One of the positive things to come out of the pandemic was companies’ renewed focus on their workforce. The COVID-19 pandemic forced many companies to adapt to new ways of working, and as a result, many recognised the importance of upskilling and reskilling their employees in order to remain competitive and meet changing business needs.
According to a report by LinkedIn Learning, there was a significant increase in the demand for online learning courses in 2020, with learners watching 50% more hours of content than the previous year. The report also found that companies increased their investment in online learning by an average of 59% in 2020.
A survey by Training Industry also found that 84% of companies increased their use of virtual instructor-led training (VILT) in response to the pandemic, and 67% increased their use of e-learning. Additionally, a report by Deloitte found that 66% of organisations plan to increase their investment in reskilling and upskilling over the next year, with digital skills and leadership skills topping the list of priority areas.
This is the first in series i’ll be writing about engagement in learning providing more detail and depth into the strategies mentioned below.
A report by LinkedIn Learning states the average completion rate for online learning courses across all industries and content types is 29%.
Overall, it appears that the pandemic has led to a greater recognition of the importance of L&D, particularly in the areas of digital skills and remote work. As a result, many companies have increased their investment in L&D in order to meet the changing needs of their employees and their businesses.
The average spend for organisations in the UK on L&D typically look like…
- £300 per employee per year for small companies (less than 50 employees)
- £410 per employee per year for medium companies (50-249 employees)
- £1068 per employee per year for large companies (over 100 employees)
Whereas, in Europe…
- €2600 per employee per year for small companies
- €3800 per employee per year for medium companies
- €1173 per employee per year for large companies
Additionally, a survey by LinkedIn Learning found that large companies (with over 10,000 employees) spend an average of $15 million per year on online learning content alone.
So companies invest a huge amount on learning content yet companies struggle to motivate and engage their employees. A report by LinkedIn Learning states the average completion rate for online learning courses across all industries and content types is 29%. This suggests that engagement with learning content is a struggle.
Poor digital experiences greatly hinder engagement in learning. When an LMS or digital learning platform is clunky and challenging to navigate, it discourages users and diminishes their motivation to explore the available learning resources. A subpar user interface further compounds the issue, exacerbating user frustration and reducing their desire to actively participate in learning activities. Moreover, a lack of interactive and engaging content, coupled with inadequate tracking and feedback mechanisms, presents significant challenges for organisations striving to foster engagement in learning. The presence of vast content libraries without proper guidance regarding its relevance to users’ roles and career progression only adds to the complexity and hampers meaningful engagement.
At EC we know that investing in your employees’ development is investing in your company’s success! We have had the pleasure of partnering with numerous organisations to help them improve engagement and get the most out of their L&D spend. Through our experience, we have identified key areas that we focus on to deliver meaningful impact.
Large companies, with over 10,000 employees, spend an average of $15 million per year on online learning content alone.