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As the former workforce starts to retire, 70% of service organizations will be burdened by the knowledge loss that comes along with it. Traditional methods of training rely on employees being highly precise and able to retain knowledge quickly with spot-on recognition. By integrating augmented reality training methods into the workforce, innovative and modern companies will have the puzzle pieces needed to accelerate learning curves, prevent knowledge loss, and solve the ever-growing problem of cost efficiency in traditional training methods.

1: Accelerated Learning Curves
The learning curve is the first factor to consider in creating a fast but effective training experience. The “showing” in addition to the “telling” nature of AR speeds time-to-productivity for new workers by helping them understand products, procedures, and workflows faster. These reimagined training methods have reduced new hire transition time by 50%, exemplifying the relatability to a younger and more tech savvy hiring class. 39% of respondents from a recent IDC survey said they’re currently using AR for employee training. In the coming years, this learning curve will become even more accelerated with new methodologies and harmonization throughout this innovative industry.

2: Knowledge Loss Prevention
Industrial companies stand to lose valuable expertise as older workers retire. Already, 67% of industrial companies reported themselves as concerned with losing their most knowledgeable workers due to retirement. AR can help quickly capture their knowledge and easily turn it into guidance for less experienced workers. Traditional training methods rely on heavy retention and require constant updating and revision. Through augmented reality knowledge capture companies can cut down on imperfections and errors during the on-boarding process, while putting the emphasis on how technology can successfully guide their processes to perfection.

3: More Cost Effective Than Traditional
Traditional training expenses include printed manuals and documentation, travel to offsite training facilities, and wages for trainees. AR reduces these training costs significantly by going virtual, and with more workforces being transitioned online everyday this switch will prove vital in the future growth plans for many businesses. The estimated total loss from ineffective training to a business is $13.5 million per 1,000 employees. Because AR drives a faster learning curve for trainees, companies are able to more quickly recoup time and money lost due to training delays.

Throughout all industries, training is a vital step of a new hiring process that incurs high prices and can cause delays in production. With AR integration, companies can skip those losses and head straight for success with an accelerated learning curve, higher retention, and lower costs.

To Learn more Download our E-Book on Workforce Training with Augmented Reality here.

Interested in talking with the Th3rd Coast team about the benefits of Industry 4.0? Get in Touch.