A Learning Management System is a software application for the administration, documentation, tracking, reporting, automation, and delivery of educational courses, training programs, or learning and development programs. The concept of Learning Management Systems evolved directly from eLearning. In this article, we discuss why one should invest in LMS and what are its advantages.
Why should you invest in LMS?
Learning Management Systems have been in existence for over a decade now. But we still see a lot of bigger companies not using it only because they are not aware of the benefits it brings to their business. Listed below are a few points that will help you understand why investing in an LMS is a good idea –
- Traditional training is time-consuming: eLearning helps you save a lot of time as compared to the traditional training programs, and hence improves productivity. Statistically, 42% of the companies report that eLearning has helped them increase their revenue.
- Competitive Advantage: eLearning helps your staff to be updated with the latest technologies and learning methods. A lot of the training programs meant for your staff on an LMS will be equipped with the latest skills and knowledge required for their job. A well-trained employee will always outperform their colleagues in the same job. It is seen that companies with comprehensive training programs have 218% higher revenue per employee and 24% higher profit margins. Hence it gives your company a competitive advantage in the business world.
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- Helps in increasing employee retention rate: Employee retention has become one of the biggest challenges in the modern world. 1 out of 3 people leaves their organization within the first year of their employment. This is usually because the employees realize that the training and development opportunities in that organization are not what they expected. However, introducing online training programs helps them develop their skills on the job, and in turn, makes them stay. eLearning is said to boost employee retention rates by at least 30-35%.
- Training people from different geographical areas and timezones: Online learning allows you to deploy your training program across your organization’s departments, facilities, and regional offices. eLearning is also a perfect way to reach and train your Extended Enter[prise network of partners.
- Continuous training for your employees: Traditional training programs usually happen annually, and based on a specific topic. A lot of your employees do not connect with it and hence learn nothing out of it. 74% of employees feel that they are not achieving their full potential at work. A Learning Management System, however, helps employees expand their knowledge and skills based on their requirements.
Advantages of a Learning Management System:
- Cost-Effective: Since there are no teaching material, transport, and other costs involved in an LMS, they prove to be very cost-effective for an owner. Unlike with classroom-based learning, the incremental cost of adding a new course on your LMS is quite minimal.
- Easier to monitor: An LMS is very easy to monitor with the use of various tools and features that it comes with. Reporting, certifications, activity logging can all be done in a fraction of a second with the help of an LMS.
- More effective: Any kind of online learning is more effective as the employees can learn at their own pace and convenience. Since the data is stored forever on an LMS, it can also be used by the employees to repeat the course whenever necessary.
- Interesting and engaging: With the right tools, you can make your LMS engaging for the users. Gamification tools, interactive tools, customizable courses all help in boosting the morale of the user and makes learning a fun experience for them.
- Less Disruptive: Physical corporate training programs are usually disruptive for the employees as they clash with their work timings and ultimately affects their work. However, with an LMS, an employee does not necessarily have to put in their work hours for learning.
- Suitable for lifelong learning: Since any course uploaded on your LMS can be available at all times, it becomes highly effective for the employees to go through it anytime they want. 97% of employees claimed that anytime, anywhere access to training material increased their learning effectiveness.
Living in the digital world has ensured that every activity has found its place online – including learning. It is highly likely that the future of education is online – and that is why we think you should invest in LMS! We hope this article has been helpful to you. Thank you for reading and all the best!