In the business world, time is money. Saving time means reducing costs and increasing efficiency. When organizations streamline processes and cut down on time-consuming administrative tasks, they can allocate more resources to revenue-generating activities. Quick adaptations to market changes, improved employee productivity, and enhanced customer satisfaction all contribute to the bottom line.
It is evident that digital credentials offer businesses a competitive edge in various ways. One of their most fundamental benefits, crucial to any organization, is their ability to save valuable time and money. In this post, we’ll explore how digital credentials can help your business achieve significant time savings and cost-efficiency. Here's how:
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Automated Issuance and Tracking
With digital credentials, the process of issuing certificates becomes automated. Instead of manually preparing and distributing paper certificates, HR or training departments can use digital platforms to generate and distribute badges instantly upon completion of training or achievement of milestones. This automation saves considerable time in administrative tasks, allowing HR personnel to focus on more strategic initiatives.
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Real-Time Updates and Renewals
Digital credentials can be updated or renewed in real-time as employees complete additional training or obtain new certifications. They are particularly beneficial in environments where the required skill sets evolve rapidly due to technological advancements. This not only saves time but also enhances the organization’s ability to remain agile and competitive in a fast-changing landscape.
With Credly, organizations can also include expiration dates for their digital badges, ensuring that employees are up-to-date with their learning. HR departments can further ensure compliance with industry standards without delays.
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Integration with Learning Management Systems (LMS)
Many organizations use Learning Management Systems (LMS) to deliver and track employee training. Digital credentials can seamlessly integrate with LMS platforms, allowing for automated issuance of badges upon course completion. This integration streamlines the entire training and certification process, from enrollment to credentialing, saving time and reducing administrative overhead. [Discover the integrations available on Credly]
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Efficient Verification and Auditing
When it comes to verifying employees' credentials for internal purposes such as project assignments or promotions, digital badges provide a quick and reliable verification method. Managers and HR personnel can verify the authenticity of an employee's qualifications with a few clicks, eliminating the need for manual checks or delays in processing. [Learn more about the limitations of inferred skills in today’s dynamic landscape in our blog]
Long-Term Cost Savings in Hiring and Recruitment
In the rapidly evolving business landscape, digital badges are not just a tool for saving administrative time; they are a strategic investment with profound long-term benefits for companies. These credentials streamline various processes from hiring to training and development, offering a clear and verifiable record of skills and achievements.
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Save Time Recruiting
Recruiting talent takes time. The Society for Human Resource Management’s Human Capital Benchmarking Report states that the average time it takes to fill a given position is 42 days. For white-collar jobs in areas like engineering, finance, and marketing it’s even longer. The average time-to-hire for white-collar positions is 68 business days, according to a Gartner study Recruiting Slowdown Hurts the Bottom Line. Digital credentials help hiring managers and HR leaders quickly identify internal and external talent, and decrease the amount of time spent on recruiting.
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Streamlined Training and Development
Wouldn’t it be great to quickly see a snapshot of an employee’s knowledge, skills and abilities, and areas needed for additional training and development? Digital credentials make that a time-saving reality. Skills-based hiring can reduce time-to-train by 50%, and reduce turnover from 25-75%, enabling companies to focus on hitting goals instead of dealing with employee churn.
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Rapid Deployment of New Initiatives
As the pace of technology evolves faster than ever, so does the need for efficiently identifying talent to ramp up new initiatives. Digital credentials enable companies to identify talent pools by competency, location, or level of expertise using heat maps. “Badges allow you to quickly create heat maps of your talent and the skills tag level, providing insight into your talent pool that you cannot easily achieve any other way,” says David Leaser, senior manager of innovation for IBM’s Training & Skills organization in a blogpost for the Association of Talent Development.
To learn more about how digital credentials will save your organization time and money, schedule a chat with our team now!