IFS Skillnet Research Reveals Employees Prefer Online Learning to In-person

A new research report, which surveyed workers in the international financial services sector, has found that the way employees engage with work-related learning and development (L&D) has been irrevocably changed over the last five years.  

Meaningful shifts in employee preferences were observed in research commissioned by IFS Skillnet and carried out by Amárach and the Institute of Bankers (IOB), with significant insights for how firms should best structure their internal L&D programmes.  

Minister of State at the Department for Further and Higher Education, Research, Innovation and Science, Marian Harkin, TD, said; “I am very pleased to be here today to launch this valuable piece of research. It gives clear insights into the skills and education space within the international finance sector and takes the pulse on both the challenges and opportunities for learning and career development for people working in this area, and for indeed those that are employing them. The importance of lifelong learning for both personal advancement and as a part of any career pathway, cannot be underestimated and I commend the IFS Skillnet for shining a light on this important part of doing business, for Irish companies.”  

The key findings include:  

• 83% of respondents said their preference for the way L&D is delivered has changed over the last five years  
• Digital delivery is increasingly preferred, with virtual programmes delivered by an instructor the clear preference of respondents. In-person programmes were materially less popular than a variety of digital options presented to respondents  
• The increase in working from home is a key driver of changes in preferences: in-person programmes offered in central locations will find it more difficult to secure participation  
• Commitments outside work are the biggest barrier to uptake of L&D programmes  

Mark Jordan, Chief Executive, Skillnet Ireland, said; “I’d like to thank the Minister for launching this important piece of research for the financial services sector. The IFS Skillnet has identified important takeaways for the companies in its network and for all companies operating in the financial services sector within Ireland. Skillnet Ireland provides supports to businesses through upskilling initiatives, designed to enhance competitiveness and create well positioned strategic thinking, which enable companies to be ready, and meet the challenges of the future of work. The ways in which people learn and grow in their careers, is changing all the time, and it is great to see how the IFS Skillnet, one of 70 Skillnet Business Networks, is preparing companies within the sector, to keep pace with these transitions.”  

Patricia Callan, Director of Financial Services Ireland and Promoter, IFS Skillnet, said: “This important research clearly demonstrates the revolution that has taken place in employees’ L&D preferences. For firms who want to embed L&D at the heart of their organisations, it is clear that employees need time and space to engage in and complete programmes. The increasing importance of digital delivery is another key insight, and is also clear that courses with accreditation are preferred by staff. We encourage firms to review these findings and use them to ensure their own L&D programmes are set up to deliver the best outcomes for their organisations and staff.”  

Respondents said other key barriers to L&D uptake include cost, time away from work responsibilities, and a lack of offerings tailored to how the individual employee liked to learn.   

A key driver of the changes observed over the last five years was the Covid 19 pandemic, which increased learners’ comfort with the virtual learning format across industries. Another international trend observed in the research was that teaching during the pandemic became more student-centred, with greater use of activities such as case studies, simulations and games.  

It is clear that employees see online formats as convenient for learning solutions, with a wide variety of different online formats preferred to in-person learning by the respondents to the survey, including recorded lectures delivered by an instructor.    

The full 'Learning and Development Preferences in  the IFS Sector' report is available to download, here.