Simulation training is the new buzzword in business. Walmart, Boeing and KFC are some of the corporate giants who have adopted the new training method and witnessed massive growth in employee performance. Why?
Because simulation training can help organisations learn faster, improve performance, reduce costs and make better decisions. And given how hard it is to find experienced employees, it is easy to understand why businesses want to upskill their staff using this tool.
A new study released by Verified Market Research forecasts the global virtual training and simulation market to grow at a CAGR of 13.30% during the period 2021-2028. With the average cost of a data breach now exceeding $4.2 million, simulation is being used by businesses not just to save money but also as a means for preventing and dealing with data breaches.
Today’s business world is a fierce and cruel mistress; she rewards those who are able to thrive in this unpredictability and punishes the weak who fail to adapt. Embracing change, adapting quickly and improvising in the face of uncertainty is what separates the winners from the losers. There are certain industries where the stakes are so high that any lapse in attention or judgement could result in catastrophic consequences for employees and customers alike. This is why simulation training can be an invaluable tool for businesses that operate in these sectors.
Although simulations can be used for a multitude of reasons, there are five main reasons why your organisation would benefit from using them.
We know, we know, you’re thinking, “How can training be fun? That sounds like an oxymoron!” Indeed, training can often be long, boring and repetitive. It isn’t always fun!
However, simulation training isn’t the same as traditional training. The difference is that it’s interactive, and you actually have to think and engage with the content. Simulation training is a lot more engaging because they’re not just sitting back and listening to someone speaking to you. You need to take part and interact with the various scenarios it presents.
It may come as a surprise to you that simulation can actually save you money in the long term. How? Well, by developing your employees’ skills at work, you can reduce the number of mistakes your team will make on a daily basis. By reducing the number of errors your employees make in a day and ensuring that they have developed their skills to the point where they can do their jobs well, your organisation will save time and money in the long run.
In addition to improving the skills of an individual team member, simulation training also helps to improve teamwork between people. In a crisis situation (and in real-life scenarios), people from all areas of the organisation need to work together in order to overcome problems and ensure that the organisation succeeds. By working together, employees can learn about each other’s roles, develop relationships with one another and become more productive.
There are many things that we can learn from using simulation training that we would not be able to learn in the real world. For example, we cannot take risks in the real world that could result in injury or death. In a simulated environment, though, these risks and dangers can be eliminated. Your organisation can use simulation to develop skills and strategies without the threat of people getting hurt or killed. This way, you can be sure that your employees are safe at all times while they are learning new skills and developing new strategies for their work environment!
If you’ve ever tried to run a training session in a room with no windows, you’ll know how important that can be. It just isn’t fun to spend all day indoors. By setting up simulation exercises outdoors, you will be able to take your staff out of their comfort zone and introduce some variety into the training process. Not only will this make the sessions more enjoyable for your team, but it will also make them more memorable.
So if you’re a company trying to move forward and make your business better, we’d strongly suggest you take a look at our list of reasons why simulation training is important. It just might give you the push you need to get going on your own training simulator. Use it to keep yourself, and the people who work for you prepared in all kinds of situations.
Learning is no longer limited by time or distance, so go ahead get your team ready today. If you need help with selecting the right simulator for your training needs, feel free to reach out to us.