Is online learning really valuable to companies? That’s a question most organizational leaders need an answer to before they decide to purchase and implement a learning management system or other online learning tools.
The fact is that online learning has incredible business value. It can provide a competitive advantage and reduce training costs. The following statistics prove that online learning is well worth investing in.
“More than 70% of companies believe that online learning is essential to their institution’s long-term strategy.” -- Digital Marketing Strategy1
3 Statistics Showing the Value of Online Learning
1. Online learning lowers a business’ bottom line and increases revenue.
At least 42 percent of companies claim eLearning has increased their revenue, according to KZO Innovations.2 Here are some other statistics that indicate online learning saves companies money:
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Every dollar that is invested in eLearning results in $30 of increased productivity.3
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Revenue generated per employee is 26 percent more for organizations that offer technology-based training such as eLearning.4
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IBM saved $200 million after making the switch from in-person training to online learning.
Every company has a training budget it must adhere to. Many organizational leaders are finding that online learning is the ticket to more effective employee training that is cheaper than traditional alternatives.
Could your company benefit from increased productivity, greater revenue per employee, and cost saving on training?
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2. There is a demand for online continuing education.5
In the workplace, employees want professional training and opportunities for growth. They understanding that workplace training adds to their worth as employees and increases their job satisfaction.6
“With 3.3 million web searches for online learning and 69% of those searching educated to degree level, the demand for professional education is obvious,” according to the infographic Insights into Global Demand for Online Education.7
By 2020, nearly all employers will have implemented online learning to meet employees’ continuing education needs and desire for eLearning.8 As the use of mobile devices increases, so will the demand for mobile learning in corporate training, as well as general online learning. Employers are recognizing that eLearning is the future of corporate training and are complying with their employees’ wishes for on-demand, online professional training.
3. Businesses are moving training online
“Due to the pace of digital (technology), technologies and channels change at an alarming rate and in order to keep up employees’ need to continuously learn to stay ahead. For many organizations, online learning provides a flexible and simple way to up-skill staff in a scalable way,” stated a contributor to Digital Marketing Institute.9
On a global scale, businesses and organizations are moving training online to make it more accessible to and convenient for learners. Monarch Media said that more and more businesses are moving their sales training online.10 Belitsoft, a software development company, said “as of today, nearly half of the most profitable world-known companies use eLearning tools for online training.”11
Related Reading: How Learning Management Systems Increase ROI
Discover the Value of Online Learning for Your Business
Has concern about the business value of eLearning held your organization back? If so, consider what how current employee training programs are run and compare that to other key players in your industry. Chances are, the most successful are already using online learning to improve their results.
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References:
1, 9. Digital Marketing Institute. The value and importance of online learning. https://digitalmarketinginstitute.com/en-us/the-insider/the-value-and-importance-of-online-learning.
2. KZO Innovations. 14 must-know e-Learning stats. https://kzoinnovations.com/e-learning-stats.
3. Digital Chalk Blog. Top 10 eLearning statistics for 2013. https://www.digitalchalk.com/blog/top-10-elearning-statistics-for-2013/.
4. Arth, Barb. The business impact of next-generation eLearning. http://www.fourthirds.com/wp/wp-content/uploads/2016/11/The-Business-Impact-of-Next-Generation-eLearning.pdf.
5. The Insider. The value and importance of online learning. https://digitalmarketinginstitute.com/en-us/the-insider/the-value-and-importance-of-online-learning.
6. Research Gate. The relationship between satisfaction with workplace training and overall job satisfaction (PDF). https://www.researchgate.net/publication/227657996_The_Relationship_between_Satisfaction_with_Workplace_Training_and_Overall_Job_Satisfaction.
7. Infographic. Insights into global demand for online learning. http://media.prtl.eu/Global_Demand_for_Online_Education_StudyPortals.pdf.
8. Small Biz Trends. 98 percent of all companies plan to use e-learning by 2020 with opportunities for small biz. https://smallbiztrends.com/2017/12/2018-e-learning-trends.html.
10. Monarch Media. Learning to sell: more companies move their sales training programs online. https://www.monarchmedia.com/learning-sell-companies-move-sales-training-programs-online/.
11. Belitsoft. Top successful companies using corporate eLearning 2018. https://belitsoft.com/saas-application-development-services/successful-companies-using-elearning.
