Hey Siri, can you teach me how to do front-end development?
Yeah, people are shifting from traditional learning to eLearning every day. In fact, the eLearning industry is turning into a business. It’s growing so fast that now everyone who wants to train themselves for a job will probably need to spend time with computers rather than listening to a person writing formulas on a chalkboard.
What is eLearning?
Let’s form a definition first before we dive in deeper. eLearning is short for electronic learning. It is a modern way of training and learning, using electronic devices like computers, tablets, and smartphones.
Very often, companies hold courses over the internet. People no longer have to be sitting in the same room to learn from each other. Everything can be done via video conference calls or other channels of online communication.
Now, let’s see a few facts about it that show how outdated the traditional way is. Read on to understand more about this.
1. The industry is worth hundreds of billions of dollars
eLearning statistics say that by the year 2024, the industry will be worth a staggering $406 billion. This is an enormous amount. The reason for it is that companies are all leaving traditional ways of work.
Many companies are also retraining workers to give them the skills they need to thrive in the modern workplace. And let’s not forget the rise of new technologies. AI, for example, will be taking over jobs. Research estimates that by 2030, around 800 million people will become jobless unless they are retrained.
Sometimes companies pay for this education, while other times employees have to finance the training by themselves. Very often, these individuals have no time to go to classes somewhere around the city, so they pay for online courses that can be listened to through podcasts. A better choice is the video lecture, though. It’s proven that people learn much better when they can connect to the lecture in a visual manner.
2. 77% of US companies use eLearning
According to Design Digitally, in 2017, around 77% of companies used online training. If companies want their new acquisitions to do a perfect job, they must put them through at least a short training. This training costs time, effort, money, and resources in general.
With the rise of technology, managers have realized that it’s much simpler and a lot more affordable to provide online courses for their new employees.
3. Over the last 18 years, eLearning grew by 900%
This is an impressive stat. Over the last 18 years, eLearning grew by 900%. You can easily see the correlation between the rise of popularity of the internet and the popularity of eLearning, right? At the beginning of the new millennium, the internet existed and was used all around the world, but its true potential was still not discovered.
Today, aside from the many fun things you can do online, you can also train yourself to be a professional in almost every field there is. In some cases, there’s no need for professional lectures. YouTube has a DIY video for almost everything on this planet. Of course, these videos are from amateurs.
Most of the lectures online are tailored to different types of people. Usually, there are three types – those made for beginners, then intermediate courses, and expert level lectures. If you want to become an expert in something, it’s best to start with the lowest levels and then advance to the most-complex lectures.
4. Companies save millions using eLearning
Companies that realized first how much switching to eLearning would get them are now experiencing an enormous rise in profits. For example, the tech giant IBM saved around $200 million by just switching from traditional to online learning.
Research shows improvements in many different sectors. Even customer satisfaction was raised 17% in those companies that decided to switch from traditional to eLearning. Also, there’s an interesting fact which says that 25% of employees will leave due to not having proper training for the job or there are not enough learning opportunities.
Every good manager and HR worker knows how hard it is to find a well-trained person to work for them. Everyone needs training. The worst thing about a good employee is losing them after you’ve spent so much time and energy showing them all the secrets of the company.
Having employees trained through eLearning programs makes them more satisfied in the workplace. This means the chances of them quitting are lower. Finally, it means that every company allowing this kind of training will see a 26% rise in revenue per employee.
5. Schools around the world are shifting to eLearning
The young generations, unlike the millennials and those before them, are entirely growing up with tech gadgets. They don’t know a life without the internet. This is why eLearning must be mandatory in all schools.
According to Statista, in 2016, 81% of college students surveyed said that digital learning technologies helped them boost their grades. Students from different levels are accustomed to computer learning and doing research online.
All this explains how important eLearning is today. The sooner companies realize that abandoning traditional training will give them benefits, the better for them. The same goes for all segments of society. Technology is everywhere around us, and we must accept this fact.