Businesses of all shapes and sizes are having their resolve and ability to adapt sternly tested.
Faced with an economic backdrop of squeezed margins, supply chain crunches and a war for talent, enterprises need to find new ways to operate more efficiently and provide greater value to customers and employees in order to stand out from the crowd.
Labour is arguably the key challenge of the day. Many sectors within the global economy are reporting acute skills shortages and are fronting up to serious competition to attract and retain the best talent.
Adapting to constantly evolving training and development needs is critical to this end. As new skills emerge, old processes and practices become obsolete, and certifications that are critical for professional development expire, employers are challenged to stay one step ahead and ensure their workforce is progressing.
However, all too often we see individuals dropping out of important e-learning certification training programs.
Numerous studies paint a concerning picture. One from the Massachusetts Institute of Technology, carried out in 2019, showed that over the preceding five years online courses recorded an average dropout rate of around 96%. Meanwhile, another from the University of Warwick concludes the completion rate for most online learning courses is below 13%.
This is despite the fact that businesses are investing record amounts into e-learning. Valued at $210 billion in 2021, the global e-learning market is forecast to quadruple to almost $850 billion by the end of this decade.
It is, therefore, simple to quantify the cost of such dramatically high dropout rates. If the vast majority of employees do not complete important training modules, including certification training programs, not only will it render investments wasted, but it could also hamper career development and potentially put firms at a disadvantage in the ongoing battle for skills.
This begs a crucial question: how can training providers ensure that all learners are supported from start to completion, and begin to turn the tide?
A fresh, agile approach to training
Currently, many organisations adopt a traditional one-size-fits-all approach which does not treat employees as individual learners with individual learning needs.
Common consequences include rehashing skills that people already possess, thus wasting time and creating apathy towards the process, which no doubt contributes to poor completion rates. What’s more, because of the blanket approach, this increases the likelihood of enterprises failing to provide the specialised training required for employees to excel in their roles and industries.
Shifting to a non-linear approach need not be as daunting as it may seem. Powerful adaptive learning platforms can do much of the heavy lifting.
These digital solutions, which include platforms such as OBRIZUM, harness artificial intelligence to create, tailor and measure digital learning on a global scale, and at speed. By leveraging data and algorithms, it is possible to take into consideration the unique needs and preferences of each learner in real-time.
Tailoring courses will not only boost learning outcomes but, more importantly, help to drive improved course completion rates and reduce the wasted investment we’re currently seeing across the corporate training space.
OBRIZUM is the AI learning technology & data analytics company for enterprise businesses.
We leverage automation, adaptability and analytics to deliver adaptive learning experiences at scale.
Find out how OBRIZUM can help unlock the potential of your business by speaking to our team.