eLearning for business – 14 important statistics [Infographic]
What is eLearning
eLearning is the means of acquiring skills using online learning platforms. These platforms offer various types of training usually with videos, quizzes, certifications, games and other means of interactivity built in. The best eLearning platforms allow you to track your progress, learn complimentary skills, and are easy to use.
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The Era of eLearning
The rapid rise of digital is making a tremendous impact on the world of work, urging organizations to incorporate eLearning into their development programs. Brands that don’t embrace change and build learning into their DNA will fade as others grow to take their place. Companies need to use eLearning to push innovation and test and play with new technology as it arrives. The importance of companies reskilling their employees is now a hot topic because data shows that workers need it and the companies that don’t will suffer. According to a recent McKinsey Global Institute report, Jobs lost, jobs gained: Workforce transitions in a time of automation, 375 million workers or more may need to switch occupational categories as digitization, automation, and advances in artificial intelligence disrupt the world of work.
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Various companies – from huge corporations to newbie startups, have discovered the benefits of eLearning and are moving from old-school face-to-face training to online educational platforms.
The Benefits of Digital Learning Platforms
eLearning has proved to be an affordable, convenient, effective and flexible option for providing competent professional training. Best of all, online training is a solution that benefits both employers and employees. It’s a true win-win.
When a company uses interactive training tools, it boosts employee engagement and satisfaction, creating a more positive workplace environment. A satisfied and involved employee is likely to stay longer in the company and be more productive.
Besides, today’s workers want more than a paycheck from an organization. The job seekers want to work for companies that care about their development and offer them effective solutions to learn new skills. Companies are more likely to attract and keep good employees if it can offer advanced development opportunities.
Need more proof?
Check out these important statistics that reveal the power of eLearning and its importance in today’s corporate environment.
- The importance of employee training for organization:
- 40% of employees with poor training leave their jobs within the first year
- Companies that invest in employee training enjoy 24% higher profit margin versus companies who don’t
- Over $500 billion is lost every year due to employee disengagement;
- Only 13% of employees worldwide are engaged, meaning they can leave the moment a better job offering comes up
- 76% of employees are looking for career growth opportunities
- 87% of millennials claim that professional development and career growth are very important
- 72% of employees even think of financially contributing to their own training
- Training and development from employees perspective:
- 68% employees prefer to learn at work;
- 58% employees prefer to learn at their own pace;
- 49% employees prefer to learn at the point of need;
- Yet, most employees can only spare about 1% of their weekly time on professional development, which is about 24 minutes a week.
- E-learning is the best option for organizations and employees
- eLearning requires 40-60% LESS time spent, compared to classroom instruction;
- eLearning retention rates can be 25-60% higher than face-to-face retention rates – which typically range from 8-10%
- eLearning participants learn 5x more in the same amount of time, compared to using physical manuals, books, and classroom education.
- More than 70% of all training at Fortune 500 companies is delivered electronically
- eLearning boosts employee engagement by 18%
Here are the stats in infographic form.
The benefits of eLearning for organizations are more than enough to convince any company to take its staff training online. eLearning is a priority for businesses that look forward to improving employees’ skills and the economic benefits they can generate from that. A company without an eLearning option will find it harder to remain competitive and hit business goals. If you need help building learning into your business check out our enterprise learning options.