Training new employees in large, global corporates can be an expensive and tough task when there is a diverse range of employees in different offices. Learning Management System (LMS) is an online learning software that lets corporates train their employees more easily, effectively and at lower costs than an in-person training.
LMS software are extremely beneficial and if your organization hasn’t invested in an LMS yet, here are 6 reasons that will convince you to do so.
- Single Training Platform
LMS software will be a one-stop platform for all the training material of the company. Corporates will not have to worry about saving their training material at multiple places, LMS will be the one-stop platform for all the training guides and documents, which the users can access whenever they want.
- Performance Tracking
LMS software regularly track the performance of trainees, prepares a report and sends these records to the management. The management can then use these progress reports to evaluate a trainee and identify good talent. This feature also helps the management in personally guiding their trainees, if they feel a need for the same, after going through their progress reports.
- One time Investment
LMS will be a one-time investment which will ensure that you do not have to invest in training each time you hire a new employee. An LMS software will reduce the training costs of corporates. The costs of hiring or employing a trainer, booking a training venue, stationery, travel costs etc. will all disappear with an LMS training software. When companies avoid training their employees because it’s expensive, it leads to low work productivity and hence company profits might suffer. But with LMS software, companies can afford to train their employees without having to worry about the budget. This will ensure higher work productivity of employees leading to the growth of corporates.
- Low Employee Attrition Rate
A Kenexa study has shown that 8 out of 10 new employees will quit the organization in the early months of their joining if they believe they don’t receive good training to effectively and efficiently perform their jobs. Training employees with low-cost LMS software will let the employee learn and grow, due to which the percentage of employees quitting their jobs, in a short period of time, will reduce.
- Integration With Other Corporate Systems
LMS software can integrate with other corporate systems like Human Resource Information System, which contains all employee information. It will make the job of data entry much easier. For example, integrating LMS with HRIS will reduce the job of dual data entry and the data will be synced between both the systems. Whenever you do a LMS vendor selection, make sure that you choose an LMS which works well upon integration with other corporate systems. It will make the job extremely easier for the organization and also be very beneficial.
- Easy Compliance Updates
When training materials get updated or get outdated, it becomes a real task to ensure that all employees and trainees are abreast with the new guidelines and trainings. Doing this without an LMS means printing out hundreds of copies of the updated material and making sure that each employee receives one. LMS makes the job much easier for corporates.
On a LMS software, all that the management has to do is update the training material with the new guidelines and it will automatically reach all the trainees and employees. It reduces the job from physically going to each employee to ensure they get the updated material. LMS will instantly share the updated training material with all the employees and you will not have to worry about violation of any compliance guidelines because everyone will be immediately updated.
This is a less stressful, cheaper and a quicker way of getting updated material to the employees.
In the age of digitization, every task is easier when it’s done online or through a virtual medium, so is corporate training. With more and more work being done through virtual mediums, it’s only a matter of time before most of the corporates shift to online learning, especially due to accessibility and cost saving features of a LMS software.