12 facts you should know about e-learning
The festive season is upon us – that time of year when your favourite shows are interrupted with elaborate Christmas ads and your loved one starts dropping not-so-subtle hints about which gift to get them.
The e-learning industry has a lot to be thankful for this Christmas. The sector continues to grow as new developments enable further creation of revolutionary training programmes. As the countdown to Christmas begins, here are 12 interesting facts and stats about e-learning.
1. Modern learning
E-learning is a very modern concept; in fact the term was only coined in 1998. Despite only being 16 years old, this new industry is growing rapidly. Gone are the days when a company had to send new employees on traditional training courses. Now, thanks to advancements in technology, e-learning programmes allow you to learn whenever and wherever you want.
2. Tool for success
Despite being a relatively new way to train your staff, e-learning has developed into one of the main training tools of many of the world’s largest and richest companies. According to Elearning! magazine, 41.7% of global Fortune 500 companies now use some form of e-learning (i).
3. Increased productivity
By helping your employees learn more effectively, e-learning could directly benefit your companies output. According to a report by IBM, businesses that use e-learning tools and programmes have the potential to boost productivity by up to 50% (ii).
4. Green training
These days it’s important for companies to strive to become eco-friendly and limit their environmental footprint. A study by The Open University found e-learning consumes 90% less energy and produces 85% less C02 emissions than traditional classes (iii). This is because e-learning programmes can be accessed anywhere, eliminating the need for learners to travel to complete their training.
5. Information retention
An important part of any training is how learners retain the information and apply it to real-life situations. According to a study conducted by The Research Institute of America, e-learning has the power to increase information retention rates by up to 60% (iv).
6. Playing the game
The term ‘gamification’ is an ever-expanding, e-learning platform with an exciting future. Gamification refers to the method of using games to engage a learner and support their training by linking key gaming features with real-life work situations.
7. Increased revenue
E-learning can help your staff unlock their true potential and offers support even when their official training period has ended. This is why companies who provide e-learning and on-the-job training programmes could generate around 26% more revenue per employee (ii).
8. Keep connected
To give your business the competitive edge, it’s essential to keep in touch with happenings in your industry. E-learning could help you keep ahead of competitors and emerge as a leader in your field. In fact, 72% of companies stated that e-learning helps them keep informed with industry developments (ii).
9. Expected growth
In 2011, an estimated $35.6 billion was spent on e-learning across the globe. Today, e-learning has developed into a $55.2 billion dollar industry and that is set to double by 2015. The expected growth rate between the years of 2013 and 2017 is a staggering 23% (v).
10. Happy staff
No company benefits from having a high employee turnover as it costs both money and time to hire new staff. Around a quarter of employees who leave their jobs give the lack of training opportunities as one of the main reasons (ii). E-learning helps satisfy an employee’s need for advancement and sense of achievement, which could allow your company to retain more skilled employees.
11. Industry leadership
Every business strives to become a leader in its field and a solid training platform for employees could help you achieve this. Companies are 46% more likely to be an industry leader and 18% more likely to be a market share leader with a developed e-learning strategy (vi).
12. Cost effectiveness
Traditional training methods often involve a lot of extra costs, such as venue hire, transport and food for all your employees. E-learning programmes can be taken anywhere at any time, meaning your staff can even learn at home. Companies could save up to 70% by replacing traditional training with e-learning (vii).
E-learning has come a long way in a short space of time and the industry shows no sign of slowing down. Here’s to an exciting and busy 2015!
Happy Christmas from the dreamm team.