Yes, you read that right – a 26% increase in profit according to the Digital Skills Gap Study done by CapGemini. It sounds like good news, but such numbers may seem a bit esoteric, especially for those making the budget decisions. Unfortunately, 74% of folks tell us, in OMI’s new Digital Life & Learning Study, that their organization does not provide any education (let alone eLearning) that supports their career path. The numbers show that it’s a big missed opportunity for increased profits.
Not only has the world largely adopted eLearning (using simple webinars, for example), but also the cost-to-benefit ratios are now unmistakable. So, let’s break down why exactly that is.
10. eLearning is extremely cost effective.
Because you share in the cost of creation with thousands of other users, eLearning video creation (in many models) allows you to benefit from the fact that many other folks need and will pay for the same content. In essence, you’re saving big by not paying tens of thousands for a trainer to “create” a day of training just for you.
9. eLearning is scalable.
If applied correctly, eLearning can allow anyone in your organization around the globe to learn. By having localized content (translated voiceover or captions, best for Chinese), your courses now have global impact.
8. eLearning has impact day to day.
Learning is an every day endeavor, especially in fast-paced fields like digital marketing. eLearning is there to support you when new challenges arise (like retargeting), when different focus areas require your attention (like mobile), or when you need to be more informed for a certain meeting that’s important to careers and client-facing folks. It’s not just singular track certification or training, but asynchronous education at the time of need.
7. eLearning allows the best to teach.
Now industry-leading experts can teach the masses by eliminating the physical necessity of a place with so many seats. Getting the best educators and channel to teach nearly anyone (price point being fair) is one of the great equalizers of our time.
6. eLearning follows current trends and best practices.
With the ability to record new classes, educators can now share best practices as they change and evolve. Think new updates on Facebook, improved best practices in SEO, and so on.
Related Class: Best Practice of SEO
5. eLearning is customizable when done right.
This is not always the case when licensing someone’s content or library. But if you’re really looking to build a true eLearning program, the ability to have both external and internal experts custom record content for your staff and your vertical market needs is a very clear advantage. Customization will also provide a much deeper level of engagement than is possible otherwise.
4. eLearning is on-demand for busy professionals.
“But I’m so busy” is something we hear every day. And that’s why being able to access learning modules, available on-demand, to view on your commute into work or after the kids go to sleep becomes so valuable.
3. eLearning drives new skills.
When done right, eLearning courses can take you step by step to acquire a new skill. And unlike in-person training, which is usually an information dump, you can have quizzes and problem solving that really provides a great path to making skills practical in use.
2. eLearning drives better execution.
This one’s pretty simple. Learn how to do something better, and the ROI from the better execution is imminent. eLearning is the best path to learn it right, the first time.
1. eLearning is the best outlet to create culture that will push you to the next level.
This is number one because it has the greatest impact. When your staff (and yourself) are interested to learn new things, curious about how to push to the next level and then take that knowledge to work and use it, results are a sure bet. Your staff will be more empowered, engaged and happy. The greatest satisfaction one can get in life is to learn something new, put it to use and then see results. Your talent retention will jump significantly.
The really interesting part of this is that so few (in the Digital Learning Study, only 6% say they have strong corporate education/eLearning programs) are really investing in eLearning and education, to differentiate and provide an amazing outlet for employees. And this alone can and does truly differentiate. It’s a great opportunity to drive more business, acquire great talent and even save money over traditional means.
Want to learn more about eLearning vendors and how they compare? Check out this post, a first look at OMI’s eLearning vendor comparison report.