In 2024, 80% of businesses report utilizing online learning and training systems. That’s a large portion of the workforce, and for good reason.
Online learning has many benefits, whether utilized in business or general schooling. The same report also found that online learning and training can also enhance employee performance between 15% and 25%.
Training might not be something you do every day, but for many industries recurring training is vital. Whether we’re talking about compliance training under the Health Insurance Portability and Accountability Act (HIPAA) or safety training such as Basic Life Support (BLS).
This is why Learning Management Systems (LMS) are such fantastic tools. So much so that they’re becoming a staple amongst business owners. As industry standards and regulations become more strict, companies must stay on top of everything.
So let’s go over what exactly an LMS is, some of its key features, and the benefits of investing in one.
Table of Contents
What is a Learning Management System (LMS)?
An LMS is a type of software that helps businesses store, manage, and track their e-learning material.
This subject material depends on the industry the business is in. It can range across all kinds of topics. These online courses and training modules help employees to better retain important information regarding compliance, safety, and so on.
If you have a large employee count and many different departments, e-learning is a fantastic way to help keep content organized and make sure everyone completes their training.
By using a quality LMS program, business owners, Human Resource (HR) personnel and compliance teams can more easily:
Train new employees.
Track individual training progress.
Access analytics.
Set and manage goals.
Communicate with employees.
Since there are so many different LMS programs on the market, how do you know which is best? Let’s go over a few key features to look for when shopping around.
Key Features
When looking around for your perfect LMS program, you should keep a few key features in mind. First and foremost, keep your employees’ needs front and center. Learning is already a challenge, so opt for a program that is user-friendly. Also, one that is engaging and interesting.
Remove any unnecessary obstacles from your team’s learning process by making it fun and easy to use!
Also, consider a program that’s mobile-friendly. Employees can learn anywhere! Whether it's on their desktop or their phone, help make completing training more convenient by offering it on different devices. Remote learning capabilities allow your team to complete goals and challenges whenever works best for them. Helping you collect and verify training data sooner.
Speaking of data, make sure your LMS program offers on-demand analytics and reporting as part of its services. This way you can see the impact of your training and adjust materials as needed. A successful training program caters not only to your industry but to your employees as well. Let’s go over the top 9 benefits when you invest in the right LMS.
Benefits of a Learning Management System (LMS)
We’ve already gone over the value of an LMS earlier in this blog. But this is only just scratching the surface. There are plenty of different benefits you gain when you invest in this type of educational software. For both employees and business owners.
Let’s go over 9 of the most impressive now!
1. Saving Money
While it’s true that your LMS program will have a cost associated with it, it also will save you money.
How is this possible?
Well, let’s think about it. Training your employees is something you have to do. There’s no way around it. So you’re going to have to spend money. But why not choose the most cost-effective route?
Training in person can be more costly and time-consuming. No need to spend money on instructor travel costs and printed materials! With an LMS program, all of the information and training material is readily available at the click of a mouse.
2. Saving Time
Time is money, right? I know we’ve all heard that saying, but what does it mean?
Well, the more time you spend on menial tasks the more time you take away from the profitable ones. And let’s face it, there's nothing that feels as menial and tedious and recurring company training.
So, instead of taking hours out of an employee’s day, how about only needing one hour? Or even less than that?
Instead of sitting through lengthy training sessions, users can simply click on the modules they need to review online. Convenient and quick learning is the name of the game with an LMS.
3. Improve Your Management Style
As a manager, having the ability to access all course materials online is game-changing. As well as being able to access each individual’s progress reports.
Being able to have all of your material in one place effortlessly elevates your management style. You can be more involved in your employee’s training to offer individualized support and advice than ever before.
4. Ensure Training is Complete
Managing your team’s training progress becomes easier when you can refer to your LMS for data and insight. No more chasing down employees in the office to double-check if they have their training done. Simply go online to see the progress reports of each individual.
You can also use this route to make sure your team completes all training at the highest standard. If someone fails, you will know immediately so the person can quickly take their training again. As well as address anything they may have not understood the first time around.
5. Provide Data to Stakeholders
This access to information and data holds other benefits, too. You can use an LMS to prove to your stakeholders that your current training technique is effective. And that it also offers a return on investment.
Downloading and distributing this data in an easy-to-understand format is a valuable way to gain stakeholders’ trust and support.
6. Improve Employee Experience
Learning is already a challenge, so why not make it engaging and easy to access?
That’s what an LMS program does. Employees don’t need to collect a bunch of printed manuals or worksheets to keep in a folder.
Just to have to bring out any time they need to complete training. Everything they need is in a centralized location within the LMS program. Improving the learning experience for your team means they are more likely to complete their courses promptly.
7. Better Communication
Communication between the entire company becomes easier through the use of a LMS.
If someone is missing a completed training, management can simply reach out via the system to remind them to take it. Employees and students can also utilize this technology if they have any questions, too.
8. Integrate Social Learning Experiences
Integrating social learning into your training strategy can help your team better grasp the material. It can even help them retain it, too!
You can include links to different pages online that may be beneficial to your team. If you make your e-learning content, you can also use your course to market and attract new learners.
9. Keep Up-to-Date with Compliance Regulations
With industry regulation standards and laws always changing, rest easy knowing that you can update your online course content to reflect that at any point. LMS tools give you the ability to add new compliance standards to your training in a matter of minutes.
As opposed to having to recreate an entire training by scratch. Keeping your company up-to-date in this way can save you from costly fines and other penalties down the road.
Conclusion
Staying ahead in business means staying ahead of the curve when it comes to compliance and regulations. Training should be an important part of your business plan. Employee development through training is a long-term investment that can save you from legal issues and costly penalties in the future.
Having an LMS is an easy way to help your business save time, and money while ensuring your team stays compliant. The customizable features, analytic tracking, and streamlined communication will take your company-wide training to the next level. If you haven’t invested in an LMS program yet, consider exploring the possibilities today. Your bottom line will thank you!
