4 Emerging Trends in Corporate eLearning
The last few years in education technology have shown one thing: eLearning is growing faster than ever, with the biggest investments going directly to higher and corporate education. Venture and equity financing for EdTech start-ups rocketed to $2.98 billion last year – a 62% increase from 2014. In the last 16 years, corporate eLearning has grown 900%, with 77% of US corporations using some form of online learning. eLearning generates 26% more revenue, cuts costs by 70% and decreases training by 60%. Precious resources are not spent on sending employees to different cities or countries for special training, or on hiring educators. The numbers don’t lie: corporate eLearning is here to stay.
The eLearning market is rapidly changing with new trends always on the rise. Although most learning technologies have been around for years, the modern-day challenge is curating these technologies into innovative and effective learning programs that will help achieve business goals. The corporate world can start addressing this by adopting these eLearning technologies: mobile learning, gamification, video-based training, and micro learning.
Mobile learning offers numerous benefits, including scheduling flexibility, portability, and access to more content. Unlike traditional learning methods, mLearning enables companies to offer content that includes better assessments, recorded information, chat features, and audio/videos. No wonder 99% of mobile learners believe mLearning enhanced their experience. By 2020, the mobilelearning industry is expected to grow to over $37 billion. While overcoming tradition can be tough when it comes to learning methods, you can’t beat the fact that mLearning is the solution to the supply and demand information age, now that millennials are entering the workforce.
What do you think of when you hear the word ‘game?’ ‘Fun’ is probably one word that comes to mind, along with ‘play’ or ‘challenge.’ Combine this concept with eLearning, and you have gamification. Gamification takes the fun playfulness of games and applies it to real-world challenges; it surpasses the mere entertainment factor and ventures into creating solutions that combine business and training with game design. Deloitte University Press predicts that gamification will be a $2.8 billion dollar industry by 2016, with 80% of learners claiming learning would be more productive if it were more game oriented.
As a fresh alternative to traditional eLearning, gamification can increase engagement and motivate employees to want to learn, especially if they are being challenged with more achievement-based systems, which bring together both the competitive and social aspects of games.
Video-based learning blends traditional instruction with technology and incorporates a more interactive experience to the training process, which can increase engagement. By 2016, it is predicted that 98% of organizations will implement video into their learning strategies. This change is due to the increasing emergence of social media learning and mLearning, which video-based learning can easily integrate with. Video-based learning also claims to be faster because it combines different styles of learning, such as auditory and visual so a “learner is compelled to work faster due to the high frequency of changing onscreen sensory ambiance blended with the meticulous auditory permutation.”
It is getting harder and harder to keep learners interested and interacting with learning material. Did you know that an adult’s attention span is shorter than a goldfish’s? 8 and 9 seconds respectively. But with the advent of micro learning, this may change. The idea behind micro learning is that people learn better and quicker in smaller chunks.
The popularity of micro learning is slowly growing, with companies moving away from long, lecture-style videos and adopting short videos that are engaging and can be used across all departments. It is no surprise that corporate learning is becoming more and more portable, social, mobile, interactive, and user-friendly. In the next few years, eLearning will have a new face, much like the one we already see, but better at satisfying the corporate learning market. Users and employees will learn on their own smartphones or tablets; interact with other learners socially; watch short training videos; play through challenges and unlock certifications and leaderboards; and take assessments and track their goals. All the while, companies are moving with the times – retaining satisfied employees, saving money, and saving time.
Interested in more stats – check out our infographic!