Issue 105: Show Me The Money 💰
It's our penultimate week featuring the Intellum research report!
This week we're focusing on the question:
- Is there a correlation between the type of education initiative and an increase in revenue?
For our throwback article, we’re going to Vegas! Actually, we’re just revisiting a topic on gambling by answering the question:
- Does incorporating gambling into an LMS increase learner engagement?
Quality over quantity 📈
In Intellum’s recent study of customer education, it was found that companies with curriculum based initiatives had a 60% revenue increase. While companies with Ad-hoc initiatives only saw a 22% increase.
When creating an education initiative, focus on the quality of the content and not the quantity. Having tons of content on your platform without a strategy or awareness of the learner experience (LSW #7) won’t help you see the type of results that impact business goals. Specifically, an increase in revenue. Ensuring that you have the right content will. Content should be created within a strategic, formal, curriculum-based education initiative.
With the daily announcement of layoffs and downsizing, it appears like public and private companies are bracing for an economic downturn in a major way. With tightening budgets, and hiring freezes, it's best practice to firm up education initiatives in a way that can generate and/or positively impact revenue.
Key takeaway: Companies with curriculum-based education initiatives are most likely to experience increased revenue.
Read More (Open): Transforming Organizational Education Initiatives from Cost Center to Profit Center
Is it worth the gamble?🎰
How many people do you know that had to choose a trip to Vegas or a company training? What if you could bring the slots to you without leaving the office?
A study was conducted to determine if an online slot machine is incorporated into a learning management system (LMS), and learners earn “coins” for the machine each time they answer quiz questions correctly, will they be more engaged in the LMS?
Initially, there was an increase in participation from the learners who played the slot machine. However, overtime, this number declined to pre-slot days. The study also revealed that those who chose not to play the slot machine also had declined participation in training.
So, should we all incorporate gambling into our LMSs? Maybe not.
To create better engagement with voluntary training, employers should incorporate approaches that have the following characteristics:
- Simple to engage in
- Can be done frequently
- Generates excitement
- Has a low ‘cost’ of play
Overall, great in theory, it may not be the best idea to include a slot machine in your next training. Whether or not there’s increased engagement depends on the proportion of employees who choose to play and how much they enjoy playing, but also the reactions of learners who may object to the company’s use of such approaches
Key Takeaway: Slot machines are great for Vegas, but perhaps not for your LMS. Organizations should look for other approaches with the characteristics listed above to increase engagement.
Read More ($): Kelly, K., Valtchanov, D., & Webb, A. (2021). Behavioral implications of using an online slot machine game to motivate employees: A cautionary tale. Accounting, Organizations and Society, 89.
Learning Science in the Wild 🦁
We love a good conference, especially ones that are focused on the application of learning science. Intellum is excited to speak or be on site at the following events in October.
October 17-19: TSIA Don't miss "Growing With Education 2023 & Beyond" where Intellum's Director of Education Experience, Chris Baker and VP of Growth, Robyn Hazelton are speaking. Catch them Tuesday 10/18/2022 at 1:15 PM PST.
October 26 - 28: DevLearn
Will we see you at either of these conferences? Tag us and let us know!
Pets of Learning Science Weekly
This week we’re featuring the pals of our reader, Ash. Sassy is her first cat and has made her realize what she’s been missing out on her whole life. Sassy also has a dog buddy name Billie that is “equally as adorable and loving”.
Thanks for sharing!
CLICK HERE to send us your pet pics.
Wondering why we’re including animal photos in a learning science newsletter? It may seem weird, we admit. But we’re banking on the baby schema effect and the “power of Kawaii.” So, send us your cute pet pics -- you’re helping us all learn better!
The LSW Crew
Learning Science Weekly is written and edited through collaboration of the Intellum content and learning science teams.
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