|[March 06, 2013]
Independent Study Reveals Skillsoft Elearning is a Smart Answer to the Global Talent Crisis
NASHUA, N.H. --(Business Wire)--
today announced the results of an independent study that revealed that
Skillsoft's elearning solutions build skills that impact job performance
as well as or better than classroom training and in-house elearning.
Because Skillsoft elearning is generally more cost-efficient than
classroom training or building elearning internally, it can be readily
scaled to more employees, helping organizations adapt with more agility.
The study was conducted by KnowledgeAdvisors,
the world's leading learning analytics company, and built on the results
from Skillsoft's 2011 Moving
the Needle: How Skillsoft Learning Impacts Performance of Individuals
and Organizations report. This latest study compared the 2011
findings to two new benchmarks: classroom training and in-house
developed elearning. The results revealed that Skillsoft elearning is
better at reducing the time it takes to perform tasks, increasing sales
and decreasing costs compared to classroom training and
internally-developed elearning solutions. The study provides evidence
that maximizing Skillsoft elearning is a sound way to respond to the
worldwide skills shortage and the 'do more with less' paradox.
The analysis compared the responses of 7,800 Skillsoft learners from 465
organizations to benchmarks that contained millions of classroom
training and internally-developed elearning data points. The analysis
found that Skillsoft elearning solutions were as good as or better than
in-house developed elearning and were as effective as classroom training
in their ability to positively impact the job. Responses came from
organizations of all sizes and industries across a wide geographic
landscape with varying lengths of experience with elearning.
"Business leaders are most concerned with getting a return on their
training investment and business impact. By selecting Skillsoft, they
can reach their organizational development goals with a cost efficient
and highly effective solution," said Kieran King, global director,
loyalty strategy, Skillsoft. "The results of the study are significant
in today's climate where organizations need to solve deep talent gaps
with constrained budgets and staff. The results make a strong case for
training and HR professionals to reduce unnecessary classroom
investments and stop developing elearning solutions that can be
purchased or outsourced more easily and less costly."
According to the study, some of the key areas in which learners
experienced clear, measurable benefits using Skillsoft's elearning
Positive impact on critical area of business performance -
According to the ROI
Institute, 96 percent of CEOs want to know the impact that training
has on performance, but only 8 percent receive this information.
KnowledgeAdvisors determined that there are significant benefits to be
realized from the use of Skillsoft elearning related to job performance
across a number of critical areas including:
8.1 percent improvement in the time it takes to perform a task. This
is 47 percent higher than internally-developed elearning and 30
percent better than classroom training. Respondents cited
easily-accessible reference materials and training programs as well as
improvements in time management, more efficient reporting and process
improvements as contributing factors.
8.2 percent decrease in costs with Skillsoft elearning, which is 38
percent and 33 percent better than in-house elearning and classroom
training benchmarks, respectively. The decrease in costs was due to
improved employee productivity and work efficiency and reduced
training and travel costs.
8.2 percent increase in sales with Skillsoft elearning. This is a 48
percent and 40 percent improvement over the other benchmarks.
Increased sales were a direct result of improved employee skills in
understanding customer needs, negotiation, assertiveness,
communication and business acumen.
Increased satisfaction - The results demonstrated that Skillsoft
learners are 43 percent more satisfied than classroom learners and twice
as satisfied as learners using in-house elearning.
Higher learning application rates - According to
KnowledgeAdvisors, employees typically apply 20-50 percent of what they
learn to the job. The 2011 study showed that Skillsoft content has a
very high application rate with 86 percent of the content that employees
reviewed being applied to the job within six weeks. The follow-up study
found that Skillsoft content is applied at an 8 percent higher rate than
classroom training and at a 12 percent higher rate than in-house
Benefits of elearning demonstrated across industries -
KnowledgeAdvisors collected sufficient responses from seven industries
to produce market-specific results in business consulting, business
services, education, telecommunications, computers, finance and
government. Of note, Skillsoft's ability to increase sales was strongest
in the telecommunications, business services and computer industries.
Additionally, Skillsoft's learning application rate was highest in the
business services industry at 93 percent.
"Organizations should feel compelled to explore how they can optimize
their investments, scale learning to reach more employees and implement
solutions that truly enable an agile enterprise," said Jeffrey Berk,
Chief Operating Officer, KnowledgeAdvisors. "The study KnowledgeAdvisors
conducted for Skillsoft leveraged millions of data points from real
Skillsoft users which demonstrated that Skillsoft solutions are highly
effective, cost efficient and contribute to improving individual and
organizational performance across industries. This is particularly
relevant now as organizations are faced with shrinking budgets and
rising workforce training requirements."
The report is available at: http://www.skillsoft.com/infocenter/whitepapers/documents/whitepaper_challenge_the_status_quo.pdf.
For more information about Skillsoft, please visit http://www.skillsoft.com/.
Tweet This: Study
conducted by @KnowledgeAdv reveals @Skillsoft #elearning is a smart
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KnowledgeAdvisors is the world's
largest provider of learning and talent measurement solutions. Our
industry-leading learning analytics system Metrics That Matter®
helps businesses significantly improve the business impact of learning,
and our consulting team provides learning measurement strategies to help
optimize talent development programs. For more about KnowledgeAdvisors,
Skillsoft is a pioneer in the field of
learning with a long history of innovation. Skillsoft provides cloud
based learning solutions for its customers worldwide, ranging from
global enterprises, government, and education to mid-sized and small
businesses. Skillsoft's customer support teams draw on a wealth of
in-house experience and a comprehensive learning e-library to develop
off-the-shelf and custom learning programs tailored to cost-effectively
meet customer needs. Skillsoft's courses, books and videos have been
developed by industry leading learning experts to ensure that they
maximize business skills, performance, and talent development.
Skillsoft currently serves over 5,000 customers and more than 13,000,000
learners around the world. Skillsoft is on the web at www.Skillsoft.com.
Skillsoft, the Skillsoft logo, Skillport, Search & Learn,
SkillChoice, Books24x7, ITPro, BusinessPro, OfficeEssentials,
GovEssentials, EngineeringPro, FinancePro, AnalystPerspectives,
ExecSummaries, ExecBlueprints, Express Guide, Dialogue, Quickskill and
inGenius are trademarks or registered trademarks of Skillsoft Ireland
Limited in the United States and certain other countries. All other
trademarks are the property of their respective owners.
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