Companies adopting an LMS end up cutting training and development costs in the long run.
How? Well, for one, a sound learning management system can help you avoid hosting expensive, in-person trainings. For companies with staff members all across the country, or even the world, bringing people together for training is extremely costly. In person training expenses can involve travel, booking space, and hiring trainers- all for a one time training event. An LMS also allows trainers and learners to work online, cutting out the need for expensive, printed training manuals and handbooks.
An LMS allows companies to provide training whenever or wherever they want thanks to its cloud-based properties. Companies don’t have to worry about the time consuming task of scheduling training sessions and trying to get everybody to agree to a specific date or time.
Users can log-on on their own time and complete courses at their own pace. This cuts down on time away from the office and allows employees to prioritize their time more effectively. Having training content at their fingertips allows learners to move at their own speed, jumping forward or returning to a specific part of the training when they need to.
One big task that most companies have to face is managing, updating, and organizing their training content. This may seem simple to do when you have a small team and small number of training topics.
But what if you have to deal with hundreds of people, dozens of departments, and a huge variety of training topics? Getting all your materials organized, distributed, evaluated, and archived can be a huge nightmare!
That is why most companies are now using an LMS. Managing training in a central location allows you to scale your training over time. Not only can you manage your content more easily, but you can also oversee everything from user registration, course attendance, and statistics from a centralized dashboard.
The best thing about running a business is watching it grow. However, with growing revenue and success comes more to manage. That means hiring new people, setting up new departments, and updating products or services. This kind of growth is only manageable when you have a training system in place that keeps your current and new staff members up to date.
Companies with an LMS are prepared to manage growth and scale their training. They can easily assign previous training modules, update current content, or add new training materials.
When it comes to successful companies, data is king. The way a business handles its training should be no different. An LMS shines when it comes to this as companies can easily track their employees’ training performance as well as make sure that everyone is on track with their professional training goals and requirements.
Learning analytics can also identify which training module users are having trouble with and which they excel at so managers can provide personalized support to their staff members. Metrics from an LMS allow the training and development teams to identify which modules are effective. For example, when reviewing analytics, L&D teams may see larger trends that show that a module is too difficult or too easy for users and can adjust accordingly.
Companies who have online training programs may also be able to use them to generate revenue. Remember, it’s not only internal employees who may be interested in your great training content.
Smart companies can get more from their existing content by marketing it to a wider audience and charging course fees. For example, many professional associations often provide courses, past webinars, or recorded conference sessions for a fee.
Let’s face it, training is an essential part of any business. Proper training helps your employees keep up with new product features or acquire the skills they need to improve their work. Without an easy to use training system, compliance is harder to manage and companies aren’t able to grow or scale as quickly as they want.
With an LMS, companies can get the benefit of a well trained workforce at less cost than other training strategies. Plus, an LMS allows companies to easily create or update content based on performance analytics and shifts in business strategy. Smart companies can even generate revenue with their LMS and learning content.
It’s easy to make a case for why an LMS is a potent training tool every company should have!