Will e-learning be accelerated or decelerated by the credit crunch? One thing’s for sure – training budgets and training departments will be hit hard. Some organisations will disappear. Others will not train as they’re laying off staff. Some will take the budget and decimate it, as they need to save money they to simply survive. Some, however, will see learning as a survival mechanism. In this market it may be useful to red, amber or green each sector.
Some green shoots and surprises as a tsunami of cost cutting washes out old stand-up methods and looks for things to be faster, cheaper and scalable.
Financial sector may be surprisingly robust. They’re merging and, as traditional training has clearly failed to have much effect on their behaviour, using e-learning to solve compliance and regulatory pressures.
Defence has guaranteed budgets, for the time being, and the world is a scary place, and getting scarier.
Adult learning as massive unemployment will mean massive retraining needs. Look out for Train to gain and other government initiatives that combat this problem.
Oil and gas are running out so these organisations have to get smarter to survive. Until alternatives are found, we still need to heat, eat and get around. They’ve got us over a barrel.
Challenging but these guys are survivors.
Healthcare will carry on like leeches on our backs.
Telcos will continue to charge too much, feed our addiction and pollute public spaces.
Education will drag itself into the 21st century - maybe.
Government departments will be squeezed but benefits and training will not.
Blood all over the classrooms in these sectors.
Automotive’s a multiple pile up. They’ve been looking in their rear view mirrors for far too long. Some big names are crashing out of business, others will lay off staff. All will have to reduce costs.
Retail is in big trouble. We’ve shopped til we drop and the party’s over. Closing down sales.
Construction has ground to a halt with massive layoffs. Bricks don’t mean clicks.
Airlines will consolidate or crash. The combination of credit and climate crunch is causing them serious pain.
The so called experts didn’t predict the crash, so we can safely assume that they don’t know how long it will last. So, if I were running an e –learning organisation, I’d certainly be rewriting my sales and marketing plan, and readjusting now. I’d also be selling less on learning and more on business benefits. The Next generation Learning campaign has a pretty good list:
1. Achieve more with less - optimise limited budgets and time
2. Gain fast access to learning - available 24x7 at point of need
3. Improve Competitiveness - respond quickly to changing business needs
4. Improve Productivity - skills & knowledge when needed
5. Address statutory learning effectively – faster, better, cheaper compliance
6. Reduce Carbon footprint - reduce travel & meeting costs
7. Harness Informal learning - connect learners with resources and experts
Interestingly, I’ve heard of layoffs by some e-learning suppliers and in-house departments, but increased sales in others. This confirms my view that there’s pain and gain, depending on what you do and for whom.