For many years, large corporations sought out the best Learning Management Systems, often referred to as an LMS, because of the huge amount of time and effort spent in training new hires, as well as in keeping employees up-to-date with advances in technology and business processes.
However, small businesses always labored under the impression that an LMS wasn’t within their budget, so they simply spent the time, money and effort doing in-house training. That is no longer the problem it once was and if you are interested in growing your business while staying competitive in your market, you should take the time to research what an LMS can do for your company.
1. Reduce the Cost of Training
As mentioned above, older Learning Management Systems came at quite a cost but with the advances in eLearning, even small businesses can subscribe to SaaS (Software as a Service) in order to provide much-needed training in the Cloud. The important point here is to carefully choose your Learning Management System software selection so that you have the right tools you need at a cost you can afford with your company’s budget.
2. Improved Onboarding Process
Being that today’s LMS is built in the Cloud, onboarding new hires gives them access to what they need to learn about the company and the jobs they will be doing. It also enables them to have access to various departments where they can submit questions to the proper departments and, in fact, be met by various team leaders and department heads to become familiar with the people they will be working with and answering to.
3. Centralized Training
Whenever a company is introducing a new product or process, it may be necessary to train each department individually. This tends to segregate each department when the best results are achieved when the new process (or product) is seen as a cog in a well-oiled wheel. Each department has a role to play and once the entire process is centralized, each team can be more effective in doing the tasks they are assigned. They know why their role follows another and what they need to accomplish to help the next level do their jobs well.
4. Centralized Knowledge Base
It’s quite difficult to remember everything you’ve learned in training, so a central knowledge base stores everything anyone needs to know at any given point. Remember, today’s LMS is going to be located in the Cloud, so anyone with access can refer to what they need without even leaving their desk/post. Of course, that is assuming everyone has access to a computer, but there will almost always be at least one in every department.
5. An Efficient Way to Track Employee Performance
While no one is going to stand over the shoulders of employees accessing the training modules as they would in a seminar or workshop, team leaders and administrators can easily track their progress online. The real beauty of a system like this is that all exercises, quizzes, and tests are held in digital format, so they can be reviewed at any point an employee’s progress is in question.
Perhaps the best way to understand why it is so important to implement a Learning Management System is that abovementioned well-oiled wheel with multiple cogs. If everyone stays connected to the same wheel and continues being oiled (educated), the wheel will continue to spin. Centralized Learning Management Systems can be likened to the oil that keeps each cog functioning in the whole. Are you looking to grow your business while reducing costs? This is probably what you’ve been missing.