The size of the eLearning market is growing rapidly. There is an increasing demand for eLearning courses across the globe. More and more people are starting to appreciate the benefits of online learning. Academic and corporate institutions have adopted the use of eLearning tools in their marketing strategy.
Research shows that the eLearning industry earned over USD 165 billion in 2015. It is expected to rise above USD 240 billion by 2023. Lower cost compared to traditional education methods motivates colleges and universities to shift to the eLearning arena.
Benefits of eLearning for Business
The traditional approach to training employees can be very costly especially for companies whose workforce are spread across distant locations. Instructor-led training puts an added expense to the company’s budget. They would have to hire a competent professional to conduct the classes and provide for travel expenses to transport them to different locations. The creative solution to this problem is eLearning.
Consider the following benefits of an eLearning system for your organization:
- Decreased Training Cost – Workforce training puts a bulk of expenses in every business. It demands a lot of time, resources and money. Printed materials, on-site instructors and travel are common factors for the high cost of training employees. An eLearning system eliminates these factors to reduce training cost.
- Increased Productivity – eLearning systems increases employee productivity. It allows employees to get their training in their free time. They no longer need to leave their desk to join the training. They can also easily access these training resources for review whenever they need it. It helps them perform their job effectively.
- Reduced Employee Turnover – With the learning resources easily accessible, employees become more confident on the knowledge. It reinforces their knowledge and skills. It motivates them to do better. Having a well-informed employee reduces the risk of employee turnover.
- Centralized Management – eLearning systems allow employers to update the learning material in one place. Employers can quickly update everyone with changes on the business. This keeps all employees knowledgeable and well-equipped to perform their job well.
Employers always have the freedom to decide which training approach works best for their business. Traditional, instructor-led training can still be useful and effective. It all depends on the nature of the business. Some would even combine both instructor-led and eLearning in their training strategy.
Whether you have an existing business and want to improve your workforce or you are a professional who wish to share your expertise to the world, eLearning is a profitable engagement for you. If you need any help, WP Creative Solutions is at your service. We can help you setup your eLearning portal with WordPress