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What does the “e” in eLearning stand for?

Apr 16, 2018 by Donna Coppock 0 Comments
eLearningLogo_LogoHead_Pixels

Anyone familiar with The Great Game of Business knows we love our “e”s around here! In fact, we use three of them to describe what happens when a business uses our proven operating system—everyone’s educated, empowered and engaged! See what I mean?

So, while everyone else thinks the “e” in eLearning stands for electronic (and of course, it does), we can’t stop at just one “e”. Conveniently, just like The Great Game of Business, eLearning educates, empowers and engages everyone! Lots of “e”s!

EDUCATE: eLearning is simply a more efficient and effective way to educate a workforce in finances. I wonder how many “e”s I can work into this blog! Seriously, studies show:

  • eLearning can cover 5x more material than classroom training in the same amount of time spent1
  • eLearning students have a 60% faster learning curve than students in traditional training2
  • eLearning increases learner retention rates up to 60% over other training methods3

Studies by Brandon Hall and others have also made it increasingly clear that employees have a better attitude toward the eLearning format of financial literacy training in general. As a result, employers are seeing improved scores on tests, certifications and other evaluations and an increase in the number of learners who achieve “mastery” level. Another benefit reported by both employees and employers alike is a greater ability to apply new knowledge on the job.

EMPOWER: To empower is to give official authority to or to enable. eLearning gives the learner the authority to manage their own learning experience. They are empowered to choose when, where, how and at what pace they want to learn, becoming the masters of their own education.

Establishing a rhythm that suits their individual needs allows employees to become thinkers/learners/risk takers in a non-threatening environment. And with no teacher to rely on, they become the kind of problem solvers every company needs!

ENGAGE: Just imagine if you had loved every single lesson you’ve ever been taught. What if your learning experiences had been a little different, a bit more engaging? Just think about the impact that would have had on your career, on your life! The point is, when we’re engaged in our learning, we become motivated to learn and start to not only love learning but become passionate about it.

Interactivity is the key to boosting a learner’s engagement. Effective eLearning (like the kind you’ll find at elearning.greatgame.com) engages learners with two types of interactivity:

  • Onscreen actions – viewing and doing experiences that cause the learner to “lean in” to the learning (interact with the screen)
  • In-brain actions – exercises that require the learner to process what they’ve learned and demonstrate understanding (interact with the content)

In addition, research shows that attention spans are getting shorter and shorter. The eLearning platform lends itself to the great graphics, fast-paced videos and variety of activities that not only grab the learner’s attention but also meet the learning objectives of the course.

Everyone! 25% of employees leave their jobs because there aren’t enough training or development opportunities available to them.4 elearning eliminates the typical barriers to extensive, inclusive training—cost, time, convenience—and puts knowledge at employees’ fingertips whenever they need it, shrinking the skills and knowledge gap throughout the organization.

At the Great Game of Business, we love what we call a “win-win” scenario and often use the phrase “the bottom-line is”. Nothing makes me happier than to tell you when it comes to adding elearning to your training efforts, the bottom-line is it’s a win-win—the company wins and employees win!

  1. The Information Daily
  2. LearnFrame
  3. Research Institute of America
  4. elearningindustry.com

 

elearning is not the future. It’s now.


 

Learn more about our eLearning workforce financial literacy platform and how you can use it to educated, empower and engage ALL your employees.  Plus - you can try out our free introductory course right now!

Try eLearning NOW

Topics: Financial Literacy, Education

Donna Coppock
Written by Donna Coppock

About The Great Game of Business

Our approach to running a company was developed to help close one of the biggest gaps in business: the gap between managers and employees. We call our open-book approach The Great Game of Business. What lies at the heart of The Game is a very simple proposition: The best, most efficient, most profitable way to operate a business is to give everybody in the company a voice in saying how the company is run and a stake in the outcome. Let us teach you how to develop a culture of ownership, where employees think, act and feel like owners.