The online training medium is used extensively by companies worldwide. A study by Global Industry Analysts Inc. reported that the global market for e-learning solutions would reach $107 billion, by 2015, registering a near 100% growth over the previous year. Why is e-learning immensely popular with the L&D community? How does it help organizations impart training better and meet their organizational goals? Let us see.
E-learning is highly flexible and helps deliver consistent training
Online courses can be accessed anytime, anywhere. This enables the busy learner to draw his own, convenient learning paths without disrupting his work schedule. Furthermore, as e-learning is an instructor-independent learning format, it is possible to impart high quality, consistent training to learners throughout the world.
E-learning is cost-effective
In an economy that is slowly recovering from a huge recession, companies need to ensure that they get the best value for their training dollar. Companies can cut their training expenditures considerably using e-learning. Studies reveal that organizations using the online learning medium were able to reduce workplace training costs by at least 50%.
E-learning boosts productivity in a big way
According to a report released by IBM, companies who utilize e-learning tools and strategies have the potential to boost their productivity by up to 50%. For every $1 that company spends, it’s estimated that it can receive $30 worth of productivity. Indeed, the online training medium is ideal to impart training.
E-learning is eco-friendly
The advent of e-learning has eliminated the need for learners and their trainers to travel in order to attend training programs. This goes a long way in reducing CO2 emissions. A study by the Open University at Britain showed that e-learning helped reduce the CO2 emissions per learner by about 85%, and with millions of learners using the online medium, the reduction in CO2 emissions is very significant.
E-learning enables quick delivery of training
The online medium can be used to deliver highly effective instruction in quick time. Research shows that companies using e-learning were able to reduce instruction delivery time by at least 60%. This has become possible with the advent of rapid authoring tools. Using this software, a 60 minute online learning module can be developed in 2-3 weeks.
Thus, we see that e-learning helps companies to meet their training goals efficiently, and thereby, enhances their productivity. Indeed, e-learning is a boon to the corporate world. Isn’t it?