E-learning, with its numerous advantages over traditional learning methods, is becoming the de facto way to train.
We live in a world of relentless change, where technological capabilities are frequently being refined and continued professional development is essential in any business that hopes to succeed. Continuous training leads to increased employee performance, which directly impacts productivity and profitability. The need for time efficient and cost-effective training has never been more apparent.
According to the National Research Business Institute, 23% of employees leave their jobs because there are no opportunities for development or training within the company. Did you know that 40% of every dollar spent on training is actually spent on travel?
The more geographically spread apart learners are, the greater the amount of money that needs to be spent on travel, accommodation, meals, stationery, etc. E-learning completely eliminates geographical challenges, while minimising time spent away from the job at hand, not to mention reducing the carbon footprint.
Since 2000, the global e-learning market has grown by 900%, and recent studies have projected that by 2019, 50% of all classes taught will be delivered on-line.
On-line learning eliminates problems associated with different instructors teaching variant material on the same subject. For company-based training, consistency is critical. Classroom training confronts students with the risk of having to entertain themselves while they wait for other learners to catch up. E-learning solves this problem by allowing the learner to study at his/her own pace, with access to the material whenever he/she needs it.
There is also the opportunity to go back if something is unclear. An immense advantage of self-paced study is that learners have a learning environment which is
considerably more comfortable, thus promoting the absorption of information. Additionally, e-learning is portable and can take up to 60% less time to complete
than traditional classroom training. It is designed to be simple, engaging and easy to understand. It is completely customisable and makes the process of acquiring and retaining new knowledge as fast, effective and enjoyable as possible.
According to a survey conducted in 2011, 72% of the 600 companies surveyed said that learning technologies such as e-learning and mobile learning helped their businesses adapt to change more quickly. They also believe that e-learning is providing them with a competitive ‘edge’ by continuing to keep them on top of market changes due to timeous training.
Corporate training is a $200 billion industry, with e-learning representing $56.2 billion of this amount and likely to double in size before 2015. Last year, The Training Room Online produced a number of webinars for The South African Institute of Chartered Accountants (SAICA), which uses e-learning as a means of continuing professional development (CPD).
These webinars form part of its Click2Start range which gives members the opportunity to listen to business leaders and industry experts such as Raymond Ackerman and the Public Protector – experiences they wouldn’t normally be exposed to.
SAICA also offers Harvard Business School and technical e-learning courses to their members, keeping them abreast of the latest advancements in business. E-learning has the incredible ability to overcome an array of challenges that learners face on a daily basis by using a combination of visual and auditory components, rather than just written words on a page, to deliver the message. It changes the way in which we learn, teach, develop and manage. ❐