15 Facts and Stats That Reveal The Power Of eLearning
There is a lot of talk about how the internet has revolutionized companies daily operations, and with eLearning that's no different. eLearning definitely has changed the way companies train their employees. But, without hard data and trustworthy facts, how can training professionals move forward and get ahead of the curve?
Here are some great eLearning facts, figures and statistics that you should take notice of:
1. Companies are now increasing their use of eLearning regardless of size, but 41.7% of global Fortune 500 Companies used technology during formal learning hours last year. (Elearning! Magazine, May 2013)
2. With eLearning students have more control over their learning process and can better understand the material, leading to a 60% faster learning curve, compared to instructor-led training. (Facts, Figures and Forces Behind e-Learning – August, 2000)
3. IBM, after rolling out an eLearning program for managers, found that participants learned nearly five times more material without increasing time spent training. (Article: eLearning Success- measuring the ROI impact and benefits, May 2013).
4. According to a 2009 study from the Department of Education: “Students who took all or part of their class online performed better, on average, than those taking the same course through traditional face-to-face instruction.” Students who mix online learning with traditional coursework (i.e. blended learning) do even better (Internet Time Group Report).
5. eLearning is good for the environment. Britain’s Open University’s study found that producing and providing eLearning courses consumes an average of 90% less energy and produces 85% fewer CO2 emissions per student than conventional face-to-face courses. (Knowledge Direct Web)
6. Learning Technologies are boosting agility. 35% improvement in time competency, 32% faster roll out of new IT systems, 32% improvement in ability to introduce new products and services, 26% overall cost saving. (Towards Maturity Report, 2012)
7. Revenue generation per employee is 26% higher for companies who employ training and development best practices through eLearning. (The Business Impact of Next-Generation eLearning, 2011)
8. Reduced learning times- Brandon-Hall Study, reported that eLearning typically requires from 40% to 60% less employee time than the same material delivered in a traditional classroom setting.
9. eLearning can help companies boost productivity by 50%. Every $1 spent in eLearning results in $30 of productivity. (The Value of Training- IBM Report) .
10. The Research Institute of America found that the eLearning experience increases the retention rate 25-60%! This is due to the student having control over the learning process as well as providing them with an opportunity to revisit the training as needed, which is ideal for infrequent users. ( e-Learning – A Strategy for Maximizing Human Capital in the Knowledge Economy)
11. Several software companies recently found that by using eLearning to give their sales force information on eLearning (as opposed to the traditional approach of instruction), they were able to cut six weeks off the time it took to get their products marketed
12. According to most recent data published by CertifyMe.net on the state of eLearning in corporate education: 72% of organizations interviewed believe that eLearning is providing them with the competitive advantage by continuing to keep them on top of changes in their particular market.
13. Companies plan to invest nearly 240% more into elearning in 2013. This was a similar pattern found in the previous year’s report, and the data is backing it up as a reported $1.46 million was spent in 2011 compared to the $3.5 million spent in 2012. (Elearning! Magazine, May 2013)
14. Organizations with strong learning culture significantly outperform their peers. 46% more likely to be first to market, 37% greater employee productivity, 34% better response to customer needs, 26% greater ability to deliver "quality products", 58% more prepared to meet future deman, 17% more likely to be market share leader. (Bersin & Associates, 2012)
15. Companies that use online learning technology achieve an 18% boost in employee engagement. This way, as you increase job satisfaction and engagement among your employees, the overall health of your organization also improves. (Article: 3 Reasons to Implement eLearning in Your Organization, 2013)
The internet is where all businesses have to be. If you want to stay afloat, you need to get online. As these statistics reflect, implementing an effective eLearning initiative can be an invaluable tool in generating greater business performance and learning outcomes for your organization.
Which of these 15 statistics is most shocking to you? If you like some of these stats, please share them!