Do you know Corporate training alone is a $200 billion industry from which eLearning represents $56.2 billion of and will grow into a $107 billion market by 2015? (GIA – Global Industry Analysts). Do you know Corporations save between 50% and 70% when they replace instructor-based training with eLearning? (IOMA 2002).
Here is a short video which throws more light on the evolution of eLearning.
It is clear that there is a revolution occurring, and e-Learning is in the king’s place leading the charge. Let’s see why this form of training is taking a plunge.
Traditionally, the cost spent on trainings is very expensive. However, developing an eLearning course is also expensive initially but a lot of cost and time can be saved by re-using the course and delivering it to globally situated learners at any time. According to Hall (1992) it is shown that the cost spent on developing an eLearning course is less than the cost of creating a custom classroom trainings.
Learn at your own pace
In the classroom training, we have different levels of learners, some may understand quickly what the instructor is telling and few may not catch the point immediately and fails to learn the concept. e-Learning gives control to learners to take the course at their own pace wherever and whenever they want also he can skip ahead return backward or stop the lesson and browse for job aids to get the complete understanding on the concept.
e-Learning Minimizes Time Away from Work. Fletcher (1990) director of capital training have shown that eLearning has yielded time savings of 35-45% over traditional classroom instruction. Saving time will have direct impact on return on investment by reducing the money spent not only on the trainings but also in opportunity costs.
Reduces travel cost
As organizations are becoming global, to train the employees, they have to spend a lot of money on traveling and accommodation. This cost can be reduced through eLearning. Learners take part in virtual trainings using computers, iPads, and smartphones which also makes group work possible through discussion forums. All they need is an Internet connection to access the training at their own pace.
According to Hall (1997), the cost spent on travel and entertainment for trainings can be reduced at least by 50% and according to Hemphill (1997) if it is properly done it can be reduced by 80%.
In case of traditional classroom trainings, the trainers vary the way they present the content. Also sometimes they may focus only on a few topics and when they present the same to the other team it may vary. But, if an eLearning course is developed, the trainers make sure that the presentation is well prepared so that it is not changed later. This ensures that each learner gets the same material, no matter when they take the course. This leads to consistency in the delivery of material.
Adams (1992) found that an average variance of elearning trainings is to be 40% less than the traditional classroom training.
Therefore, I can say eLearning will continue to be in the king’s seat for providing continuous solid training. There is no hesitation in saying that it will covet a dominant position in the future. What do you think?