Since World War II, the United States has gone an average of 58.4 months between recessions, or nearly five years. This statistic tell us that you'll face a few recessions during your career - how can you make sure you're prepared?
While eLearning is an effective model for online training regardless of the circumstances, it’s particularly well-suited to a tough economic environment. To better understand how eLearning will help cost-efficiency, we can look at situations where eLearning can help companies that are succeeding, as well as how it can help companies that are struggling.
Why eLearning is ideal if you need to train workers quickly
When the economy is heading towards an economic downturn, not every industry will face problems. Some, in fact, thrive due to increased demand for their products or services.
For an example, when Covid forced quarantines and lockdowns, grocery stores have never been busier. Stores saw worker shortages at both the front or back of the store, with higher demand for products and people they needed to hire (and therefore train).
This is the time that eLearning becomes imperative for these types of businesses. It can give them a versatile platform to train a high volume of workers on the various practices and procedures they’ll need to be onboarded quickly and modernly.
In times such as these, employers who need training have two options:
- Option one: Change nothing about your organization’s training
- Option two: Adapt and optimize training for a new world
Although training solutions may have an initial cost, the option to do nothing is not really an option, for any business that wants to stay afloat and productive during these tough times. No matter what industry you find yourself in, eLearning less of an option than a necessity now. Tap into eLearning to help make your company’s online training recession-resistant.
Why eLearning helps if your industry is struggling at the moment
Unfortunately, many businesses and companies hurt economically during an economic crash. While those businesses won’t necessarily need training services at this very moment, they will need a plan for when things return to normal.
Recessions serve as a very clear wake-up call - if you don’t have a plan for how to work remotely or how to train from anywhere, you need one! Using a personizable eLearning platform is how you can prepare for that time frame. Having a versatile online training platform helps keep your company’s approach to training agile and ready to meet your employees where they are. That’s something you’ll already want to have in place once the crisis calms down.
“Every minute you spend in planning saves 10 minutes in execution; this gives you a 1,000% return on energy!”
― Brian Tracy, author and motivational speaker
Act before you have to! Interested in developing an eLearning platform that can keep your team educated while dealing with the realities of a recession? Look no further than Knowledge Anywhere. We can help you build a Learning Management System (LMS)built for your specific training needs. For more on how we can help, contact us today!
Learn how you put education at the center of your organization with these great articles and resources.