In today’s digital age, organizations lean heavily on eLearning to elevate performance and accommodate remote/hybrid working solutions. And it’s not going to stop anytime soon:
- Research notes that the global eLearning market was estimated at $332.6 billion in 2022. This amount is projected to reach $457.8 billion by 2026, which is a CAGR of 10.3%.
- 72% of businesses that leverage eLearning feel they earn a competitive advantage.
- 39% of millennials, the largest generation in the workforce, want to see more virtual education.
This rapid growth illustrates the significance of eLearning to organizations and staff members. If you’re looking to identify better ways to invest in your workforce, we encourage you to focus on the benefits of eLearning for employees.
The Advantages eLearning Offers for Employee Development
There are nine advantages eLearning offers for employee development. We invite you to use these insights to elevate the quality of your learning and development (L&D) program.
1. Learning Retention
Management can tailor instructional materials to fit various learning styles on eLearning platforms.
Consider the following:
- 95% of team members agree they retain more information from video versus reading a document.
- The majority of learners today are visual learners. Studies illustrate that they make up nearly 65% of the U.S. population.
Individuals today need visual and customized eLearning training methods rather than lengthy, static sessions. Some of the benefits of eLearning programs include the following:
- They can be personalized to fit everyone’s learning needs.
- They can overcome roadblocks faced by individual learners.
2. Convenience and Accessibility
Staff members benefit from eLearning’s convenience and accessibility for the reasons below:
- Team members don’t need to commute to and from a traditional meeting room and are free to learn in an environment of their choosing. Whether at home or in a coffee shop, team members can find a place to learn where they can focus and thrive.
- Team members can study and learn at their own pace. This individualized approach is something 58% of employees want. For example, participants can revisit videos offered through a learning management system (LMS) platform as needed to help them absorb information. New hires can also view those videos during on-the-job training. This is especially valuable since 49% of staff members like to learn at the “point of need.”
- eLearning technology makes it convenient for business leaders to share relevant training content. For example, if a team member is unable to attend a virtual training, an instructor can share video recordings, graphics, and discussion boards outside of the event. This makes it easy for the individual to still participate and engage with colleagues on learning topics.
3. Cost and Time Savings
The top reason individuals feel held back from learning is lack of time. The use of eLearning alleviates the issue.
Statistics show that eLearning is cost- and time-effective:
- eLearning requires 40 to 60% less time than a traditional classroom setting.
- Because team members can quickly apply their knowledge and skills, IBM reports that every dollar invested in online training results in $30 in productivity.
For a staff member, this
- Frees up more time for them to focus on other critical tasks.
- Helps them efficiently progress in their learning modules and roles.
4. Staff Retention
LinkedIn reports that 94% of staff members would stay with their employer longer if they invested in their careers. The investment provided through eLearning produces powerful results.
When staff members can decide when and where they want to learn, it provides the following benefits:
Management can easily roll out eLearning programs to as many team members as needed, even as the business grows. It won’t be necessary to seek a larger training space or hire more instructors because eLearning scales with the team.
6. Reports and Analytics
Online learning platforms offer analytic tools to help team members track their training progress. These tools keep team members accountable for reaching their learning goals.
Businesses can also use this data to assess the effectiveness of current learning and development programs (and what may need to change). Analytic tools help contribute to a more robust staff L&D program.
7. Feedback Loop
Businesses will find that eLearning can open up a feedback loop between staff and management/instructors. Instructors can examine completed tasks, offer feedback, and initiate productive conversations.
Every team member carries distinct strengths and weaknesses. Instructors can gain more insights into areas where an individual may need additional support and offer unique resources to supplement the team’s learning journey.
8. Consistency and Standardization
Teams can benefit from the consistency and standardization that eLearning promotes. With an effective eLearning course in place, each staff member will receive the following:
- High-quality training
- Relevant company-wide information
- Appropriate materials to ensure their success in the organization
With consistency and standardization, all workforce members will be on the same page and set up for success.
9. Energy Savings
The environment benefits from eLearning, and workforce members appreciate this. Less paper and travel and fewer training facilities help decrease energy consumption. Gallup reports that environmental sustainability is essential to millennials, and Studies illustrate that eLearning can reduce carbon emissions by 65%.
Visit CMOE’s eLearning Resources
Human capital is the key to sustainable growth. Invest in your workforce’s eLearning programs by learning about CMOE’s online courses.
From empathic leadership to diversity, equity, and inclusion essentials, our team offers the tools and resources you need to fuel eLearning in your organization.