IIFX TRAINING HUB™
The Innovation Institute for Fan Experience is invested in lifelong learning for its members and the professional development of the sports and entertainment industry workforce.
Before the COVID-19 pandemic, research showed that today’s workforce is less inclined to remain with a single company or organization, but may stay longer if offered opportunities to develop new skills and capabilities, gain experience, and have a path to advancement.
Given the unrealized opportunity costs associated with the loss of an experienced employee and the recruiting and training costs for a new employee, today’s sports and entertainment organizations could retain up to 94% of their Millennials and Generation Z workers if they invest in their professional development.
It is within this context that IIFX offers its Skilling Hub, a gateway to the future.
WHAT IS A TRAINING HUB?
The concept of a learning hub comes from the earliest days of peer-to-peer sharing of music at the turn of the 21st century. It is comprised of physical and virtual components that can be used to create an engaging digital learning experience.
Today, emphasis has shifted to skills training to providing people with opportunities to enhance their current skill set and learn new skills.
The IIFX Training Hub™ also features innovative delivery systems such as augmented reality and virtual reality, with our partner PIXOVR.
The IIFX Training Hub™ includes the ASPIRE program, a pilot training program featuring virtual reality training for five sports & entertainment venues that begins in 2024. The ASPIRE program features PIXOVR and is the result of a generous grant from Intel .
Whether branded learning, training, or skilling hubs, they provide formal and informal opportunities for learners to come together with peers, practitioners, thought leaders, and other experts in their field.
Learning, training, and skilling hubs can serve as repositories of the body of knowledge for industry practitioners, providing them access to relevant knowledge and information.
The IIFX Training Hub can serve as a focal point to enlist support from the wider industry and educators to help industry practitioners grow and find new opportunities to improve their livelihood.
WHY A TRAINING HUB?
Between 2005-2014 the number of people enrolled in at least one online course grew from 3.2 million to 18.65 million, a 483% increase. In 2017, more than 6 million people were enrolled in online degree programs, with projections to grow to 10 million in 2020. Then the COVID-19 pandemic struck, sending students and employees to their homes and more than tripling online enrollment. Consider the online learning statistics as of May 2023 (Peck, 2023)
- Worldwide, 49% of students have completed some sort of online learning
- Online learning is the fastest-growing market in the education industry – it has grown 900% since its creation in 2000
- 70% of students say online learning is better than traditional classroom learning
- The number of online learning users is expected to increase to 57 million by 2027
- 80% of businesses now offer online learning or training solutions
- 63% of students in the US engage in online learning activities daily
- Online learning can increase student and employee retention to as much as 50%
- Online learning can reduce the time needed to learn a subject by 40% to 60%
- The online learning industry is projected to be worth more than $370 billion by 2026
- Online learning and training can improve employee performance by 15% to 25%
People are conditioned to learning online, the network infrastructure supports such learning, and the demand for online skilling courses continues to grow. Thus, the time is right for the IIFX Training Hub™.
SOURCE: Peck, D. (2023, May 4). Online learning statistics: The ultimate list in 2023: Devlin Peck. Devlin Peck.