Learning Management System, Champions, E Learning, Jobs Selecting, Learning Experience, Learning Management System, Online Course, Solopreneur, Training, Video

What you will learn:


  • What is a video-based employee training?
  • Why is it more beneficial than traditional training?
  • How can FreshLMS help you for free?

Organizations operate in a fast-paced environment. There is very little time for the employees to settle in and get used to the new work and environment. Most organizations look at it as a waste of precious man-hours and money (considering that the average training cost is around $1,041 for each employee). They consider it a mere formality and find quick ways to complete the training, which honestly can be quite catastrophic in the future. 


If you ask an HR professional, they will tell you that an ideal onboarding period should be between 90 to 100 days. However, a survey by CareerBuilder showed a very different picture. The survey of 2,300 hiring managers and HR professionals indicated that only 11% of companies have an onboarding process of more than three months. 25% said the process gets over within a day, while 26% confirmed that they spend a week or less on onboarding

 

Understandably, organizations do not have the time and resources to conduct extensive training programs, given the pressure of working in an agile environment and the focus on accelerating the go-to-market process. However, the HRs argue that an onboarding program of less than a month can impact the retention rate. It takes time for employees to get accustomed to the new culture, compliance, and duties. 

They say that having a more extended onboarding program, preferably for a full year, can improve the retention rate by 25%.

So, how can organizations implement this in a cost-effective and time-saving manner?

 

The answer lies in video-based employee training.


What is a video-based employee training? 

video-based employee training?

Video-based employee training is delivered in video format. These videos can be animation videos, interviews of leaders and employees, explainer videos, and corporate videos talking about the company. They are engaging, accessible, and can be viewed anytime by your employees. 


How online learning platforms are beneficial over traditional training?

Here are five reasons why online learning platforms score over traditional classroom training.


1. Cuts cost


Cut Costs

Do you know, on average, a company spends 40% of its training budget on travel costs? Add to it the additional expenses of training material and other logistics. You can save all those expenses by adopting video-based employee training. There is just a one-time expense of developing video-based training. Companies like Microsoft and IBM have saved $303 per person to $579 million in two years, respectively using video-based training. 


2. Aids better learning


Aids better learning

In traditional training, employees have to keep pace with others to complete the training. Sometimes they might miss out on crucial lessons in the process. With video-based training, they can learn at their own pace. They can even replay the lectures or rewind it by a few minutes to learn better. This helps them to get a better grasp on the subject matter.


3. Helps to break complicated subjects into bite-sized content

bite-sized content

According to Forrester’s research, 75% of employees prefer to watch a video rather than read an article, document, or an article. Thanks to its audio-visual capabilities, it also increases the retention by 35%. This means that if you have to train your employees on complicated and technical subjects, then you don’t have to resort to lengthy training formats.

You can break them down into bite-sized videos of 3-5 minutes so that it is easy for them to grasp it. And it need not be easy. Take CitySprint, for example. They created a fun, animated video on how employees should adhere to a checklist to ensure that the package arrives safely. The video drove the points better than a textual or in-class presentation that is easily forgettable.


4. Provide training to a broader audience 

training to a broader audience

Conducting mass-training, especially for employees across different projects, time zones, and locations, can be challenging. Video-based training removes that stress. Employees across various locations can easily access video-based training. You can provide training to 10-100 employees all at once. 


5. Easily measurable


5 Reasons Why Video-based Trainings are Perfect for Your Employees 1

Tracking the effectiveness of the training can be time-consuming. There could also be delays in measuring them as you have to consolidate the ratings from the participants and calculate the average ratings. If you include analytics in your video-based training, you can measure its effectiveness in real-time. This will provide insights on which modules have worked and which require improvement. 



How FreshLMS can help you in launching your own online learning platform?

 

FreshLMS is an easy-to-use learning management system that helps to build a culture of learning in your organization. You can build courses, create courses, introduce gamification, and track its effectiveness using the platform. FreshLMS also allows you to upload video-based training. You don’t have to worry about the storage or the security of the videos. FreshLMS takes care of it.

FreshLMS is in the beta stage. We are striving to create a world-class learning platform for organizations like yours. So, that’s why we are not charging a single penny from you.

So, what are you waiting for? Visit our website to know more and get started on creating a world-class learning experience for your employees.  


                                            Start a learning platform for your organization NOW

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Solopreneur, blog, Champions, Fashion, Food

I have immense respect for the Solopreneurs and the small businesses. They are the ones who are the backbone of the economy of any country. Sadly they are also the ones who always get overlooked. The government policies are either for unemployed or for the Fortune 500 companies. 


LinkedIn, Freelancer.com, Upwork.com, Dribble, etc. are all filled with solopreneurs. It is these solopreneurs who are sharing their immense knowledge on to these platforms day in day out to search for work. This incredible content is what makes these platforms super popular and reach a valuation of Billions of Dollars. 


Some of the exciting stats on Freelance statistics


In the USA, People who freelance contribute an estimated $715 billion in freelance earnings to the economy


In the UK, the flexibility offered by Britain’s freelancers is worth £21 billion to the UK economy in added value.


Solorpreneurs are not the guys who work on Technology only; they can be a painter, dancer, librarian, chef, musician, writer, sports player, or anyone you can think of. 


Every solopreneur must succeed in what he or she is set out to do. It is the only way our world can be a beautiful place. 


“Happiness makes you more Humane.”


Sure Shot formula of Success for every Solorpreneur or a Small Business owners. 


1. Create Your Brand from Day -100. 

 

Create Your brand

 


Yes, If you are planning to do stuff on your own, then you have to start creating your personal brand. So if you think that after three months you want to begin to do something on your own, then you better start working on your branding from today. 


What is a brand: 

For example I want to work with a freelance content writer Vs. I want to work with Rahul, who writes terrific content


Your prospective customers remembering your name for what you do is a huge differentiating factor between you and others. 


How to create your brand: 


a. Create a Course and Sell or Share: 

 

Packaging your knowledge into a course is a great way to let people know you better. Capture your expertise in videos or documents and make it available to the world for a price or for free. 

The people who take the course are your prospective buyers as they know you better and if you price the course, you can start generating a steady income too 🙂 

 


b. Be Vocal and Be Social:

 

Having a strong opinion in the areas you deal with is very critical. This shows your confidence and your belief in the business areas you deal with. So on whichever social media platform or even or in discussions with your prospective leads, make sure you put your opinion in the right way. 



2. Have Financial Reserve for 6 – 12 months:

 

Financial Reserve



If you are switching from a full-time job to freelancing then make sure you have reserve money to feed yourself, your family and invest into business for at least 6 – 12 months. 


Everyone has a plan until you get punched in the face. 

Be ready for everything, including a not so steady income or no income for the first few months of your solopreneurship. 


3. Make your family comfortable:

Family Planing



Discuss in detail with your family on the pros, cons, and the rationale behind taking this big step in life. You must make your family feel secure and comfortable. You can only then concentrate 110% on the work you are going to do. 


4. Just go for it:

No amount of planning can beat the experience you get while doing.
So don’t let yourself get into the analysis paralysis and don’t move forward. 



All the best for your incredible solopreneur journey. 


Do share your thoughts and ideas so that I can also share it with the world and make every solopreneur successful. 


You can create courses in just a few clicks using FreshLMS. Start building your course today. 

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solopreneor, blog, Body Buliding, Champions, Fashion, Learning Management System, Online Course, Solopreneur

Fintech is a $109.8 billion market with more than 7,500 companies operating in the ecosystem across the globe. The fact that fintech leverages its technical prowess to offer quick financial solutions to customers as compared to traditional banks makes it a hot favourite among customers.


In fact, a study by Capgemini-EFMA revealed that 40.3% had a positive experience with fintech companies as compared to 37.1% with traditional banks.


However, the industry cannot rest on its laurels yet. As technology changes, they have to upskill their employees to align them to the changing demands of the industry. And in a highly regulated industry like finance where rules frequently change, complying to it is a priority.


Continuous training is, therefore, a necessity to stay ahead of the competition.


However, with the humungous volume of work, dedicating time for training can be quite a challenge for your employees.


That’s when you have to leverage technology again; this time to offer digitized training to your employees.

 


Benefits of Digitizing Training

 

Apart from saving the cost of conducting training sessions for the employees in batches and giving them control over how they would want to complete their training; digitizing training can help your employees in multiple ways.


1. Roll out regulatory training in one go


Training your employees in batches can be a risk as everyone will not be on the same page while servicing the client. It is also challenging to get trainers who are fully aware of the rules to train the employees immediately.


Even if you get a well-informed trainer, coordinating with them and arranging batches can be a daunting task. Considering that you function in a highly regulated industry, it’s crucial that every employee is aware of the new and updated regulatory practices as soon as it is rolled out so they can make well-informed decisions that are in line with the regulations.


With digitization, you can arrange an online training with an SME for all your employees in one go, thus ensuring that everyone is aware of the guidelines they need to follow to adhere to the new and updated policies.


This will not just save your time and money on arranging frequent batches, but will also simplify the process of upgrading your employees.


2. Make employees job-ready within a short time


Onboarding new employees can take more than 2-3 weeks as you have to train them on the different tasks, processes, and policies they have to adhere to be ready to start the work. Another 1-2 weeks are spent on shadowing other employees to get acclimatized to the day-to-day operations.


While this might be an ideal process in traditional banks where there are a lot of resources to manage the workload; fintech companies are mostly startups and work in a fast-paced environment with limited resources.


It is, therefore, crucial to accelerate the onboarding process of the employees. The on-the-go nature of digitized training will help your employees to learn and shadow their peers simultaneously.


Employees can also test their knowledge after every module and revisit the lessons if required. The anywhere, anytime delivery of lessons will help the new employees to start the work within 1-2 weeks as compared to a month.


3. Improve the productivity of the sales team


With less time by their side, sales personnel often find themselves out of touch with the latest development in the industry. They understand that merely possessing persuasive skills is not sufficient for them to perform.


Sales teams need to upskill themselves and stay agile to sell better and quicker. Digitized training enables the team to upskill themselves and sharpen their capabilities on-the-go.


Online learning leads to better productivity and a better understanding of the customers and the industry. They can also save time on attending classroom lectures, yet keep themselves updated.

 

4. Empower the customer support team

 

The customer support team is responsible for delivering an excellent experience to the customers throughout the customer journey. Today, a customer will not think twice before posting a complaint on social media if they are unhappy with the service. Hence, it’s important to empower your customer team to respond and resolve customer issues quickly.


Digitized training will enable your customer support to learn the various aspects of customer service and test their skills through gamification and other interactive activities.


5. On-demand, easy to access lectures


Time is money, and in a fast-paced fintech ecosystem, the most agile company closes the deal first. This leaves the employees with very little time to upskill themselves. Attending classroom lectures have become increasingly difficult, and even attending live online lectures regularly might not be viable.


Easy to access, on-demand lectures will let your employees access the lectures from anywhere, anytime at their convenience and pace. These lectures can also be downloaded for offline viewing, making it easier for the employees to access it whenever they want.


Digitized training is the best way to empower your employees and retain them in the company.


However, if the lectures are not well-defined, you might lose your money on the entire implementation of the training program without generating any substantial ROI. Hence, ensure that the lectures are designed well and aligned with your learning objectives.


Need help in implementing a Learning Management System for your company? Contact us for details.

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