As per GMI’s report published last April 2022, the size of the global e-learning market, from 2022 to 2028, is expected to grow at 20% CAGR. E-learning, or virtual training, takes place in realtime on a virtual learning platform or program like G Meet,Zoom, Skype, or Teams.This type ofinstruction can still be synchronous, collaborative, interactive, and—certainly—real.
Cost-effectiveness, remote conductibility, and availability of free and engaging learning tools are only some highlights of virtual training.
But, how effective has virtual training been when applied within a professional situation?
COVID-19 Crisis and the Changing Corporate Culture
Well over 50% of the day’s working hours were already being completed using technology-based approaches and on the site. The arrival of the still-lingering pandemic abruptly stopped in-person co-working, and virtual conference rooms soared at the hastiest rate. More and more scalable technologies quickly came around to facilitate work-related activities across businesses.
Corporate training encapsulates a set of learning exercises created to help employees become more effective in their jobs. Such time-to-time training sessions improve employees’ performance, productivity, motivation, and retention, which in turn aids businesses in achieving their objectives. There are two kinds of corporate training techniques—virtual and actual—and we will be discussing the former here.
The research anticipates that the corporate training world market will grow at a CAGR of 8% and will have hit $487.3 billion by 2030.
Cost-effectiveness, remote conductibility, and availability of free and engaging learning tools are only a few of the highlights of virtual training. But how effective has it been when applied within a professional situation?
Innovative Inclusions to further the effectuality of Virtual Programs
Although things are returning to normalcy, business owners do not seem to mind retaining the element of hybridity in their work model. It not only saves them renting lavish office spaces, the employees and the employer, both, are able to juggle a greater number of tasks during the time that would otherwise have been wasted away over traveling. Today, companies are looking for the latest virtual gears—because the newer, the more efficient—to achieve increased output in a less amount of time.
Here are some of the virtually includable tech tricks that are submerging the scene with each passing day:
- Virtual Reality (VR) for employee upskilling and reskilling: The vivid quality of modern-day VR technology makes it possible to effectively practice highly complex operations. VR headsets, for instance, can be used to realize wholesome training by connecting to actual instruments and sensors to generate an audio-visual experience. This strategy may be advantageous for training that involves any sort of risk such as manufacturing, construction, freight handling, and even race driving, among numerous others. They are all dangerous environments to train in. Let’s take the latest case of medical officers providing service in red-zoned districts (areas facing 15 Corona cases or above):
On-the-job “hard skills” training can be costing financially and physically both in the above situation. Thankfully, businesses are becoming more aware of how useful hands-on training can be safely delivered through VR in a safe manner.
According to PwC’s Seeing is Believing global report, the VR industry’s value will increase dramatically over the following eight years, going from $60 billion in 2022 to $450.5 billion by 2030.
- Augmented training with Augmented Reality (AR): In contrast to VR, which creates a whole digital world, AR layers digital data on top of a real-world setting. AR has lately been so around, for a good while, that we have started taking it for granted. You can slip into a randomly picked pair of dear designer jeans without having to get out of your cozy shorts – how about that!
Imagine a surgeon executing a delicate treatment for the first time. That surgical trainee can practice the procedure sweat-free in the simulated work environment of AR training.
In the same PwC’s Seeing is Believing global report, the AR industry, over the next eight years, will enjoy a rapid expansion from $146.5 billion in 2022 to an astonishing $1,092.4 billion by 2030.
Attitudes of the Trainer and participants toward e-Learning
Investing in training programs affects both participating parties, i.e., the firm and the workers. It makes sense that understanding the perspectives of the training targets is at least as important as should be understanding the benefits of it for the business.
Simplilearn recently conducted a survey on he impact the COVID crisis is having on staff training programs. The surveyor posed a number of inquiries to experts in the fields of learning and development and HR from all over the world of all the responses compiled, Simplilearn’s poll garnered the bulk of feedback from representatives of businesses in India (39%) and the USA (41%). It was found out that:
The online sessions are at least as effective as classroom sessions, according to 82% of respondents whose firms have transferred employee skill training sessions online; 13% thought online training was more efficient than in-person instruction.