As a learning and development manager, you know that training and development is essential to your company’s success. But, managing training and development can be a daunting task, especially when it comes to costs and efficiency. Fortunately, there are ways you can use new and existing technology to help reduce L&D costs and increase L&D efficiency. Here are 11 easy ways to use technology to get the most out of your L&D efforts:
Using an LMS like Access LMS, Blackboard, Canvas, and Moodle can help centralize and automate the delivery and tracking of training materials, resulting in a reduction of administrative costs and an increase in training efficiency. GE Healthcare is a great example of a company that uses an LMS to train their employees, resulting in a 50% reduction in L&D costs.
Microlearning modules are short, focused training sessions that can be completed quickly and efficiently. They are perfect for companies that need to reduce L&D costs during a recession because they enable employees to quickly adapt to changing roles and responsibilities. Utilizing microlearning through your LMS can help further reduce L&D costs.
Virtual and Augmented Reality platforms like Immersive VR Education, Engage, and Nearpod take training to a whole new level, allowing employees to learn and practice new skills in a virtual reality environment without the need for costly on-site training. A great example is how Walmart uses VR technology to train their employees in a cost-effective way.
Video conferencing and webinar tools like Zoom, GoToMeeting, and Webex allow you to conduct live, virtual training sessions and meetings. This can result in a reduction of travel and lodging costs. Cisco is a great example of a company that uses video conferencing and webinars to train their employees worldwide, resulting in an estimated annual cost savings of $30 million. Utilizing video conferencing and webinars not only reduces training costs but also allows for virtual networking and mentorship opportunities for employees, even when travel and in-person networking are limited.
E-Learning platforms like Bookboon Learning, Coursera, and Udemy provide self-paced, on-demand training for employees, eliminating the need for instructors and facilitators and resulting in a reduction of training costs. IBM is a great example of a company that uses an e-learning platform to train their employees, resulting in a 40% reduction in L&D costs.
For more ideas on improving learning engagement, have a look at our article on How to maximize employee engagement in L&D while minimizing costs.
Artificial Intelligence and Machine Learning can be used to personalize and automate training, resulting in cost savings and increased efficiency. IBM’s Watson is a great example of how AI and Machine Learning can be used to improve L&D efforts. You can also use AI and Machine Learning to create chatbots that give employees with quick and convenient access to training resources and support. This will help them stay engaged and motivated, even when traditional training opportunities are limited.
For more examples of how to use AI, make sure to check out our article on ChatGPT in Learning and Development: 10 Ways to Streamline Processes and Save Time.
Gamification tools like Gamebrain can increase engagement and motivation for employees during training. This leads to better retention of information and cost savings. Duolingo is a great example of how gamification can be used in L&D. For example, you can use gamification to create virtual competitions and challenges that encourage employees to practice and develop new skills in a fun and engaging way. Gamification is a cost-effective way to engage employees in learning on a tight budget.
Check out our free eBook on Designing Games for Learning for examples of simple learning games you can offer your employees.
Collecting and analyzing data on employee training can help identify areas for improvement. By using analytics tools, companies can track employee progress and adjust training programs as needed to reduce costs and increase efficiency.
Listen to our free podcast by the Head of Learning Measurement at Facebook for advice on how to use analytics to measure the ROI of learning.
Mobile learning allows employees to access training materials and complete courses on-the-go, resulting in cost savings and increased flexibility. For example, McDonald’s uses a mobile learning app to provide on-demand training for its employees and franchisees. This resulted in a 20% increase in employee engagement. You can use mobile learning apps to deliver training resources and support to employees in real-time. Even when they are not in the office. This ensures that your employees have access to training when and where they need it most.
Social learning platforms like Slack, Chatter, and Microsoft Teams help facilitate peer-to-peer learning and knowledge sharing. For example, you can use social learning platforms to create virtual communities where employees can share knowledge, collaborate, and support one another.
Automation tools like Zapier, IFTTT, and Workato save you time and money by streamlining administrative tasks such as scheduling, reporting, and tracking progress. Netflix is a great example of a company that uses automation tools to streamline their employee onboarding process. Netflix achieved a 50% reduction in administrative costs.
By using these 11 easy ways to use technology to reduce L&D costs and increase L&D efficiency, you can ensure that your employees have the skills and knowledge they need to excel while keeping costs under control.
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Learning and Development (L&D) professionals know that a solid L&D budget is essential for providing quality training and development opportunities for employees. But how do you make the case for more L&D funding within your organization?
Here are 11 easy ways to use technology to get the most out of your L&D efforts:
In this article, we will explore ten ways to use ChatGPT in Learning and Development. Discover how to improve processes, save time and money.