Corporate learning and development (L&D) is an essential aspect of any business, as it helps employees stay up-to-date with the latest skills and knowledge needed to perform their jobs effectively. In recent years, there have been significant shifts in the way companies approach L&D, and this trend is expected to continue in 2023 and beyond.
According to Mckinsey, 58% of companies say that closing skill gaps has become a priority since the pandemic began, and 69% are engaging in more skill-building than before the crisis.
Here are some key trends to watch out for in the realm of corporate L&D in the coming year:
Personalized learning experiences: One of the biggest trends in corporate L&D is the shift towards personalized learning experiences. This means that rather than a one-size-fits-all approach, companies are tailoring learning programs to individual employees’ specific needs and preferences. This can be done through the use of data and analytics to identify areas where employees need the most support, as well as through the use of adaptive learning technology that adjusts the content and difficulty of learning materials based on individual progress.
Microlearning: Another trend in corporate L&D is the use of microlearning, which involves delivering learning content in small, bite-sized chunks.
This approach is especially popular in the digital age, as it allows employees to learn at their own pace and on their own time, rather than being confined to a specific location or schedule. Microlearning can take many forms, including short videos, interactive quizzes, and even games.
According to one study, microlearning is 17% more effective than full-length coursework. When surveyed, 58% of workers preferred microlearning over traditional formats.
Gamification: Gamification is the use of game-like elements, such as points, badges, and leaderboards, in non-game contexts. This trend is increasingly being applied to corporate L&D, as it can make learning more engaging and enjoyable for employees.
Gamification can also motivate employees to complete learning tasks and track their progress.
4. Mobile-based learning: Today, 67% of companies use mobile learning for training their employees and according to research, 70% of learners are motivated to learn using mobile devices and mobile learning can boost productivity by 43%.
As the use of smartphones and other mobile devices continues to grow, companies will leverage mobile technology to create learning experiences that are accessible anytime, anywhere.
5. Interactive Learning: Rather than traditional, lecture-based approaches, companies will increasingly adopt interactive learning methods that engage and involve employees in the learning process. This may include group discussions and role-playing exercises.
6. Simulation-based learning: From virtual reality to gamification, companies will use simulation-based techniques to create immersive and engaging learning experiences. These approaches can help to improve retention and make learning more enjoyable for employees.
For example, VR can be used to simulate real-world situations, such as customer interactions or workplace emergencies, allowing employees to practice and hone their skills in a safe and controlled environment. AR, on the other hand, involves overlaying digital content in the real world, providing a more interactive learning experience.
Interesting fact: Simulation-based learning can increase employees’ productivity levels in an organization by 80%.
In conclusion, corporate L&D is undergoing significant changes, and these trends are expected to continue in 2023 and beyond.
How Can E-Learning Bring A Disruptive Transformation By Providing An Inclusive Learning Ecosystem?
Gone are the days when you had to go to classrooms to gain knowledge on a subject. Now, all you need is a mobile phone to get access to all the things in the world.
This is the disruption that e-learning has brought to the learning industry. With the evolution of the e-learning industry, learning has become much more fun and convenient.
It has provided an inclusive learning ecosystem where time, place, economic and physical conditions, and language are no longer a barrier.
Earlier, if 20 students were in a class, all of them had to learn the same thing irrespective of their choices or preference. But with e-learning, one can customize what they want to learn, thus being more efficient and saving a lot of time.
Some specific ways in which e-learning has bought a disruption into the e-learning space are:
- Increased accessibility: Elearning makes education more accessible, as it can be delivered online and does not require individuals to be physically present in a classroom. This is particularly beneficial for people who live in remote areas or have busy schedules.
- Flexibility: E-learning allows individuals to learn at their own pace as well as to choose when and where they want to study. This can be particularly helpful for working professionals who need to balance their studies with other commitments.
- Cost-Savings: E-learning can be more cost-effective than traditional in-person education as it eliminates the need for students to travel or pay for accommodation.
- Greater choice of courses: E-learning platforms offer a wide range of courses and educational resources that may not be available in traditional educational institutions.
Considering the above factors, The Global Corporate E-learning Market is expected to grow by $44908.64 mn during 2023-2027, accelerating at a CAGR of 12.19% during the forecast period, says a report by Reportlinker.
Thus by providing flexible and convenient access to educational materials and resources, e-learning can help corporate professionals to continue learning and developing their skills and knowledge throughout their careers.
Interesting Fact-Companies that provide eLearning have more than 25% more revenue per employee, according to 40% of businesses that claim it has helped them increase revenue levels.
How Outsourcing Corporate Learnings to Specialists can give a Competitive Edge?
94% of employees say that they would stay at a company longer if there is an investment in their learning and development, says a report by Linkedin Learning.
Outsourcing corporate learning to specialists can be a beneficial approach for companies for several reasons. Here are some potential benefits:
- Expertise: Specialists in corporate learning have the necessary knowledge and experience to design and deliver effective training programs. They can help ensure that the content is relevant, engaging, and aligned with the company’s goals.
- Cost-effectiveness: Outsourcing can often be more cost-effective than developing in-house training programs. Specialists can also help a company identify the most efficient and cost-effective delivery methods, such as online or blended learning.
- Time-saving: Outsourcing allows companies to focus on their core business activities, rather than spending time and resources on developing and delivering training programs. This can be especially important for small or medium-sized businesses that may not have the internal resources to devote to training.
- Flexibility: Specialists can help a company create customized training programs that are tailored to the specific needs and goals of the organization. This can be more effective than using off-the-shelf training programs.
- Competitive edge: Companies that invest in employee training and development are often better able to attract and retain top talent. This can give them a competitive edge in the marketplace. In addition, investing in training can help employees stay up-to-date on the latest industry trends and technologies, which can help the company stay ahead of the competition.
As the demand for reducing skill gaps in corporate is rising, the future of corporate learning and development is bright and likely to be heavily influenced by the continued growth of e-learning.
As technology continues to advance and organizations increasingly adopt online learning strategies, e-learning is likely to become an even more integral part of the corporate training and development landscape.
And, outsourcing it to specialists like Audio bridge can ensure that you are bringing expertise into the subject that can give you a competitive edge among others.