Over the past ten years, online training has become more accessible than ever. As a result, the next ten years are going to excel due to streamlined development, cost efficiency, and the rising number of corporations that are implementing it. However, if you’re curious about online training and haven’t yet adopted it into your training program, the question remains…
What exactly is going on and why should I be paying attention?
As of 2011, 77% of American corporations had adopted some form of online training. Compare this to 1995 when only 4% were using it. When you see an increase as substantial as this, its impossible to ignore. Instructor-led training will only continue to lose headway as more intuitive and interactive learning environments become accessible and productivity is shown to improve.
Online training is rapidly becoming a cost effective training solution in this tough economic climate. When you look at the numbers it becomes obvious why this is happening. According to a Global Industry Analysts report, corporate training is a $200 billion industry, with online training currently representing $56.2 billion of this amount. By the year 2017 online training is projected to represent $107 billion, more than doubling its current amount. Corporations that implement online training have the potential to save 50% to 70% more than if they maintained instructor-led training courses exclusively.
Motivating learners to make decisions and act on what theyve learned makes use of their engagement, critical thinking, and application of knowledge. By offering dynamic online training based on real-life scenarios or gamification, the result will be quicker implementation and knowledge retention by the learner.
Learners are also demanding that their time be used more effectively. They want easy access to courses that engage them. In addition, more and more learners are wanting a mobile learning solution so they can take their online courses when and where they choose. This isnt always the office workstation. Often its a device of their own; whether its a laptop, tablet or smartphone.
As younger learners made their way through K-12, theyve increasingly used online training to teach them the fundamentals. This generation of learners will have expectations on how they should learn as they enter the workforce. Some of these learners will become decision-makers when it comes to developing a training program in their organization.
Use Of Available Technologies
With the implementation of powerful networks and higher broadband connections, online training software has become more and more accessible. As a result of the ability to go wireless and exist in the cloud, online training is seeing an upward trend in worldwide use, use in corporate-sponsored training events, and collaboration. While companies may pay a cost for online training, they reap the benefits of reduced costs related to travel and instructor fees, as well as less tangible costs, such as employee inefficiency. Between 2009 and 2011, the number of those with a leadership and development role who planned to use more online training increased from 50% to almost 90%. Those who planned to collaborate on training initiatives also rose sharply during this time, from just over 40% to nearly 60%.
The ability to provide learner-driven content, mobile-delivery, and targeted instruction is constantly being refined. This sees a substantial reduction in cost. This reduced cost is one of the primary market drivers. By capitalizing on this market, you can ensure that online training will remain valuable in the years to come.
If you would like to know more about what you can do now, download our free ebook Navigating The Training Industry In 2013 for more valuable insights.
Image Credit: Marcel Germain