A study by the American Society for Training and Development (ASTD) involving 2500 firms revealed that comprehensive training resulted in 218% higher revenue savings per employee. More importantly, the question is not about if training works. It is about how we can improve training. For example, how do we make training more efficient, faster, cost-conscious, engaging, concise, and so on?
And it is for these reasons that organizations have turned to eLearning. If you think about it, eLearning does all of that is needed to improve training and is exponentially better at providing context and reducing costs. Not to forget that eLearning also brings training to the masses.
And if we talk about the advantages of eLearning, we are looking at increased productivity, employee engagement, fewer human errors, and greater clarity. Needless to say, the advent and results of using technology is so superior that most organizations use eLearning as a part of their recruitment, employee analyses, skill building, and staff training functions.
However, this blog is for those out there who are yet to embrace eLearning.
This Blog Gives You Only 4 Universal Reasons for Why eLearning is Important
Explosion of Technology
In 2008, iPhone sold approximately 3 million devices globally. In 2013, they sold more that 400 million devices and 1 billion were shipped to customers across the globe.
Let’s talk about cloud computing. In 2011, the cloud computing sector grew from $41 billion to $241 billion in 2020. Cloud computing is adamant on changing the way technology works. Surveys from Deloitte and MIT indicate that more that 90% of firms will be digitally transformed by cloud computing in the next few years. Moreover, most humans would spend a maximum percentage of their time online than offline. This basically means that with the availability of technology and accessibility, most humans will be far more accessible online. And if you want training to reach them, it has to go online as well.
And the best part about all of this is that technology will only make things better for training. Like reducing the time and costs to train. Looks like a win-win scenario!
eLearning is Important in the Changing of Workplace Demography
The global workforce is diverse in terms of age groups. But a shift is about to happen. By 2025, 75% of the total workforce will comprise of millennials. However, one thing to note is that the baby boomers are delaying their retirement dates because of the financial and economic constraints that they face. This has resulted in a workforce that is still quite evenly spread across two distinctive age groups.
This results in a mix of experiences and knowledge as well. As a result, we are facing communication, collaborations, and skill gaps which require efficient, quick, and personalized approaches. As a result, it would not make sense for an organization to host multiple training rounds for people with varying age groups. Instead, designing an eLearning course which takes into account the needs of all age groups is a much better option.
Rising Employee Expectations
Employee expectations are also on the rise. Moreover, market competition is driving employee expectations. Capable and talented employees expect their organizations to put in more effort towards nurturing them or they are willing to find other employers who are willing to do so. They are demanding for enablement, value engagement, and the opportunity to perform. In return, they seek ammunition from the organization to perform. And the best kind of ammunition for your employees is training and development. Training and development is best as eLearning.
A Scarcity of Specialized Skills
Most business agree that in a challenging business environment, they need the organization to build a capacity for taking on added jobs, advanced projects, and forward-moving business partnerships. This means recruiting the right people, training them in the skills that they lack, motivating them to perform, and keeping them engaged. Moreover, they need to learn and apply these new skills on a regular basis. That is the only way an organization can expect a year-on-year growth.
For example, skills in cloud computing, data science, software engineers, advanced manufacturing, automation, are some of the most wanted skills. And since these are only now taking precedence, most organizations will find that they do not yet have the expertise in these domains.
As a result, organizations are struggling to meet demand. The projections indicate that by , industries across the globe will face an acute shortage of skilled and educated workers.
Why? Because our modern training and development curriculums right through college has not yet accounted for this shift in demand for specific skills.
Clearly, an organization capable of employing, retaining, and developing a high-performing workforce, with such specialized skills will outperform its competitors – and isn’t that where eLearning should play a starring role?
How Can We Help You?
Globally organizations of all sizes now believe that retention and engagement of employees are among their top priorities. Employers worldwide are doing everything they can to motivate employees to perform to the best of their capability. Most managers know that employees want to learn and they want to widen their skillsets. The business case is strong, the enabling factors are in place, and the benefits are there to be had – the question is, when will your organization adopt eLearning?
Remember that eLearning is Important