What Is eLearning?: 4 Reasons to Consider Online Training
Recent studies show that corporations now report that eLearning is the second most valuable training method that they use. But, what exactly is eLearning? And how can it make a positive impact on your organization? Simply put, eLearning is an educational course that is published online through a learning management system (LMS). It is a rapidly growing industry that has become the future of learning and development, and has grown by over 900% since 2000.
According to Instructure, “eLearning can help learners complete education and training objectives with greater ease and flexibility than they can with traditional classroom-based learning. E-learning courses can use a variety of techniques, including audio and video recordings, presentations, quizzes, surveys, games, discussion groups, and more.”
A Better Leader offers leadership training in the form of eLearning to help you create leaders in your workplace who are educated, engaged, and connected with the rest of your workforce. Our training programs are specifically designed to be flexible and stand-alone or to be able to work within the training systems you may already have in place. We believe that eLearning can be the change your organization needs to provide your leaders with the skills they need and to help you to become an employer of choice. Of course, we understand that this may not be the solution for everyone. Still, we feel it’s important to share the benefits of eLearning, so you have an understanding of whether not it’s beneficial to your workplace.
We’ve discussed the differences between online eLearning and in-person training. We’ve also shared a review of some of the top platforms for online training for your leaders. Now, we’ll discuss how eLearning can be beneficial to your workplace and how it can help you create a more prosperous and productive culture in your organization.
Benefits of eLearning
eLearning is available any time, anywhere. Users can access their training and development courses on their schedule, from a smartphone, tablet, or wherever they can access the internet. Because online learning is instantly accessible, it typically requires 40%-60% less employee time than an in-person or classroom setting.
Higher Retention Rates
eLearning has much higher learning retention rates than face-to-face training, with 25%-60% greater retention. In contrast, in-person learning retention rates have shown to be around eight to ten percent. Online learning platforms allow users to spend more time absorbing the information at their own pace, and the content is quickly and easily revisited. An employee can complete things like interactive quizzes more than once if they need to review or repeat a course.
eLearning saves money and resources in terms of finances, time, and even learning materials. Employees do not have to travel to a seminar to absorb the information. They can complete courses without taking time off to attend outside training. Furthermore, IBM saved $200 million when they made the switch to online learning. Without the costs associated with travel, such as a hotel room, fuel costs, or the time taken away from employees who need to be out of the office to attend in-person seminars, online learning just makes more financial sense.
Increased Employee Engagement
The Molly Fletcher Company shared that companies that are actively using online learning courses achieve an 18% increase in employee engagement. Consider the 2018 workplace learning report from LinkedIn that found over 90% of employees would stay in their current position if their organization invested in the employees’ career development. When employees have more control of their learning and development, they are more likely to remain engaged and motivated to contribute to the overall company culture.
Is eLearning Right For Your Workplace?
Sometimes, companies and organizations may invest in leadership training and do not see a return on that investment. Often, this is a result of the implementation of the training, rather than the content itself. If there is no system in place to measure the return of investment, or ROI, there is no way to track results. A 2018 study from Harvard Business Review showed that the way leadership training is presented could significantly impact not only the interest it garners for those who are completing it but the impact of the education itself. For example, rather than stating that the goal of eLearning is to “become a better leader,” framing the goal as an opportunity to learn leadership skills increased the level of engagement and even helped with the retention of information.
Clearly, eLearning provides many benefits to employees and employers alike. It can help boost the retention rate at which your employees are absorbing knowledge, cut costs in terms of spending, and increase employee engagement and boost workplace culture. In fact, there is no question whether eLearning could be beneficial to your organization. It is the future of learning and development. Research and Markets forecasts show that eLearning will grow to $325 Billion by 2025.
So, what does all of this mean? You can’t afford not to invest in online learning. If you need a cost-effective answer to creating leaders who engage and inspire employees at all levels, look no further. A Better Leader would be happy to create a solution that works for your organization.