eLearning is no longer the exception – it’s the rule. With more than 30% of training hours delivered online, companies who waste the opportunity to become more capable with online training are saying goodbye to more than revenue – they’re writing off employee satisfaction and innovation. As you contemplate using online training to accomplish your organization’s goals, keep these metrics in mind.
- $130,000,000,000 is not just the amount of money spent on fastfood in America, it’s the size of the American training market. Few people know that the training sector is bigger than the video game, book publishing or recorded music markets.
- While companies blow $53,000,000,000 on on travel and lodging costs for traditional, in-person training every year, Americans spend that many minutes on Facebook every month. Lost productivity on both sides!
- Can you believe companies spend $1,014 on each employee’s training each year? That could pay for groceries for 4-5 weeks for the average family.
- If you connect your employees to online training, you’ll do more than save money on travel – you’ll save energy and reduce your organization’s carbon footprint. Online training uses 90% less energy than in-person training – coincidentally also the percent of the world that is right-handed.
- 61% of parents have spied on their children’s Facebook accounts (probably good parenting!), which is the same proportion of mandatory or compliance training that is currently conducted online – saving both parents and companies considerable time, energy and headaches spent resolving bad behavior.
- On average, employees spent 40.1 hours in training in 2010 – time that could be reduced with online, self-paced training. Or, you could spend the same amount of time walking across the Golden Gate Bridge 59 times.
- Online training improves employee retention by demonstrating your commitment to their continual improvement and satisfaction. Companies who use online training experience a 40% decrease in turnover rates – the same proportion of 9-1-1 calls in NYC that are pocket–dials.
- With the $38 in savings per hour per employee you’ll achieve by using interactive online training instead of traditional training, you can buy a waffle maker.
- Every 3-5 years, 50% of employee skills become outdated. Meanwhile, the average rabbit lifespan will have come and gone – while your organization falls behind its peers unless you invest in training.
eLearning is more than a quickly expanding industry and more than a promising alternative to traditional in person skill training. It’s a cost-effective, efficient, engaging way to provide the training that you and your employees need.
Ben Graziano is a content developer at OpenSesame, the world’s marketplace for buying and selling online training courses. Ben is a senior at Babson College and loves soccer, hiking and weight liftin