Do you know the LMS is a $7.83 billion industry? Reports suggest that every year, the LMS industry will grow by 25%, signifying that more organizations will join the LMS trend to prepare their workforce for the futuristic challenges.
Doesn’t that mean it’s time to get acquainted with the fundamentals of an LMS?
An LMS is a software application that helps businesses impart necessary education and training to their employees and improve their skill sets. As a result of training, the employees become more competent, meet future challenges with greater ease, and contribute more to the organization’s growth. Undoubtedly, investing in an LMS is very important. Here are some factors that justify this statement -
All the learning tools and materials are easily accessible through an LMS. This is how employees get better opportunities to improve their skills and knowledge. As a result of this, you get access to better employees, who perform better and help your business grow.
LMS is widely used to organize data and keep track of all the training courses offered to the employees. Modern learning systems have in-built features to integrate well with existing HR systems so that it is easy to access any type of employee-related data.
It is wonderful to know how your employees are developing, and LMS helps you track that more efficiently. You have the option to view reports and training data in an LMS, which is how you can always keep apprised of employee’s growth. Further, you can also analyze if the employees need additional support.
Thanks to the SaaS model it has become very easy for small businesses to afford an effective LMS. Extra costs (like printing charges for training material, instructor fees etc.) involved in classroom training are also minimized.
Just like money, time is an important resource and an LMS helps you save that. It helps you save time spent on administrative and training tasks. It also saves you time spent on hiring trainers, as in the case of classroom training.
It is not just one single thing that you wish to teach your employees. There might be a range of topics that you wish your employees to excel in, for example, compliance training, new software programs etc. In this respect LMS proves to be a one-in-all online learning platform.
LMS is also important from a compliance point of view. The virtue that you can track training assignments and record each and every detail of completion data, your organization can be protected against any legal action.
LMS does more than impart training. It assures that the employees are actively participating in the training course through gamification and other similar features. LMS does not believe in boring classroom lectures that lack smart learning features.
When new employees join your organization, it is very important to make them familiar with the organization’s objectives, rules, work culture etc., so as to make them feel connected and help them get up to speed. However, it can often become complex, lengthy and boring. Many businesses prefer to impart induction training through LMS.
With an LMS, you can be rest assured that your employees always have access to the training materials, irrespective where they are or what they are doing. These days, an LMS can be easily accessed through mobile devices.
These points clearly indicate why an LMS is a critical tool for managing employee training and improvement. When other organizations are using advanced learning environments to polish its team members, you don’t want to be lagging behind!