In the business arena, productivity is king. A company’s productivity is measured by examining the ratio between its output volume (goods and services) and its input volume (labor, capital, and natural resources). In other words, productivity deals with how efficiently a company outputs its goods and services.
One of the most crucial “inputs” in which a company can invest is effective sales training (or any relevant training). First-class training is essential to a company’s productivity, as it equips team member with the tools they need to work effectively and efficiently.
To be as productive as possible, companies need to find ways to provide cost effective training that meets all needs while keeping down both monetary and time expenses. For that reason, the value proposition of virtual sales training (or again, virtual training of any kind) can’t be overstated, as it reduces costs, saves time, and contributes to employee satisfaction.
Traditional training comes with a high price tag. Whatever the size of the group being assembled, employers must find space to accommodate them, which usually means shelling out significant sums to rent conference facilities, large auditorium(s), and smaller classrooms for breakout sessions.
Additionally, if employees have to come from out of town to attend training, employers must foot the bill for gas costs and/or airplane tickets, on-the-road meals, and hotel tabs.
Then there’s the price of materials, food, and entertainment during the training proceedings. Employers absorb the costs of meals, speakers, printed materials, the obligatory company swag, and sometimes (usually for larger companies) performers.
However, if employers switch from in-person training programs to virtual learning experiences, they can eliminate all of the abovementioned expenses. Effective virtual training delivers the same results without the need for facilities, travel, meals, entertainment, or printed materials.
Another factor to consider is time. For conventional training, instructors and attendees must take time off from business as usual, which can’t help but impact the company’s productivity, especially when you consider any potential sales losses. In addition, the time it takes for employees to travel to the training venue could also be saved by implementing virtual training, which would conserve those hours for productive work.
Virtual training information also transfers faster, according to recent studies which indicate that online learning can reduce overall training time by 40% to 60%. Shorter trainings translate to lower opportunity cost, fewer expenses, time for more training or re-training and increased productivity, all of which engender greater profitability.
Increased Employee Satisfaction
Employees don’t want to spend their time on the road or in hotels any more than you want to pay for them to do so. Where they really want to be is home with their loved ones as much as possible. They will therefore appreciate any efforts you make on their behalf to help them achieve that elusive work/life balance. Happy employees are loyal employees, and loyal employees mean less turnover, a stronger bottom line and — you guessed it — greater productivity.
Better Training Quality?
Can virtual sales training provide the same quality as in-person training? The answer is soundly yes. If companies use the right virtual training technology that was designed for training and learning, if they teach their trainers how to train virtually and if they use content that’s relevant, engaging and focused on activity-based learning, these training sessions can reap better benefits for the team than in-person training. An example is being able to put 3 people in a virtual role playroom that houses a case study and have them role play how to position and sell a product/service. While this is happening, another group can be working on a completely different case. The more hands-on experience the better. Add to the scenario is the ability to record these role plays so the trainer and the participants can review what they said and did is a perfect way to understand and improve.
To learn how to realize the greatest value from virtual training, visit Jigsaw Interactive at www.jigsawinteractive.com.