$107 billion – that is the estimated number that the global eLearning industry reached in 2015. [i] Three years later this number has continued to grow, as more and more companies are navigating towards online learning, as opposed to relying on the typical classroom environment, and by 2020, 98% of companies plan to use eLearning. [ii] This begs the question of why eLearning is becoming so popular and prevalent through numerous industries.
With eLearning, you can take courses and receive training anytime, anywhere. This flexibility provides users the opportunity to learn and focus at a time that works best for them. Rather than being stuck inside a classroom for a few hours a day, the user can fit in the class when time provides. In addition, users can work through the training course material at their own pace instead of following a trainer’s instructions and pace of training. The Research Institute of America has found that online courses have a direct correlation with better user retention, as user retention rates have increased from 25% to 60%. [iii]
From webinars to gamification, digital eLearning solutions rise in popularity has brought successful growth to many organizations. Studies have shown that employees who work with eLearning materials have increased business efficiency by 50% [iv], and 41.7% of global fortune companies have already put some form of eLearning to use to train their employees. The ease of access and influx of millennials occupying managerial positions as baby boomers continue to retire, [v] proves that on-demand eLearning training programs are here to stay. Not to mention that eLearning has the advantage of being more cost-effective than traditional classroom training.
This rise in online learning correlates with a younger generation of employees joining the workforce, but also due to the fact that it is in the makeup of the “modern learner.” Check out this infographic below on some more interesting facts regarding today’s employees.