Lokesh Nigam
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November 28, 2022
According to the latest statistics, the global e-learning market is expected to reach USD 400 billion by 2026, growing at a CAGR of 7.5%. Infact, in 2019, the global e-learning market was sized at USD 200 billion, whereas the learning management system (LMS) market generated about USD18 billion.
Organisations are riding this wave by setting up their own robust learning marketplaces that benefit the employees and the organisation in the long run. The digital landscape is snowballing, and every individual is looking to upskill or reskill is opting for e-learning. Whether it was during the pandemic or learning across borders, e-learning is here to stay.
Online learning is not just a teacher and a student learning about a concept. E-learning is learning through digital devices. Many universities worldwide have short-term and long-term certification and degree courses to help students learn and upskill from the comfort of their homes.
Apart from the education and ed-tech industries, online learning has fuelled the growth of the corporate sector as most big organisations are building their learning marketplaces to provide e-learning to their employees for training and development purposes.
From Coursera to Udemy, Skillshare, and others, each e-learning platform offers a wide range of courses. Infact, many of these platforms have teamed up with corporates to provide learning opportunities to their employees.
This article will cover some critical aspects of learning marketplaces for an organisation and how you can create one for your company.
Offering e-learning to your employees via a learning marketplace has many benefits!
Employees often find themselves looking for information or knowledge about a tool or process to help them solve a task at work. While online searches are always available, finding in-house resources on the company’s learning marketplace is priceless. The easy access to information can help differentiate your employee experience and help your organisations create a niche within the industry.
E-learning is cost-effective for organisations as it can drive learning faster and ensure affordable upskilling of employees. Additionally, they also benefit from improved productivity and better employee retention.
As employees are constantly upgrading themselves on online portals, they are more likely to perform well in their roles, and this productivity boost also helps the organisation’s success.
Learning allows employees to interact with each other and improves team engagement. Learning marketplaces enable employees to choose a subject of interest and apply what they learn to their work immediately. This interactive portal, therefore, helps improve employee retention and loyalty.
With a learning marketplace, you offer your employees the freedom to choose a course or micro-course per their requirements, and all they need to do is log in to your company’s learning portal and start learning!
Many employees avoid taking up further learning opportunities for fear of extra cost, loss of leaves, and pay. However, when companies create learning marketplaces, they create a risk-free learning environment for employees.
Creating a learning marketplace for your employees ensures consistency and standardisation in terms of training and content. Offering well-curated courses and the curriculum ensures all employees in a team are on the same page, save your business time, effort, and expense, and offers employees the freedom to learn anywhere and anytime.
8. Can kickstart learning in the flow of work
The content provided on the marketplace can drive performance-driven learning where employees can easily find answers to a question or short piece of content that help solve performance and work-related problems on a daily basis.
All set to create your very own online learning marketplace? Here’s how to get going!
#1 Choose a platform
The ultimate goal of an e-learning platform is to ensure your employees have an exciting learning journey. To begin, you must choose a suitable e-learning partner that offers a seamless user interface, is responsive, and is easily navigable. A slow, unresponsive learning platform can be a put-off for employees who access it to learn something that may help their role.
#2 Identify your employee needs and requirements
A successful learning marketplace caters to employees across all departments, verticals, and levels. Depending on the business goals, companies can create several user profiles and match them with employee numbers to align them with what is most relevant to them. This will help employees find courses that are most relevant for them.
Conducting regular surveys is helpful in the continuous creation of content based on what your employees need. Allow open communication between employees and the trainers to help the latter understand what your employees are looking for.
#3 Customisable the platform
When choosing a learning marketplace platform, you must look for one that is customisable to suit your organisational needs. A flexible platform also enables you to modify your marketplace tools and courses depending on the statistics and metrics obtained from analytics.
#4 Ensure your learning marketplace is mobile-friendly
While you ensure your employees can access the marketplace anytime, from anywhere, you must also ensure it is accessible on mobile phones and tablets. The experience your employees get on their mobile phones or other portable electronic devices must be the same as on the web.
#5 Add responsive features
To keep your employees engaged and improve their experience in the marketplace, it is essential to add features such as:
#6 Real-time dashboard
A great addition to your learning marketplace platform is a real-time dashboard that gives your employees an insight into their learning curve and all they can learn to advance in their role or job in the organisation. This helps boost employee productivity and helps organisations keep track of their employees’ learning progress.
While setting up a learning marketplace, it is common for organisations to encounter a few challenges. However, companies must keep the portal user-friendly, support various media types, and be engaging, relevant, and cost-effective.
Do you need help creating your organisation’s learning marketplace or strengthening it? Allow us at Kognoz to assist you!
References
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