Let’s start things off with the basics- what is a Learning Management System? A Learning Management System, otherwise referred to as an LMS or Learning Management Software centralises your workforce training, housing all your course content, learning data and training materials, to help streamline your training strategy.
Not only is it a fantastic piece of software to store all your learning content, an LMS can automate repetitive tasks taking the hassle out of day-to-day administration by creating alerts for repeatable tasks such as renewing certifications or grading tests and assignments.
Combine all this with the costs you save on instructors, training days, travel expenses and much more, it makes the LMS an extremely lucrative learning tool.
You might be asking yourself, why does my organisation need an LMS? Well, here’s a couple of things to consider:
Do you spend too much time and money on traditional training?
- Employees need half the time to study a particular material via E-learning.
- 42% of companies report that eLearning helped them increase their revenue.
- Every pound invested in online training results in an increase in productivity.
- Revenue per employee is 26% higher for companies using E-learning.
Do you need to increase employee retention rates?
- We estimate that losing an employee in the first year can cost up to three times their salary.
- 1 in 3 people leave their organisation within the first year…but 7 out 10 employees say that training and development opportunities influence their decision to stay with a company.
- Over a third of new hires leave their position within the first 6 month but over half of them would have stayed if they had completed a structured onboarding process.
- E-learning boots retention rates by 25-60%.
Do you need to gain a competitive edge?
- Well-trained staff will outperform their peers on the same job.
- Companies with comprehensive training programmes have higher revenue and profit margins than those without.
- Over 70% of organisations report that E-learning helped them increase their competitive edge.
Do you need to train people in multiple locations and time zones?
- Online learning allows you to deliver your training programmes across regional and global offices, as every learner has 24/7 access to their own training schedule and can learn at their own pace.
If any of the above resonates with you, keep reading.
There are several benefits of using an LMS over more traditional learning environments and if you haven’t already begun to recognise them, I’ll highlight a few of the main ones below.
Cost effective – it goes without saying Learning Management Systems do not come cheap, but the initial cost outweighs the savings you will make along the way.
With any cloud-based piece of software you’re not only saving money on reduced resources, travel, instructor and administration costs, but as everything is online, you ultimately reduce your “paper waste,” making your contribution to helping the environment.
Remember when you invest in your employee’s development, this helps to reduce your employee turnover rate in your company, ultimately saving you money.
The Transform LMS is completely FREE when purchased alongside any of our learning technologies. Learn more here.
Trackable – It’s easier to assess, report and monitor with real-time data and using one central location. Comprehensive reporting capabilities include live tracking of engagement and completion, as well as grading of performance based on an individual or team.
By investing in an LMS to track learners’ progress and objectives, you can identify whether the knowledge acquired is being applied to their real-life jobs, or whether additional training is needed.
Less disruptive– Training is unaffected by time zones or geography and a variety of learning styles and schedules can be accommodated.
Learning can take place outside business hours 24/7, even during the employees commute and is self-paced, so can be paused and resumed as needed.
More engaging – Let’s face it, training isn’t always someone’s idea of fun. An LMS can help you deliver learning content through a variety of media and interactive learning technologies, enticing and incentivising employee engagement, making the whole experience more enjoyable for everyone involved.
Learning can be personalised and tailored to specific job roles, gamified, or interactive which boosts morale and increases knowledge retention.
Employee training should be easy and fast to deliver. A good learning management system will do all the hard work, so you don’t have to. To find out more about the Transform LMS, please contact the team, we would love to discuss how we can help you implement this fantastic software into your L&D programme.