The global eLearning market size is set to exceed USD 375 billion by 2026, according to a research report by Global Market Insights, Inc. Yes, especially after the COVID-19-induced work from home mandates current educational landscape is going through a massive revolution. And in the future, online training shows no signs of slowing down. In fact, Regardless of size, companies are increasing their use of eLearning. However, 41.7% of global Fortune 500 Companies deployment some form of technology to train their employees — [e learning magazine]. After all, eLearning leads to increased retention levels, fewer costs, and self-paced training. So, should you consider online learning management system methodologies as your next training model? If you are unsure of the answer, our eLearning statistics for 2021 will help you decide.
15 Workplace e-Learning Statistics You Should Know in 2021
- Learning Time
As per research by Brandon Hall Group, “it typically takes employees 40 to 60 per cent less time to study a particular material via e-learning than in a traditional classroom setting.” Why? You can hold online training sessions asynchronously, allowing learners to access knowledge at their convenience. It also leads to an uninterrupted and smooth workflow. Moreover, even with fewer hours spent in learning, there is no compromise in quality when replacing offline classes with online programs.
- Retention Rates
The Research Institute of America reported that eLearning leads to knowledge retention rates ranging from 25% to 60%. In comparison, traditional classroom training promotes retention rates in the range of 8% to 10%. Since eLearning offers the option of microlearning and multiple revisions, learners have the advantage of consuming information in bites and revisiting courses whenever they want.
- eLearning vs Cost
With corporate e-learning, “IBM managers were able to learn five times more content at one-third of the cost. As a result, IBM saved $200 million, which accounted for around 30% of their previous training budget.” [Source]. This cost-saving is because IBM delivered more learning sessions in shorter periods after choosing online training models. The change led to fewer expenses in terms of venue, instructors, and travel costs. Even employees spent more time at their workstations than in training sessions — leading to a drastic reduction in the overall cost.
- eLearning and Revenues
As per a report named ‘The Ambient Insight 2012-2017 Worldwide Mobile Learning Market – Executive Report‘, 42% of the surveyed companies stated that game-based mLearning led to increased revenues. The same report also said that “Mobile is absolutely critical, if not ‘the’ growth driver for the industry for the next several years.”
- eLearning Statistics in Terms of Productivity
In the IBM study mentioned in point 3 above, the researchers reported that each dollar invested in eLearning leads to $30 in productivity. Why? After attending an online training session, an employee can instantly apply the acquired knowledge at his job. The transition from theory to practical application is quick. As a result, it leads to a boost in productivity.
- Employee Engagement
eLearning has proven that it promotes increased employee engagement. In a report published by Molly Fletcher Company, “organisations can achieve an 18% boost in employee engagement” after employing game-based online training.
- Competitive Edge
CertifyMe.net came up with data on the effect of eLearning in corporate training platform. According to this report, 72% of the participating organisations stated that eLearning had aided them in increasing their competitive edge by offering them the option to adapt to a swiftly changing market landscape.
- Turnover Costs
Did you know that employees usually leave their companies due to the lack of development opportunities? However, The Business Impact of Next-Generation eLearning reported that revenue generated per employee is 26% higher for companies that offer online training.
- Savings
As mentioned in point 3, the company saved approximately $200 million after adopting eLearning in the report published by IBM. Since online sessions ditch all additional expenses related to travel, hotel rentals, equipment, and instructors, organisations report massive savings in resources.
- eLearning Statistics in Terms of the Environment
It’s surprising, but eLearning also benefits the environment. A study carried out by Britain’s Open University’s reported that creating and distributing online courses consumes around 90% less energy and produces 85% fewer CO2 emissions per student than traditional training.
- Motivation Factors
E learning management system motivators for employees are individual learning pace (95%) and no travelling (84%) — KPMG. Of course, we already know that modern learners prefer to consume information at their own pace and place. And eLearning offers them this opportunity.
- Frequency of Virtual Classes
As reported by Computer Weekly, Shell, one of the largest oil companies in the world, has used e-learning to reduce the cost of their priciest training programs by 90%, deliver more than 12,000 virtual lessons, and save over $200 million.
- Compliance Training
eLearning is exceptionally efficient when it comes to compliance training. 82% of organisations conduct some of their compliance training online. And 28% of organisations conduct absolutely all of their compliance training online — Training Magazine.
- eLearning Statistics and Content Library
Airbus, the world’s largest airliner manufacturer as of 2019, employs 100,000 staff members across 35 countries. Airbus managed to cut down training costs by millions of dollars by establishing an e-learning library with more than 6,900 pieces of content. In addition to cost savings, the change had a positive effect on employee engagement and satisfaction levels — Computer Weekly.
- eLearning Statistics and Employee Loyalty
94% of employees say that they would be more willing to stay in those corporations that prioritise and invest in employee career development — LinkedIn.
Conclusion
In the age of the internet, you cannot be left behind. If you want to maintain an edge over your competitors, you need to embrace online training as your go-to model. As these statistics make it very clear, implementing an effective eLearning program like PlayAblo can be a vital tool in generating more significant business revenues and performance outcomes in your company.
