6 Reasons why companies should invest in eLearning
Elearning in business is a growing trend nowadays. Thanks to the Internet and new technologies, companies in all segments achieve great results, reducing costs and improving the performance of their training programs.
Undoubtedly, the pandemic had a driving role in this scenario, doubling the number of workers who sought online courses as a way to improve their skills and stay relevant.
Importance of eLearning in Business
Education is critical to growth, and online education is transforming business like never before. The relationship between learning and work is becoming stronger, as the two become part of the same integrated ecosystem.
Providing education is transformative for a company, as well as for its employees and customers.
Companies that invest in eLearning have revenue 218% higherand and 24% better profit margins, making clear their advantage in relation to those that do not yet invest in training.
In 2025, the global e-learning market is expected to reach US $ 325 billion and large institutions have already started to move to take advantage of this growth scenario.
There is a change in the old school learning management systems, which have traditionally been seen as a compliance tool for employees to comply with the rules.
Today, online education has become so engaging that people want to learn, develop more skills and advance their careers.
IBM, for example, found that for every dollar spent on online education, it meant a $ 30 increase in productivity.
“[In] the early stages of learning management, systems have received a bad reputation for being boring, non-engaging and a “ must have”. In the new digital world of Netflix and YouTube, you can compulsively watch almost anything and now we hope that online training and learning is moving in that direction. Becoming so engaging that you want to learn more, ”says JW Marshall, B2B eLearning consultant.
Virtual learning helps people to learn without being “stuck” to a schedule. The big catch is that companies provide the platform with all learning content for their employees, so that they have easy access at the time they have.
Unlocking the potential of online learning
Science and creativity are vital in delivering content for eLearning systems. “Many companies have great ideas, but they don’t know how to create engaging content and layouts in sequences with video, text and reviews,” says Marshall.
Today is the golden age of online education. The eLearning industry has grown by 900% since 2000. Learning has evolved from simple text-based documents, to PDFs, to powerpoints to what we have today – video that is not only animated, but also 3D and interactive.
Historically, higher education was the first to adopt online learning, with technology slowly reaching high schools, elementary schools, and finally, companies. But in the past two years, this has been accelerating, with companies starting to innovate and prioritize learning.
Why? Digital natives have entered the workforce and the status quo is no longer good enough. Today, almost 80% of American companies are using eLearning.
Being able to offer content to guide employees and extend learning beyond the core of a business helps to build an learning culture incredibly powerful. This is an effective way to get workers who want to change, evolve and progress. But we’re not just talking about employees.
“Customer training is becoming increasingly important. To ensure that your customers know everything they need to know about your products and services, you continue to train them as your products evolve, building a relationship so that they stay with you, ”adds Marshall.
6 reasons to invest in eLearning on companies
Online learning is gaining huge popularity in the corporate world. 77% of American companies offer online training as a way to improve the professional development of their employees.
This is an upward trend, so if you’re still not convinced, check out six reasons why your business needs to invest in eLearning.
1. Time savings
Online training requires 40 to 60% less time than classroom training.
We are talking about a huge time savings that has quite obvious reasons:
- Students don’t have to waste time getting around.
- Individualized learning and mobile learning allow students to choose the most suitable time and place for them.
- Microlearning, which divides the material into small pieces, allows students to spend just 5 minutes per session.
In addition to saving your employees’ time, this flexibility makes learning more enjoyable and less stressful.
2. Cost reduction
One of the most significant advantages of online corporate training is that it reduces training costs. There is no longer a need for printed materials or even face-to-face facilitators, since all the information the employee will need can be found on the elearning platform.
Although there may be an initial investment involved, the costs of maintaining an online training platform are minimal when compared to the infrastructure required for face-to-face teaching.
As eLearning becomes more popular, the benefits of cloud based Learning Management Systems (LMS) become prevalent for organizations that want to offer flexible and cost-effective training methods.
3. Agility in learning
Research shows that employees are able to study more efficiently online than in a traditional classroom.
This advantage is attributed to several engaging strategies. Things like education and entertainment, gamification and micro-learning, have proven to increase the intensity of learning.
Online education also offers your employees the chance to access additional resources and materials quickly. By including links to articles, webinars and videos, you are providing your team with references and information that they can use to expand their knowledge base and adjust their skills.
4. Greater knowledge retention
One of the biggest challenges for teaching professionals is the so-called Forgetting Curve. This term describes our tendency to forget up to 90% of what we learn days after class.
The only way to fight this is with educational reinforcement. We need to refresh our memory at regular intervals with supporting materials and assessments.
Elearning makes this job a lot easier. There are a number of reinforcement strategies that help students retain more knowledge:
- Quick access to content
- Possibility to repeat classes
- Periodic evaluations
5. Increased productivity
Since the goal is not only to retain knowledge, but also to apply it at work, improving professional performance should be the result of any successful training program.
Employees who are better trained, have more knowledge about products and services and are able to support their co-workers. Thus, they are more efficient and help to improve the image and results of your company.
Of course, this does not mean that any online course can bring results like that, just because it is digital.
To be so impactful, it is important that your online training program has some fundamental characteristics, such as:
- The learning content must be personalized and relevant to the job.
- Employees should receive training tools, such as action plans, models, manuals, checklists, among others, that can be applied directly to the work.
6. Reducing turnover
Employees also understand the importance of good corporate training and the role it plays in their professional advancement.
Happy and well-informed employees are those who are most likely to remain loyal to your organization. By giving them access to 24-hour online training and individualized learning modules, they can promote their professional goals and feel motivated to improve.
They can also point out areas in which they need to evolve and discover their main strengths, improving their performance.
Fact: People are less likely to quit if they feel valued and have the potential to grow in their workplace.
Elearning to drive your business growth
There are many ways your business can benefit from online learning, when it is done the right way.
As a result of good training, your employees become better at what they do and start to feel more satisfied, which leads to the overall success of your organization.
For this to happen, your training must be in line with the company’s objectives. The planning of each educational initiative must begin with an agreement on the desired business results that it should bring.
So, it’s not a question of: “Why should you invest in eLearning?”. It is more a question of how to do it the right way, so that your company can take advantage of the full potential of online education.
This is much easier to achieve with the help of a well-structured LMS platform, which provides the necessary tools for virtual learning and to monitor the performance of students and the course.
Complete eLearning platform, Coursify.me allows you to manage your courses and students, monitoring their progress and performance in real time.
Present in more than 60 countries, is the perfect solution for hosting online training.
There are three plan options for you to decide which one best suits your needs. Developed for companies, with the Business Plan you customize your own domain and remove the Coursify.me brand from all of your pages and courses.
This means that you don’t even have to invest in building your own distance learning platform. The Coursify.me is ready for you to enter your courses and create a fully customized page for your business.
To learn more, visit our website, test the platform and learn why we are the best option for you.