Over the years, a rapid increase has been observed in Australia with regard to e-learning over the years and is still on the rise. A report by Ambient Insight, in 2013 states that the country has the fifth largest e-learning market in Asia, and is expected to reach the 5-billion dollar mark by the end of 2015. A further increase is anticipated in the coming years.
With this steadfast increase of e-learning in Australia, it may reach the highest level next only to the United States in this regard. This also shows the increased learning preferences of learners in the country. Most of the small businesses in Australia have been benefited through e-learning, as it helped learners retain information and also increased the company’s productivity.
Let us understand why e-learning became popular in Australia
- Increase of broadband Internet use, learner preferences, multimedia technologies, and support from government are the essential driving forces to adopt e-learning in the country.
- Blended learning brings in effective outcomes; also, it was rated as high-level learning in terms of satisfaction.
- Most government organizations, agriculture, mining and banking industries are benefited through e-learning.
- Compliance occupies a majority of the Australian e-learning market. This is because the country has most of the mining, construction, building materials, and energy firms.
- Moodle is the open source software in Australia and is highly cost effective.
Let us look into the organizational objectives and how e-learning addresses the same:
1. Increased productivity: One of the most important objectives is to increase sales and productivity of the organization that results in increase in revenue while limiting expenses. This enables firms to have a competitive edge in the market. Let us take a look into some statistics that show how e-learning increases organizational productivity.
- IBM states that, for every $1 spent by the company on e-learning tools and strategies, it receives $30 worth of productivity.
- Business Impact of Next-Generation e-learning states that, as of 2011, companies that utilize e-learning generated 26% revenue higher per each employee.
- The Ambient Insight report states that, 42% of leading learning companies say online learning has led to an increase in revenue and 56% state that it has improved productivity.
2. Improved customer satisfaction, service, and retention: When customers are confident about a particular product, there are chances that they may buy the product or service. In this case, the customer should be well educated about the features and benefits of the product.
- A study was conducted on more than 1,200 retail clients of Goldman Sachs JB Were Pty Ltd., which is a financial services company in Melbourne, Australia. The collected data were used to examine the multifaceted influence of training on the link between service quality and trust. The report states that there are considerable advantages as a result of improving customers’ service knowledge. This can be very well done with the help of online training.
Product training through e-learning helps customers to have a proper understanding about the product and have a wider acceptance.
3. Compliance training: Every company should follow the set of rules and laws that govern their industry. It is very essential that employees should be trained on these laws and procedures in order to be clear about their legal obligations at work. Compliance training helps to have mutual welfare and safety within the organization. So, providing training to the global audience cost effectively may be challenging. Also, e-learning reaches a large number of audiences in a shorter time span. Courses may be hosted on LMS and may be also accessible from anywhere. Online courses may be translated and localized in order to suit the learning needs of the target audience.
4. Quick deployment of information systems: As market trends constantly change, companies should flexibly adapt to these changing conditions. This has paved the way for organizations to initiate information systems that support businesses and their frequent requirements. In this regard, e-learning helps initiate business processes in a cost-effective manner.
- A survey by Towards Maturity shows that, 72% of the 600 companies surveyed stated that learning technologies such as e-learning and mobile learning helped their businesses adapt to quicker changes, and productivity increased to about 11% on the whole.
5. E-learning to train the global audience: Addressing training needs to the global workforce is very important. Online training helps present training material in the native language to the global workforce.
6. Training global audience with just-in-time approach: With high-level competition in today’s business world, it is very essential that we have immediate access to information as and when needed. With the advent of multiple devices like smartphones, PCs, iPads, and so on, just-in-time information may be delivered in smaller learning nuggets that may be accessed by the learners through their personal devices. This helps learners to learn while they are on the move and retain information longer. Also, it is a proven fact that e-learning increases knowledge retention by 25%-60%
So, these are some of the essential elements on how e-learning helps Australian organizations reach their training goals. With various advantages that e-learning gives to companies, e-learning will soon be on the rise in Australia and shortly the country will stand next to the United States with regard to online learning.