The value of social learning:
- In our formative years, it is the predominant way we learn, and this continues through the years of our formal education and then at the workplace.
- The success of social media channels like Facebook, Twitter, and LinkedIn reaffirms that collaboration and social interactions go a long way in creating a great way to learn, and this approach always creates positive outcomes.
Social learning can happen through many channels, mainly through:
- Collaboration
- Observation
- Interaction with others
- Social learning approaches have a 75:1 ROI ratio over web-based training (Association for Talent Development).
- 82% of businesses that use social technology want to use them in the future (Accenture).
- The course completion rates shot up to 85% on HBX, a Harvard Business School new online education initiative with the introduction of social learning, way better than online-only MOOCs (Harvard Business Review).
- Cisco’s use of social learning to support its transition to a global services organization saw a 98% employee adoption rate in the first year with 80% of learning content socially generated (ChiefLearningOfficer).
- According to a Stanford research, 45% of their physicians benefited from social learning in a medical photo-sharing app for doctors as a patient care related study aid (Stanford Medicine).
- 73% of the surveyed companies expected to increase their focus on social learning and more than 60% wanted their employees to interact with learning resources on a daily basis (Brandon Hall Group).
- AMD, a semiconductor manufacturing company, says their shift to social learning strategy saves more than USD 250,000 per year in web-based training production costs (Kenexa).
- Villeroy & Boch, a large manufacturer of ceramics, deployed a social learning framework for their training courses resulting in a 32% increase on Average Transaction Value with +19% sales in Japan (Curatr).