production, translation in multiple languages, authoring tools, and others.
We provide end-to-end execution of the complete Learning and Development cycle and learning consultation. You can choose customized eLearning solutions and even author your own courses on our learning platform, KREDO. You can also create your own courses from our new-age authoring tool, Prodient.
Contact me or leave a comment below to learn more about our services and how we can help you.
References:
[1] 2021 Training Industry Report
[2] Corporate Training Market Forecast (2023–2028)
