The federal government spends millions of tax payers’ dollars every year on training incentives for the employers, however it is clear that the true winners in the provision of training are the training companies themselves. A new and more effective way of providing training and ensuring lower trainee turnover is paramount, in order for Australia to be realised as a true international player in terms of service provision and skills recognition.
Now, there’s a group of talented young Sydney-siders who are turning the eLearning and employee rewards industry on its head by rewarding employees to train through innovation and enabling employers to reduce their attrition rates. Ben Thompson and Nathan Kitchner from Power2Motivate believe that every employee deserves to be educated and empowered, and given a rewarding career in which to utilise their skills. They offer employers a free online platform with a fully integrated Learning Management System (LMS) to administer their eLearning requirements, and they combine this with a comprehensive rewards platform. Employers then need only buy rewards points and allocate them to their staff for successful completion of required eLearning.
“With attrition rates as high as 80% for companies implementing eLearning programs for their employees, if they aren’t rewarding their staff for course completion then the only winner is the eLearning provider” says Thompson
“There is strong evidence that by implementing rewards and motivational tools, organisations will achieve a much higher completion rate in a shorter timeframe.”
“Training has a vital place in the professional development of employees, it’s not just good for retention, but it’s good for the client and customer, who ultimately benefit from better educated and more highly trained employees,”
“However, training must be of value to all stakeholders to be successful. What we are currently seeing is a situation where the employee doesn’t feel they get true value from training alone.’ says Thompson
‘Employers must measure the real return on investment of their training programs – both internal and externally provided – and see if they are really putting their money where it is needed.’
‘In the current financial times, it is more important than ever to ensure that businesses invest in their people – but that must be a true investment with an outcome for the employee, client and business.’
‘There’s no point companies investing in training when they have an 80% turnover of participants – they may as well save that training money straight into their P&L.’
‘But if a company wants to grow during a slow economic period – then training remains a vital cornerstone of retention and workforce development. By imbedding training with a comprehensive rewards system, companies can increase their return on investment in training exponentially.”
Power2Motivate has been developed with a SCORM (the universal language of eLearning) compliant LMS as part of a rewards platform, which means that organisations can combine learning and rewards strategies in one place. There is no longer the need to have multiple systems that can have a high cost of implementation, ongoing administration and little or no integration. Power2Motivate is a total solution for all employers who are wanting to skill-up and grow.
“We are continuing to grow our business at a rapid rate with expansion across the Asia Pacific region already underway, the program is now available in 37 countries and 8 languages with more to come.’ comments Kitchner
‘There are so many companies that are now discovering how integral rewards are to meet learning outcomes, build and sustain a positive culture, maintain engagement, motivate, and increase productivity,’
‘However, many companies have been stung by reward programs that cost upwards of $100,000 before you start and don’t offer a good return on investment,’
‘Power2Motivate gives employers the opportunity to administer their rewards programme for free – and only pay for the rewards they allocate to their staff. It is a long-term, sustainable investment for companies whose goal is to be sustainable or even grow through the recession.”
