Companies now seek to acquire knowledge, and explore new solutions to problems by exploiting them to improve efficiency. This helps them on a competitive level to advance in the marketplace. Such a technique is called ‘corporate learning’, which is on the rise in the millennial era.
While analyzing Deloitte’s most recent research, we find that older corporate learning methods, though manageable and formal, are losing their appeal. To make this even more congruent, the priority for corporate learning has increased. The research shows that implementing changes to careers and learning is now the second most important issue in business as it creates urgency and budget in this area.
These changes will disrupt the flow of the learning management systems (LMS). Companies like IBM, Sears, and Visa are starting to turn off their old systems and build a new generation of learning infrastructure that looks more like a “learning network” and less like a single integrated platform. While corporate compliance and mandatory training will never disappear, these are now becoming back-office functions, making the LMS far less strategic than it once was.
This is pushing other companies to reinvent the LMS — focusing on developing video-learning platforms that feel more like YouTube, than an educational course catalog. These products are however new and difficult to implement in a small amount of time. For instance, MOOCs (Massive Open Online Course), once considered a panacea for corporate training, continue to grow — but employees tell us they are useful for job transitions and career changes, not really to support their day to day needs. Research on MOOCs shows that while enrollments continue to climb, ongoing engagement remains low. Consequently, companies are shifting their business models toward certificates and other types of degrees that encourage and reward students for finishing a course.
From the sample interviewed by Deloitte, employees appear to be needing these changes. Because of the overwhelming feeling of stress at work, employees have approximately less than an hour a week to set aside for learning. Thus, rather than producing two to three hour-long “courses” that require page-turning and watching slow videos or animations, employees should be offered learning on-demand, and recommended content, as and when needed.
We are living longer, jobs are changing faster than ever, and automation is impinging on our work lives more every day. If we cannot look things up, learn quickly, and find new ways to develop our skills at work, most of us would prefer to change the job, rather than stay at a place which does not favour growth and reinvention.5