Grovo has raised a $40 million Series C round, just one year after its $15 million Series B round. Grovo claims its recurring revenue has increased 400 percent over the last year. The company offers training videos and advises corporations on how to align their training with business goals. Grovo pairs each of its clients with a two-person team that provides hands-on support. The videos last a minute to 144 seconds, catering to the current generation of office workers and their shorter attention spans. Companies can also integrate the videos into their own training, using Grovo as both an LMS and a content library, or working with the company on custom videos or upload third party videos.
Ken Research's report showed that the corporate training market will see a robust growth and expected to reach INR 32 billion by 2020. The market for corporate education in India has a huge scope for expansion in the coming years in comparison to global corporate education market. Low cost of investment, lack of entry barriers and minimal differential prices has not only led to immense competition but also guarantee enormous growth potential.
Some companies are increasingly aware that delivering empathy for their customers, employees, and the public is a powerful tool for improving profits, but there is a common misconception of empathy programs being "touchy feely". Rene Schuster, former CEO of Telefonica Germany, puts it this way: “Empathy is not a soft nurturing value but a hard commercial tool that every business needs as part of their DNA” Schuster implemented a Germany-wide empathy training program that led to an increase in customer satisfaction of 6% within 6 weeks.
Did you know that eLearning saves not only the environment, but money and increases learner’s content retention! Lowering a training program’s carbon footprint not only helps the environment, but also saves money and can make your training more effective. Moving your training online cuts down on paper, cuts down travel emissions and costs, and saves energy.
According to a report released by IBM, companies who utilize e-Learning tools and strategies have the potential to boost up productivity by up to 50%. For every dollar that company spends, it is estimated they can receive 30 dollars' worth of productivity.
Arraying the learning outcomes to business and performance goals.
To start with, do a detailed Training Needs Analysis and Competency Mapping practice, which will help scope the learning gaps and possible options clear.
Determining the right learning strategy to craft the online trainings.
Create engaging & immersive courses with effective use of Instructional Design.
Adopting an efficient assessment strategy. It helps us evaluate if the training met the needed cognition level and was indeed able to bridge the distinguished gap.
Providing a collaborative learning platform-
Platforms for social or informal learning will facilitate learning and can also be used to create live case studies of success.
Getting user feedback-
Initial reaction that could include views like the adequacy of content to meet the learning results, impact of the learning strategy.
Course instructors get performance reports for students which allows employers to identify the existing skill gaps in their workforce and create content that covers it.
2. iSpring Learn
It has a fully integrated powerful authoring tool and detailed custom reports. Employers can use these reports to identify exactly where a particular employee is lacking in terms of skills and knowledge.
Gives the ability to create virtual classrooms with a company's branding and recruit students based on an organization’s skill gap analysis. Includes eCommerce features to sell courses and social features allow group discussions.
It allows to integrate existing training material with the system and make it part of a broader training curriculum. It offers collaboration features as well.
It can create and publish courses in a matter of minutes. It provides detailed dashboards with data and trends about student performance and course effectiveness
One of the outcomes at the EMEA perspectives event was: “Can LMS solutions provide corporate training under departmental budgets or are they an employee benefit?” Staff like the idea of being able to receive training even if it is not role related.
Companies need to be aware of how tech changes will affect both their business and workforce. They then need to decide upon a training strategy which is not necessarily about re-skilling the workforce for their next role. Training can no longer be a one off induction cost.
Recent studies show that happiness improves productivity and that worker happiness can also impact stock price positively.
Companies should consider how they deliver continuous education. Their strategic choice is important and they can train staff for their current role, future roles or enable the employee to educate themselves. It will be interesting to see how companies deploy LMS across their firms and whether they continue a traditional strategy or a mixed strategy approach for the future.
Doesn't it make sense to package training in flexible modules of content that can be assembled around a student or facility, rather than requiring learners to follow prepackaged curricula? This would give employees access to the best content and allow companies to better track all learning and gain deeper insights into employee’s knowledge and skill sets. Over time, this approach would create unique training pathways for each employee and drive even higher ROI on training spending.
That’s how to efficiently and effectively democratize corporate training—with each employee receiving personalized offerings tailored to individual and company needs.
ZOOMI has raised $2.5 million from an undisclosed group of investors. The Malvern, PA-based startup makes adaptive workplace software that helps individualize corporate training. Zoomi will use the funding to bolster its technical staff and its platform's capabilities Zoomi incorporated in 2012.