Businesses in the UK are currently 'losing' up to £56 billion a year on replacing staff who leave their jobs due to poor training, according to a new report.
Approximately 40 per cent of staff leave a firm within a year if they have received poor or no training, claims Scottish software developer start-up Create eLearning.
Create eLearning, which is based at Entrepreneurial Spark in Glasgow, has been researching this hole in UK profit. It has developed a software platform that allows training programmes to be distributed throughout an organisation.
The company has been picking up clients in Europe and the US since it started selling at the end of last year. The firm claims its software can save businesses between 35 per cent and 60 per cent on their training, recruitment and retraining costs.
Create eLearning was set up by entrepreneur Mark Taggart with £300,000 of seed capital after he sold his previous business, Patient-Reminders, to US firm Cenduit in 2013.
He realised that savings could be made by dropping the expense of face-to-face classes, and putting training resources onto computers, tablets and smartphones, which he says are more likely to be used and can be referred back to.
Taggart said: "Companies can spend millions on training courses that are seen as a jolly or weekend away, but information is actually absorbed better in bite sized chunks.
"I've spent more than ten years working with tech start-ups and helping them grow, including my own firm, and I always noticed the need for an efficient training platform."
Taggart believes his firm will become one of the leading workplace training providers in the world. Create eLearning has also just launched a new offline-compatible version of its platform, which means that courses can be accessed whilst commuting or in the field, without the need for WiFi access.
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