An LMS is something that modern businesses should know about and probably use as well.
First, what does LMS stand for?
An LMS is a learning management system.
A learning management system is a way to administer and host, but also track online learning. Essentially with an LMS, people can go to a central repository where they can access learning materials, take quizzes and tests, and in some cases communicate with administrators or other learners.
An LMS also allows for the management and storage of content, the measurement of learning, and the storage of learner data.
These platforms are frequently used in education, including higher education. However, what about in business? Why are businesses increasingly turning to the use of learning management platforms?
The following are some of the strategic reasons a business might need an LMS and the benefits of these platforms.
Employee Training
In the competitive, fast-paced and innovation-driven business world that we’re in today, well-trained and informed employees are essential.
A lot of employers are looking for ways to create their own talent pipeline, and to cultivateemployees in a way that allows them to continue growing within their company.
All of this means there needs to be a cost-effective and efficient way to deliver employee training, which is what an LMS can do.
In addition to training for purposes of having strong talent, training employees is also essential for regulatory purposes. With a learning management system, employers can track their training,and they have a record of it, in case they run into regulatory issues, or they face an audit.
Education As a Benefit
A lot of employers are having a hard time recruiting and retaining top talent right now. Employees are somewhat in control because the unemployment rate is so low.
Not all businesses have the money to offer even higher salaries or more financial benefits.
However, employees see the opportunity for ongoing learning opportunities as a benefit.
The use of an LMS lets employers administer learning opportunities as a benefit to employees, and again, it’s cost-effective and efficient.
Productivity
Having an LMS in a business setting can help productivity in a number of ways.
First, it’s an easy way to deliver self-paced training. Employees can learn in the way that’s best for their needs with an LMS. That can ensure they’re prepared to do their job, which in and itself boosts productivity.
When employees have access to an LMS, it also allows them to access information easily including while they’re on-the-job. This can prevent issues related to a lack of knowledge or understanding and keep things moving along productively in the business.
All of the learning materials are in one accessible and consolidated place so they can be accessed right away, and new skills can be learned quickly.
Lower Costs
There are many ways an LMS can lower costs for a business.
First, there are the ways an LMS can reduce training costs. Training employees in a traditional environment requires a classroom space, learning materials, and instructors.
With an LMS, you create a course, and that’s it. Employees take less time off, and there are fewer overall investments that need to be made.
Having an LMS can also reduce the costs associated with human error or avoidable mistakes since information is so easily accessible to employees.
Supports Remote Teams
More businesses are relying on remote employees and remote teams. They may have people working around the world on projects, so they face a challenge of how to onboard and then ultimately train these employees.
An LMS takes care of these challenges.
No matter where an employee is located in the world, or what their time zone is, they can receive the same onboarding and training as an employee who works at the home office.
Employees don’t have to travel anywhere from training, which is another way to save time and money while improving productivity.
An LMS Is Easy to Update
In most industries, there are constant changes in how work is done, because of innovation and trends or perhaps regulatory changes.
If you rely on a traditional training model, it’s time-consuming and expensive to integrate these changes.
With an LMS, you can make necessary changes in a matter of minutes. You can update or alter content, policies, and regulations, and you can also track to ensure that employees are using the training materials, so they’re held accountable for these changes.
For businesses that aren’t yet using an LMS, it may be time to investigate the business benefits this type of platform can bring.
