Benefits of a Learning Management System (LMS)
If you are toying with the idea of whether or not to opt for a Learning Management System (LMS), then you need to be aware that hundreds of thousands of organisations who have made that very crucial decision, have had to deal with similar analysis which you are probably presently going through. However, the good news for you is that these organisations have provided several benefits of purchasing an LMS which should help you in your decision making. So, let’s take a look at some of the top reasons/benefits owing to which these organisations opted to purchase an LMS.
Augments the accessibility of elearning
While as an organisation you may be having content already for Elearning, but without a single, branded portal for deploying your e-learning courses. If you do not have an LMS, your elearning modules are bound to be haphazardly distributed, either through email or sometimes by saving and sharing it via a shared folder/drive which has the huge risk of being accidentally deleted. If you have a Learning Management System, you will no longer have such issues. By default, an LMS provides a one stop shop for your e-learning initiatives. It provides you with a single repository within you can house your e-learning courses. It also offers a single point of access for learners so that they can access the learning via a designated portal. This increases the accessibility of e-learning thereby increasing the probability of it being taken by a maximum number of learners. Hence, it justifies your e-learning investment.
Reduces the training administration overhead costs
Similar to any corporate initiative, if you need to roll out a training program, it has its own set of overhead costs and requirements. For instance, it is not at all a joke to manage instructors, resources, equipment, hundreds of web-based training modules, as well as keeping track of the performance of the learners without an LMS. When these need to be managed without a Learning Management System, it is nothing but a real-life administrative nightmare. LMS on the other hand, streamlines these concerns by automating the administrative process with a virtual assistant that handles these details effectively, sans any complaints, and offering 24/7 service. All these contribute significantly to bring down the training administration overhead costs.
Facilitates an integrated curriculum pertaining to relevant roles
Since an LMS is database-driven, it not only provides a centralised mode of administration but dint of centralisation, it is able to assign every user a unique identifier. Once a unique identifier is linked to an individual’s role, it then becomes quite easy to create a training program that is tailor made for each role. Customisation facilitates a curriculum that is integrated and relevant with the tasks that need to be performed by your employees on a daily basis. It enables you to manage the learning for your end-users, without them having to navigate the system themselves and selecting the learning that they assume whether accurately or not — is appropriate for their role. LMS assures consistency and integrity.
Improve compliance through a Learning Management System
Mandatory compliance trainings are essential these days in almost all organisations so that they are covered against negligence based lawsuits. While it is one thing to offer training and another thing to maintain track of the employees who took the training and then have a record of the same to display as an affirmative defence during the time of compliance audits. If you have an LMS, this issue is sorted out. A LMS has monitoring and auditing capabilities that are built into its database. The LMS provides a verifiable record of training completion that can hold significance during any judicial inquiry or any potential lawsuits.
Streamlines training for new hires
For growing organisations, where new hires are constantly being recruited, one of the crucial concerns is to train them all at once and effectively. The new hires need to be trained on a variety of topics right from office policies to job-specific related procedures to compliance regulations and even domain specific training. If your organisation has a Learning Management System, you can streamline this training process smoothly, and also provide a verifiable record of the learning that has occurred (via a consistent curriculum). This considerably reduces the amount of time spent on the on-boarding process of new hires.
Providing value added perks to employees thereby helping in retention
In a competitive business environment, there are other ways to keep your employees happy other than financial perks (which cannot be raised now and then) and that is by providing them with certain value-added perks to help them in their career graph and eventually make them stick around longer in the organisation. One such aspect is helping employees gain new skills and knowledge via various training programs so that it becomes a value add to their resumes. Since an LMS provides the ability for learners to learn anywhere, anytime, employees can take this advantage and take these training from the comfort of their homes, without having to spend that time in the office. It saves the employee the trouble of commuting to work, while still ensuring that the training is happening because it can be measured just as effectively in their home environment as well.
Cost effective from a training perspective
Hiring an external trainer or sending instructors from one location to location is quite an expensive way of training your employees, as there are significant travel costs involved. A lot of training is delivered by subject matter experts who need to be paid every instructional hour which includes even their preparation time. Also a lot of times, the training space needs to be rented, which involves another key cost. Having an LMS facilitates web-based training and virtual classroom training which are so much more cost effective.
Facilitating better business decisions
Since an LMS is inherently a database-centric initiative, it gathers various kinds of significant data such as how many courses the learners are taking, how fast are they completing these courses, the performance level of the learners, the quality of the assessment questions within the courses, and so on. All these data can be synchronised with other business analytics to determine the ROI for the training initiative taken by the organisation.
Improving customer satisfaction
If the employees of an organisation are not well trained, they cannot provide ace customer service.
Similarly, training is not just meant for employees. It can even be delivered to customers and increase their satisfaction level by offering training programs in areas of interest to them. You can lure your existing customer to your website and ensure that they have positive experiences of the plethora of training repository by dint of a Learning Management System, which probably your competition may not necessarily be offering.
Since hundreds of thousands of LMS installations are taking place across the globe, it is quite obvious that these businesses understand the significance of having an LMS for their training needs and also for deploying training as the business. The best way to find out what wonders can an LMS can do for your business is to purchase and install one, and enjoy the experience of acquiring your real-time data.