These Training Industry Stats Will Surprise You
We have seen many notable trends and ideas cropping up in the training industry over the last several years. From changes in technology, new discoveries about learning techniques, and continuing to train during the pandemic, there are many stats you need to know to deliver the most optimum training. Below are our Top 12 Training Industry Stats you need to know.
1. The eLearning Industry is predicted to grow into a 370 billion (U.S.) dollar industry.
In light of the pandemic, the eLearning industry has grown to be more important then ever. Despite countless employees switching to remote work, corporate training still needs to be deliverable and accessible for organizational growth. This growth is significant compared to the eLearning industry’s value of 101 billion (U.S.) pre-pandemic.
2. 97% of employees surveyed in 2020 said soft skills were as important, or more important, than hard skills.
(Source: SHRM Talent Conference)
Virtually all employees see the immense value of soft skills, making soft skills training a sure-fire way to fulfill their needs and contribute to their success. The study this statistic is referenced in discusses how the number one reason new employees fail in a new job has nothing to do with the technical skills of the job, but has everything to do with a lacking in professionalism or getting along with others. These stats clearly prove that soft skills are highly valued by employees and providing training in them can directly contribute to their success.
3. 76% of Gen Z learners believe that learning is the key to a successful career.
(Source: LinkedIn Workplace Learning Report 2021)
Believe it or not, the next generation of employees is shifting into the workforce. It is important to understand Generation Z’s needs for training and growth. The 2021 LinkedIn Learning Workplace Report found that 76% of Gen Z learners felt that learning is key to a successful career, and online training was at an all time high for this generation. This study also found that Gen Z employees are more likely to be motivated to partake in corporate training when it can result in career growth. By providing training that is relevant to the acceleration of a Gen Z employee’s career, you will have more engaged trainees.
4. Corporate e-learning takes 40% to 60% less time to complete when compared to traditional learning.
While eLearning is known for its convenience in the face of remote working being at an all time high, it has benefits that go beyond this and towards significant boosts in training productivity. By being able to partake in engaging, self-paced learning through eLearning, learners have been able to work through training content significantly faster than traditional instructor-led training. For many employees interested in expanding their knowledge, but feeling like they don’t have time, this is their answer.
5. 26% of people surveyed stated that they mostly or completely outsourced their LMS operations/ hosting.
(Source: Statista)
If you haven’t considered the idea of outsourcing parts of your corporate training, now is the time to start. Outsourcing training materials is a continually growing concept, especially with the technological advancements rolling out within the industry.
6. The World Economic Forum estimates that 50% of employees will need to be reskilled by 2025.
(Source: TrainingIndustry.com)
You may be wondering “What is reskilling?” and with it being more relevant than ever, it is important to know. Reskilling is the concept of training someone on an entirely new skill for a new position or career shift. The opposite of this is upskilling, and it involves training that builds on an employee’s current skillset. As the way employees work continues to change, new roles and talents will be necessary to prepare employees for new positions. Career shifts are at an all time high, and the training industry is crucial to fostering smooth transitions.
7. In 2020, 90% of companies used eLearning as a training tool.
The reality that 2020 has made technology more important than ever to allow businesses to continue to work towards their organizational goals. Since corporate training is a crucial part of employee development, this was no exception. While eLearning has been around for a significant amount of time already, it was never considered such a wide necessity before the pandemic. If there’s one thing that this has taught us, it’s that eLearning is a viable way to provide effective training, and it doesn’t look like it is going away anytime soon post-pandemic.
8. 72% of respondents in a study on mobile learning said that mLearning increased their level of engagement with the learning programs being offered in their organization.
You have probably heard of eLearning many times, but have you heard of mLearning? If not, now is the time to get up to speed on this fast-growing training industry trend. mLearning stands for mobile learning, and it simply means learning through a mobile device like a smart phone. In 2021, it is more common than not to own a smart phone. In fact, 62.7% of the world’s population owns a smartphone, and this number is constantly climbing. This makes mLearning one of the most accessible forms of training that has ever been offered. Learners have all the information they need in the palm of their hand and can access it anytime, anywhere. If you haven’t considered mobile-friendly eLearning for your online or blended corporate training yet, now may be a great place to start.
9. 83% of L&D pros say their executives support employee learning, but only 27% of L&D pros say their CEOs are active champions of learning.
(Source: LinkedIn Workplace Learning Report 2020)
While many senior leaders are well-intentioned when it comes to employee learning, the execution is a different story. Whether it is due to logistical issues, time constraints, or it simply falling on the back burner, CEOs are not advocating for the continuing education of their employees as much as they like to. As a trainer or employee looking to learn, it is crucial to express to executives the importance of implementing effective corporate training.
10. In 2020, demand for Stress Management training workshops increased by 1,015%
(Source: Udemy 2021 Workplace Learning Trends Report 2021)
There’s no doubt that 2020 was an exceptional year for everyone. No one could have predicted the pandemic, and the way it impacted so many different aspects of everyone’s lives. This is especially prevalent in how employee’s jobs changed. The countless changes that had to be made to how people did their jobs, such as working from home, made a significant impact on employee’s mental health. Resilience and change management has been more important than ever, and stress management is a crucial part of that.
11. It takes an average of 55 hours to develop the average instructor-led online/virtual module of 25 minutes in length.
(Source: Association for Talent Development)
The question surrounding how long it takes to develop training materials is tricky, and has a lot of different factors.
While researcher Robyn Defelice clarifies that this number is everchanging and very dependant on context, the programs used, the skill level of the developer, etc., she determined that, generally speaking, it takes an average of 55 hours to develop the average instructor-led online/virtual module of 25 minutes in length.
Even as a rough estimate, Defelice’s research demonstrates the significant amount of time it takes to create training materials from scratch, and why many opt to outsource customizable materials as a baseline.
12. A survey of 2,500 companies found that those with “comprehensive training programs” have 218% higher revenue per employee and 24% higher profit margins.
(Source: American Society for Training and Development)
If the benefits of well adjusted, highly skilled employees isn’t enough to convince you of the importance of corporate training, then the impact it will have on your organization’s bottom line just might do it. Companies that provide quality training programs for their employees have proven to have significantly higher revenue and profit margins. It makes sense, well trained employees who have participated in workshops relevant to their role will do a better job in their work, resulting in better organizational outcomes.
Conclusion
There are many statistics found within the corporate training industry that are staggering, and truly demonstrate the growth and trends in the industry. By reviewing industry stats, you can better understand your trainee’s needs and plan your workshops accordingly.
Did we miss any interesting training industry statistics? Let us know in the comments below!
Posted by Katelyn Roy on
Very helpful article for getting insight to obvious and hidden opportunities in training and learning .
A significant impact is being made in creating the awareness in the continuous development of human resources skills in the new normal.