GLOBAL RETAIL ACADEMY
Retailers Need Embrace Digital Learning
Retailers of today are faced with one of the most competitive, most transforming, yet most exciting retail landscapes in decades. The pace of change as we enter into the digital revolution touches all aspects of retail, and while this offers an abundance of opportunity, there are areas within the industry that are slower to capitalise on the new opportunities that exist. One such area that has been lagging behind is retail education; a company’s biggest asset is its people, & the most important investment that a company can make is the investment in people. But as retailers try to operate faster & more efficiently, training is still low on the priority list. Throw into the mix that 87% of Millennials (the most significant labour force) cite professional development as a key value-add, who also have different expectations of how they get trained & it is easy to understand why retailers need to take the responsibility to focus much more on training
"An investment in knowledge pays the best interest." -Benjamin Franklin
The approach to learning & development in the retail industry hasn’t changed much in decades, & there needs to be a shift in the way in which retail businesses approach, structure & deliver training. With digital learning, companies can now bring relevant content to the right professionals at the right time, with the advantage of being able to access some of the world’s best retail practitioners, coaches and trainers at a fraction of the cost of traditional training methods. Retailers no longer need to the make the extra time commitments associated with traditional learning; a study conducted by Brandon-Hall concluded that digital learning requires 40%-60% less employee time than learning the same material in a traditional classroom, add in that we forget 2/3 of what we are told within 9 hours & you start to see the benefits of online learning
Revenue generated per employee is 26% higher for companies that offer training using technology
Digital learning, however, isn’t just about online learning; it requires a holistic approach to how technology used interconnects with social, cultural and commercial nuances. At the Global Retail Academy; a soon to launch digital learning retail education site; we are working diligently to create a truly Global Centre of Retail Excellence that provides comprehensive retail education designed and delivered by experienced global retail practitioners. The site will be home to a compendium of knowledge and digital learning covering all aspects of the retail industry. Courses are designed with the needs of retail professionals in mind, such as learning speed, engagement and learning styles. There are multiple benefits associated with embracing digital learning for both retail companies and retail professionals
A wide range of courses that can be accessed on any device
Ability to learn faster while retaining up to 40% more of the information learnt
Reduction in time away from the work place or shop floor & eliminates the need for costly travel, accommodation & venue hire
Retail professionals can choose to learn at their pace when they want & how they want. Learning is no longer defined by a time and place, it’s about flexibility & choice
The aim of every retail leader & L&D professional should be to work out how to bring learning into the everyday life of employees. One such method is micro learning, a concept hugely beneficial to retailers who can be time poor. With micro learning employees learn in small bite-sized chunks often while doing their job & via watching short animated videos on mobile devices. Learning this way has been proven to make learning 17% more efficient & given it is forecast that within the next couple of years video will represent 80% of all internet traffic it makes sense that the way to learn follows suit
. When we are happy, our brains are 68% more active, allowing us to absorb 86% more information
Other elements that are helping employees engage in learning include Gamification & social learning. Gamification makes learning fun & when we are happy, it is proven that our brains are 68% more active, allowing us to absorb 86% more information. With social learning, there is the benefit of sharing learning experiences between employees and organisations incorporating social media groups & online discussions, again making learning more engaging
Learning is not just confined to reading, searching the Internet or attending a class there are new ways of learning, and for retail, the Global Retail Academy will be the go-to site for retail knowledge and education. Every single day & every interaction is a chance to learn, & as the world around us evolves so, we should sharpen our saw to ensure that we keep on top of our chosen field. Part of being successful is the understanding that you never stop learning
Mark Johnson bio
With an international retail career of 30 years starting from the shop floor to senior leadership roles & with multi sector experience, Mark is a sought after retail expert, a pioneer of a number of UK retail concepts & a highly acclaimed expert in the field of virtual leadership. As co-founder of the Global Retail Academy, an online blended learning retail education site that has been set up to help retail students, professionals & businesses learn & develop retail skills, he passionately believes in the opportunity to enable retail professionals to have access to better retail education
www.GBMnews.ir
www.Goldenbusinessmagazine.com
www.Tejaratetalaeenews.ir
