By Kieran King, Global Director, Loyalty Strategy, Skillsoft
As we begin 2014, why not make a resolution to stop overspending on instructor- led training and stop building what you could buy? According to Forbes Magazine, at this time of the year approximately 40% of us make New Year’s resolutions, yet only 8% of us stick to it. If one of your goals this year is to make the most of your 2014 learning and development budget, Skillsoft is the smart answer.
According to research by the world’s largest learning analytics firm, KnowledgeAdvisors, Skillsoft delivers effectiveness and business impact that is comparable or better than classroom training and internally developed elearning. So if there is statistically sound research that proves that Skillsoft is as good or better, organizations that continue to perpetuate traditional investment levels in the classroom are missing a key investment play.
Firms that have their internal content developers build content that could be purchased from Skillsoft off-the-shelf could be directing those resources toward what truly is proprietary and necessary to create. The time to change is now.
In fact, Skillsoft has a significantly higher learning application rate too. The application rate is essential to ensure successful knowledge transfer to the job. Scrap learning means that the skill is developed within the employee successfully, but when it is not applied to affect performance, that is an investment in time and money that will never produce a return.