In the corporate world, the latest vogue is incorporating learning into the workplace through an eLearning system. In 2018, it is estimated that organizations valued internal resources (around 61%) for training purposes over outsourced resources (about 39%). A research by IBM reveals that in terms of productivity, for every $1 expended on the workforce learning, an organization profits by $30.
Growth of eLearning industry in India
Reports suggest that the Indian e-learning market size will grow to 1.96 billion dollars by 2021 from 247 million dollars in 2016. Thus, there will be an increment of revenue by a factor of 8X. The user base is expected to grow from 1.6 million users in 2016 to 9.6 million users by 2021. In the coming few years, India’s e-learning market will grow exponentially. India’s internet user base will rise from 391.50 million internet subscribers, in 2016, to 730 million, by 2020. The internet industry will grow to 7.5 per cent of gross domestic product (GDP). Based on these figures, it is projected that India will become the second largest eLearning market after the US, with a growth rate of about 15.64 percent.
Enhancing corporate productivity with eLearning system
In the past few years, some of the popular eLearning technologies used by various organizations are:
Learning Management Systems (LMS); video broadcasting; webcasting, and virtual classroom sessions. The popularity of these technologies varied from 70% to 80%.
Rapid eLearning tool was the next preferred popular eLearning technology. About 40% to 50% of organizations chose Rapid eLearning tool for conversion of ppt into engaging eLearning content.
About 30% preferred simulation for learning
About 20% of organizations implemented eLearning system in Mobile Applications
10% to 15% of organizations picked Podcasting.
5X learning with eLearning system
IBM study indicates that employees' learning capability was between 3X to 5X times when training was done through an eLearning system, compared to the conventional mediums such as physical books and manuals. Learning through an eLearning system assists organizations to train more in a less period of time and thus, allows employees to balance between work and learning process. Furthermore, this initiative massively helped IBM to organize, restructure, and modernise the workplace education process which in turn helped to maximize productivity and profitability at a reduced cost.
Better learning with bite-sized video in eLearning system
We, humans, have better visual comprehending capability. Compared to text, visual images are processed faster, about 60,000 times, and an astounding 90 percent of information to the brain is in visual form. Thus, visualization works better than any other type of data for humans. Keeping these factors in consideration, bite-sized videos in the eLearning system is easily consumable for the employees and aids immensely in better knowledge retention. Additionally, bite-sized videos are impactful; easier to collaborate, and employees find them interesting, and easier to complete, given the time constraints they face owing to the daily workload in office.
VKCL -Helping you develop the best and effective eLearning system
VK Creative Learning, an eLearning expert from the past one decade, thoroughly acquainted with time limitations of the employees, provides expertise in AR/VR; Rapid Learning; Learning Management Systems (LMS); interactive customized 3D bite-sized videos, simulations, etc.