Elearning Statistics for 2020

by James T. Professional Writer

There is no denying the fact that the elearning industry is experiencing a tremendous growth. But like any industry report only words do not suffice to measure the rising demand of online education. That is why, in this article, we highlight the few major statistics of the elearning spectrum.

1. Approx 80% of all US companies used online learning in 2020

The number of US companies hit an all-time high in 2020. The reason for this high number of people shifting to online learning is the realization of how impactful e-learning can be. One main factor that attracts employers is how the training can be sped up and scaled to meet the ever-increasing demand with little to no extra costs.

E-Learning can reduce employee training time by almost 50%, which allows them to be onboard faster and do more productive work for the company. It also boosts knowledge retention by 40% on average, and it has been proven to consolidate the various learning programs which can be easily accessible.

E-Learning can also be easily updated to include the latest changes and modern workflows. The better retentiveness helps the learners to apply their knowledge into the real world as they see fit.

2. A Simplified training program has led to a 200% growth in revenue per employee.

Companies like Deloitte have stated that 1% of an employee’s time every week should be dedicated to their training. This will help them stay up to date and maintain a healthy work-life balance. Assuming a five-day working week, it translates to 24 minutes in a week or 4.8 minutes per day, roughly 5 minutes.

That might not be possible for all, and here is where micro-learning will help the learners to learn by fun quizzes or other effective and small and similar methods to keep the employees engaged in learning. This helps people who are good at learning small bytes regularly. This will help them remember it easily and recall it whenever needed.

3. Data suggests that employers get a better profit margin after investing in their employees.

Research data shows that employers receive almost 24% of the increased profit margin when they spend a dedicated budget on developing their employees. The study was conducted in more than 2500 firms, and it was found out that companies who provided training in a range of courses showed better improvement than the ones who had fewer training courses.

Initially, most companies might be reluctant to train their employees, but even good managers know that investing in employees will always turn out to be a good investment. Here is where LMS comes into play by making them able to train more employees at a lower cost per employee.

The employees can be trained by E-Learning, and the employees can learn at their own designated time and pace and hence excel in their field. Choosing the right LMS for the company also matters, and investing in them has shown better returns.

4. For every rupee spent on elearning, the company can make 3000% in productivity.

Productivity is not only crucial but vital to any company as a whole, and hence the higher it is for a company as a whole, the better it is. Hence increasing each employee’s productivity is the best way to increase the overall productivity of the whole organization.

IBM has found that though eLearning is a costly investment, they have reported that it led to a 3000% increase in the company’s overall production rate as a whole. The gains ranged from both employees being punctual, returning faster to their desk, and also applying their knowledge in day to day activities.

5. The whole E-Learning industry has grown 900% more since the beginning of the century.

Since 2000, the revenue in the E-Learning industry has grown by more than 900%, and the trend has shown no signs of stopping. With the industry to grow triple in size by 2025, the staff should be trained equally, and this can be applied by online learning.

Through online learning, companies do not need to focus on the instructors to give the same level of education, but through online learning, all employees will get the same standard of education. They can also fail without any fear of serious consequences. Thus it is a good way to learn from their failures.

The statistics mentioned above are some of the stats of 2020, which can show you the real impact of e-learning and how it has and will continue to grow in the forthcoming years.