The corporate wallet can be tight at times, with investors looking to put their dollars into innovation that really counts. But it can be tough to know which of the latest developments is a total fad, and which will actually pay off over time. Luckily, corporate investors are looking toward eLearning to lead them into the next generation of workplace and development. By examining some of the numbers and hard facts about how eLearning is changing the game, you’ll have the same information as corporate investors and L&D professions. The verdict is in: eLearning is worth every cent.
There’s a reason eLearning makes such an impact in the workplace. It’s the fact that eLearning isn’t just about delivery methods for the same tired, old subject matter. Rather, it’s centered on innovating the actual subject matter itself. Through the development of new learning methods, eLearning professionals are able to combine learners’ learning styles, personalities and even social leanings into consideration to create the most comprehensive and engaging training materials possible. That way, investors aren’t just allocating wallet share to the same training methods that have failed before, but acting as backers for innovation, creativity and productivity in the L&D sphere.
Consider some of the following facts about eLearning investment in the U.S. and Europe.
- The U.S. is seven times more likely to invest in eLearning that Euro markets. When it comes to eLearning, the U.S. has a clear advantage over other markets, offering a unique opportunity to become a clear leader in training techniques, as well as learning and talent development. Make no mistake: As the efficiency of eLearning is demonstrated, other markets will be eager to invest and implement similar programs all over the world.
- Investment in eLearning is increasing 48 percent each year. Corporate investment into traditional training methods – think instructor-based or conference training – has been stagnant for the last six years, while eLearning investment has enjoyed steady growth. With further innovation and better delivery methods, that investment will only continue to grow over time.
- eLearning saves corporate dollars and time. There’s a reason investors are scrambling to purchase a share in eLearning: The massive potential for savings. eLearning costs 50 percent less when compared to traditional training methods, including a 60 percent decrease in instruction time and a whopping 90 percent energy savings.
- eLearning offers a solid ROI. While it’s often difficult to calculate the ROI for eLearning and training, one industry estimate is that eLearning can boost productivity by 50 percent and offers a 30 percent return on investment via productivity and efficiency. Hey, we like those odds.
Calculating the impact that eLearning can have on your organization can be notoriously difficult, only because the reach of an effective and innovative training program can be hard to estimate. After all, it’s almost impossible to measure learner engagement, retention and enthusiasm.
Still, the numbers don’t lie. Corporate investors are acknowledging eLearning as a training method worthy of the almighty dollar. Follow suit and you might find yourself keeping more in your corporate wallet – all while getting more from your training programs.