In the midst of 2022, workers no longer think exclusively about the paycheck when it comes to committing to a company. The 2020s demonstrated in many sectors that for companies to stay productive, it was only sometimes necessary to be on-site. Since then, the workforce has also begun to value other variables to prioritize their well-being.
One of these variables is the possibility of accessing online education and continuing education after graduation. Fortunately, more and more companies are betting on eLearning. Studies by IMD from 2015 on 68 companies worldwide showed that, even before the pandemic, 90% already used digital education, compared to 4% in 1995.
The data shows that the online education industry continues to increase, so stay tuned with the following 10 workplace learning trends that will shape 2023.
1. The corporate eLearning market projected to exceed $450 billion by 2028
The corporate eLearning market continues to rise. Not only 2021 did this industry exceed $315 billion, but by 2028 it is expected to exceed $450 billion.
That is no coincidence. In 2022, according to Hootsuite's annual report, 62.5% of the world's population has access to the Internet, and cutting-edge companies have been the ones that have taken the most advantage of this scenario to train their employees and reduce costs along the way.
For the above reason, US-based global organizations such as the Association of Talent Development, claim that 99% of the organizations they considered for the study E-Learning: The Evolving Landscape have some online training program for their employees compared to 75% of the companies that had such courses in 2015.
2. Companies can save between 50% and 70% in employee training costs through eLearning.
If investing in the education of your team members means incurring significant expenses for travel, food, transportation, etc., you are missing out on the advantages you could gain from the level of technology adoption by your employees.
When IBM began migrating its corporate learning strategy to the virtual world in 2000, it decreased its learning-related expenses by as much as 30%, translating into savings of $200 million previously invested in face-to-face education programs.
3. 61% of hiring managers consider online credentials to be as valid as those completed in person.
Several decades ago, the scenario in which virtuality equated in quality to face-to-face was still doubtful. However, since 2020 burst onto the scene, talent developers have managed to keep their teams motivated and trained despite remote work through online training programs. The previous conviction has been such that some studies show 61% of hiring managers consider online credentials as valid as those completed in person.
That picture is not necessarily a consequence of the pandemic only, as even before that, some figures already showed the increasing willingness of some companies to offer online courses. For example, while in 2017, 49% of the companies consulted by LinkedIn assured that budget was one of their concerns when sponsoring learning strategies, in 2019, that same concern had dropped to 27%.
This scenario may be a symptom of companies' confidence in online education. Some data provided by Forbes claim that those companies that offered access to education programs obtained a return of up to 218% per employee.
4. 72% of organizations believe that eLearning helps them to keep up with market changes
Since 2020, the need to satisfy product demand without neglecting customer service has been a significant challenge for companies in times of isolation.
However, keeping up with market trends and behaviors to satisfy them has become easier thanks to eLearning. That has been the case for 72% of the companies surveyed by Certify.me, which stated that eLearning allowed employees to develop skills more effectively and be more competitive.
The above data corresponds with other analyses that ensure that allowing employees to learn at their own pace through digital tools increased their productivity by between 15 and 25%.
5. 79% of employees already rely on online training tools and courses
According to a survey of more than 1,000 hiring managers and more than 100 people with degrees from online universities, FutureLearn found that at least 89% of employers believe online education will become increasingly common.
In addition, 79% of the consulted employees assure that since 2020 they have relied on online training tools and courses: an appropriation of global eLearning that does not intend to diminish if one considers the answers obtained by LinkedIn in one of its Workplace Learning reports. In this particular study, 57% of talent developers plan to increase online training hours in their teams soon.
6. 67% of college instructors believe that virtual content such as blogs, videos, and podcasts are necessary tools for teaching
Even classical academia is not 100% traditional. According to an internal study conducted by the University of the Potomac regarding the methodologies used by their teachers, 67% of respondents said that their teaching methods include digital tools.
That picture, where tradition also relies on the online world, makes eLearning even more economical than face-to-face training. According to the International Institute of Management Development, 60% of their total employee training expenses are attributed to travel alone in some organizations.
7. 68% of employees prefer to learn from the workplace
Because training is directly related to the preparation an employee needs or because 90% of students prefer virtual education, it is more convenient for workers to dedicate time to their learning during their working hours.
Not only do 68% of employees surveyed for Finances Online say this, but due to the impact of Covid 19 in 2020, a LinkedIn study found that 66% of participating professionals expected their companies to spend more money on eLearning programs.
The above requirement has not gone unnoticed as, according to Emerald Works figures, 91% of the companies surveyed in their studies said they prioritize online education programs over traditional ones.
8. Sometimes, a student can learn up to five times more content through eLearning than in traditional training.
It is clear that if we talk about formats, Internet users prefer video to text: a reality that applies to most learning content.
Video not only allows a 9% increase in the retention of any information, but in some cases, it can make a student grasp up to five times more content in this way than in face-to-face training.
That has happened in companies such as IBM. In 2015 the company incorporated a digital training program called Basic Blue. At first, students did not believe in the quality of this type of education and even preferred blended learning, as a KPMG report shows.
However, the same responses from managers who attended the digital training showed that incorporating this eLearning space allowed the appropriation of 5 times more information compared to the 100% traditional training.
9. Online training takes 40% to 60% less time for employees to complete than traditional classroom education.
Not all costs a company incurs when it decides to train its employees are monetary. Time is also a precious resource for employers, and some prefer not to "sacrifice" it.
However, online education saves workers from having to spend productive time commuting and sometimes spending minutes or even hours in traffic. Instead, eLearning allows people to dedicate the exact time to their preparation from their workplaces, with a much better disposition.
The above scenario is a win-win situation that is even measured in data. For example, a Brandon Hall Group study mentions that it takes an employee between 40 and 60% less time to study a particular subject online than in the traditional classroom without interrupting their workflow.
10. Closing the skills gap is the top priority for 61% of companies.
Software engineering, cloud computing, statistical analysis, and data mining are the hard skills most in demand by companies today. And while closing the gap in these skills is a top priority for at least 61% of at least 500 companies surveyed by Udemy, other areas are also in urgent need of development.
According to some studies, even though 90% of companies offer online training, 83% think there is some gap. That's why the priority for developing leaders is also oriented to developing critical thinking, leadership, time management, and teamwork, which is the number one need for companies.