We are living in a world where information technology has taken the center stage. It’s changing every aspect of the business world. From Research and product design to managing teams and developing processes, digital technologies are playing a pivotal role in making companies more competitive.
The massive transformation in the digital world has also impacted the Learning and Development (L&D) domain. Gone are the days when all the employees used to sit in a single conference room to attend a standardized training session.
The evolution of businesses and work culture accompanied with the disastrous COVID-19 has immensely impacted the way organizations view and carry out L&D activities. According to a report, 80% of organizational leaders now prefer increased digital learning resources and new training techniques.
Let us look at the changing trends in the L&D space and how digital technologies are impacting the overall industry.
The Need of Rapid Reskilling
Teachers were badly impacted by COVID-19. The sudden transformation from in-person classroom setting to virtual classes made it difficult for them to adopt to new digital tools. This was the story of every other working professional.
According to World Economic Forum, by 2025, 50% of the entire workforce will have to be reskilled. Employees will have to embrace the tech adoption wave and continue to learn new online tools.
The challenges of remote working have forced organizations to modify their approach and find new training methods to upskill and reskill their employees.
The Advent of New Technologies
Artificial intelligence has been a hot topic for the past several years. The technology has also made its inroads into the L&D space. Among other features, personalized content recommendations and data analytics are two that has elevated the online learning space.
In addition, the L&D teams are also fond of AR/VR. We have seen lack of team engagement with video-based conference tools. The advent of AR/VR has changed the game altogether. The immersive experience helps employees to get hands-on experience and improves their engagement level as well.
Furthermore, we are also witnessing learning management systems (LMS) offering customized learning experience to workers. These systems track individual performances and provides them with tools to learn at their own pace.
More emphasis on soft skills
A study shows that people skills account for 75% in the long-term job success whereas the contribution of technical skills is merely 25%. With the changing dynamics of work, soft skills are really becoming a priority for the L&D teams. As face-to-face trainings are difficult, the team rely on virtual trainings and various gamification methods to up skill the employees in the soft-skill domain.
The Rise in learning platforms
The overall market for online education might hit $350 Billion by 2025. This staggering number shows how digital platforms are allowing people to complete their education and learn new skills. For employees specifically this is a gold mine. For starters, with AI and ML embedded the platforms understands individual learning needs through pattern recognition and offers customized content. In addition, it allows people to be more flexible in terms of attending the courses at their convenience. Furthermore, the lower cost structure is also another factor people opt for online learning.
Some of the major online learning platforms include Coursera, Udemy, Skills share and Udacity.
Organizations, as a result of the current pandemic, have changed their approach and moved to online learning as opposed to face-to-face trainings. The introduction of modern technologies has made it easier for L&D teams to make trainings more flexible and customized. The future of L&D is digital, the question is what are you doing to enhance your skills and navigate through the new normal?
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