Pre, during, or post Covid-19, did you, do you, or will you, invest in learning? What return can you expect, if so?

Huge investments by governments have been necessary to stimulate post-Covid-19 recovery plans. Airports are spending massive amounts on testing, governments on vaccines, track and trace, and the negotiation of travel corridors and passports.

What investment have you made for recovery, and does it involve empowering you and/or your team to thrive and survive?

Deloitte (the largest professional services network in the world) has created a ‘Post Covid Recovery Workbook’ which includes three phases it says all resilient leaders must address:

  1. Respond – dealing with the present situation and managing continuity
  2. Recover – learning and emerging stronger
  3. Thrive – preparing for and shaping the new normal

We’re sure you’ve been responding and navigating the storm we find ourselves in, or perhaps you’ve battened down the hatches and entered hibernation. Whatever approach you’ve taken, as the new dawn emerges you’re only going to survive if you’ve prepared and are adapting.

You’ll have heard the saying ‘your people are your most important asset’. Whether they’re in product, web, tech, sales, HR, accounts or leadership roles, everything they do will have an impact on your customers. They have to be skilled, or may need to re-learn dormant skills.  This is going to take investment from you.

“For the best return on your money, pour your purse into your head.” – Benjamin Franklin.

So, historically, where learning plans for your people may have been considered beneficial, they must now be classed as essential.

If you don’t reap the following returns on investment from training, your competitors will.

  • Improved performance
  • Job satisfaction and morale
  • Motivation
  • Ability
  • Efficiency
  • Identify and improve weaknesses
  • A culture of continuous review, change, innovation and involvement
  • Positive customer experience, reviews and comments
  • Increase profits
  • Reduced employee turnover rate

With purse strings drawn tight, the cost of training may concern you; if you have to rely on expensive face to face training courses, these concerns are justified.  Your training needs can be met online with our courses. Our e-learning is affordable and effective, delivered in easy to consume, bitesize chunks, accessible anywhere with a Wi-Fi or mobile data, and allows you to visit and return to the learning whenever you want to.

Here are some e-learning statistics.

  • A study by IBM found that every dollar invested in online training resulted in $30 in productivity
  • The Research Institute of America states that retention rates of face-to-face training are low at 8% to 10%. However, e-learning has retention rates of up to 60%
  • CertifyMe.net states that 72% of organisations interviewed said that e-learning increases their competitive edge
  • Learning through e-learning requires 40% to 60% less employee time than learning the same material in a traditional classroom setting – Brandon-Hall Study

Let’s use a cost comparison for a sales training course for travel consultants.

Classroom trainingE-learning
Average price of a three-day sales course = £995  £50 for a 12-lesson course
Travel and accommodation costs = ?  No travel or accommodation costs
Time out of the office = ?Can be completed in small bitesize chunks anywhere at any time

If you calculate the potential return on investment from the training above, first add in the missing costs for your business. However, even without completing the formula, it’s clear the cost is significantly cheaper. Using the ROI mentioned earlier, it’s evident the benefits outweigh any doubts you may have that empowering yourself or your team through e-learning is not an essential element of your recovery plan.

We’re passionate about training and recruiting talent to ensure the industry thrives and survives. Take a look at our travel courses written by global travel industry professionals who know what it takes to succeed.

We’re passionate about empowering the travel industry community. If you feel the same, share this blog to your social media.

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