According to various researches and studies, it is expected that the eLearning market will grow at a Compound Annual Growth Rate of more than 7% in 2017 and over the next decade, it will reach to $325 billion. The highest growth will be seen in the online corporate training market which is expected to rise by more than 13% per annum.
Now more and more companies in India are offering online corporate training to their employees. Why is this sector witnessing continued growth and adoption in the corporate sector?
Corporate training is helpful for content creating companies and as well as for learning business management technology.
Advantages Of Online Training Courses Over Conventional Learning Methods
With the technological evolution and growth in the number 0f tech-savvy millennial, it was obvious, the focus will shift from offline Corporate Training Programs to online Corporate Training Programs. According to a Study carried by the US Bureau of Labor Statistics, 80 million tech-savvy millennials were born between the years 1976 and 2001 which will represent 46% of the total workforce of the US till 2020.
The online corporate training courses are accessible to the employees throughout the day 24/7 and thus it becomes possible for them to learn the subjects of their interest at their own place in the most comfortable settings.
Online corporate training courses enable fast learning than the conventional classroom training courses. The online corporate training courses make employees more productive and profitable for the company.
Since employees of the companies around the world work out of different time zone, 24/7 online corporate training enables an employer to offer training to its staff without a constraint on his/her resources because it saves both time and money of the company.
Studies have revealed that online corporate training increases retention and engagement of the learner.
It is simpler to join an online training course than attending classroom training classes. An employ is able to make full use of personalised study materials and interactive formats.
Online corporate training tools are much scientific and improved method of learning than a conventional learning method.
You get instant reach to trainers and staff from across the globe which is not possible with conventional training programs.
Online corporate training programs enable people from various geographical areas, countries and States to bring a collective solution to problems in real time.
Some other benefits of online corporate training programs are that it brings instant connectivity to the corporate training experts regardless of their geographical location. So it is considered a win-win situation for both employer and the employees undergoing a corporate training course. Otherwise, companies incur significant costs via conventional classroom training methods.
You do not need to spend money on a trainer, commutation of employees, documentation, infrastructure and classroom rentals etc. You need to expend one time and reuse material as many times as you can. You can use the material for multiple batches of learners.
Corporate Training Courses reduce the paper consumption since you are using an electronic format, thus is regarded as environment-friendly as well and most suitable for millennial.