As the world shifted to remote environments for many aspects of life in 2020 and 2021 due to the COVID pandemic, eLearning took centre stage as one of the most critical systems keeping the world’s schools and businesses moving forward. And while eLearning has been gaining traction for years, the pandemic thrust it into the spotlight as a popular, and maybe now even a preferred, trend for employee training, development, and engagement.
Prior to the pandemic, researchers estimated that the eLearning sector would reach $243 billion by the end of 2022. However, since organizations of all shapes, industries, and sizes had to pivot to online environments for nearly all their needs, the eLearning industry is estimated to have skyrocketed in 2020 to approximately $499 billion.
While eLearning grew exponentially in 2020 and 2021 out of necessity, many employees and employers have noted the value in the model, which will likely surpass estimated growth beyond pre-pandemic outlooks. And more than just a convenient way for an employee to up-skill their competencies, eLearning has been proven to boost an employee’s value and earning power. The training benefits companies as well, with a recent LinkedIn study showed that firms investing in strong employee training programs experienced 53% less attrition.
Companies looking to maintain a competitive edge, retain their employees, and stay on top of industry trends should consider eLearning a valuable tool as part of their employee training, development, and engagement programs. eLearning can be a more cost-effective and time-saving tool than on-the-ground programs while engaging employees in exciting and flexible ways.
Through a wide variety of digital resources, including webinars, live or recorded presentations, quizzes, surveys, games, and more, eLearning provides exciting and varied training opportunities that on-the-ground programming may not be able to deliver. And it delivers the opportunity at scale—which can also be difficult with boots-on-ground training for large organizations.
As we head into a post-pandemic world, eLearning will undoubtedly be one of the legacies the pandemic has left behind that has positively impacted our personal and professional lives. It’s up to employers to be savvy enough to recognize eLearning’s benefits and leverage the many possibilities it holds for up-skilling their employees while giving them opportunities for personal and professional growth in a flexible and engaging environment.