5 Reasons Why LMS is Essential for the Service And Technology Industry

Viren Kapadia May 17, 2019
5 Reasons Why LMS is Essential for the Service And Technology Industry

The service and technology industry carries a critical need for ongoing training of its employees. The fact that technology changes at an accelerated rate causes IT departments and companies to focus closely on delivering online training for both existing employees and new hires. Companies need to assure that their team is equipped with the latest skill sets required to successfully meet business challenges. Online training is the most effective way to prepare your workforce for achieving both your current and future business goals.

If you have a small team you may not face many challenges in keeping training up-to-date for your employees. However, if your team is larger you may face numerous needs, such as:

  • Updating employees’ product knowledge
  • Training a diverse workforce operating from different geographical locations
  • Updating employees’ knowledge regarding local compliance laws
  • Making sure that the employees understand the standard level of service across all branches of your organization

It is easier said than done; successfully transcending these challenges takes a lot of time, effort and investment. A good Learning Management System (LMS) should be cost-effective and also meet your employee training challenges with ease.

LMS is best described as a software application for documenting, tracking, administering, reporting and delivering online training programs. It is widely used in the service and technology sector to drive employee skill development, training on current and new business practices, and succession planning. In their early days, these platforms were used only for compliance training and employee onboarding. However, as use of the internet has become more prevalent and demand has grown, learning management systems have found new use as effective tools for continual improvement of employees’ skills.

If you need to increase the readiness of your employees or are seeking to deliver skills and compliance training to your employees, an LMS is an excellent solution.

Reasons Why You Need An LMS

Let’s dig a little deeper into why an LMS is an important tool for your business:

1. Saves Money

Using an LMS is very cost-effective. According to research, it takes average spending of almost $838 per employee for a mid-sized company to train an employee. If, however, you use an LMS, the cost of training reduces to less than $100 per employee, which is much more feasible. You’ll want to be sure you invest in a learning management system that complies with ISO and PMP certification standards, in order to be cost effective in the long run.

2. Saves Time

An LMS saves time in addition to money by providing efficient execution of your online training program. These learning management systems give valuable information to the learners in a very organized and direct manner. Learners need not to sit in long hours of training sessions. They can simply click on the training module related to the topic they need training on and gain the knowledge in a short timeframe. These systems also provide a platform to assess the understanding of your employees via quizzes or online exams. To determine whether training initiatives are working by tying them to employee performance and company profit, LMS is the ideal platform.

3. Effective for Training Remote Employees

Training needs are not just restricted to employees who work on-site. Updated skill levels are also essential for those who work for you remotely. Studies say that a number of employers prefer to hire remote employees, and thanks to ever-evolving technology, communicating and coordinating with them isn’t a messy task for the employer. But when it comes to upskilling remote employees to assure proper training, development, and onboarding, their physical absence from the office can create complications. This is another area where LMS comes to your rescue. No matter where your employees are located, they can easily access training materials at any time.

4. Individual Learning Paths

Not everyone learns and absorbs knowledge in the same manner. LMS gives freedom to your employees to learn as well as retain information the way they need it, and at the pace they need. Depending on the varying skills of the employees, their speed in learning things and comfort with technology, LMS helps employees to manage the individual learning path that works best for them and guide their own training.

5. Evaluate Employee Performance

Using an LMS, you can effectively measure how each of your employees is performing. Using centralized data, you can track the development of your employees. This is the best way to analyze the progress of employees who might be under-performing. Once the training is completed, you can evaluate how well they have improved in accomplishing their assigned tasks. Further, an LMS provides the opportunity to improve any issues with performance assessments and management. It helps you explore areas where the training approach needs to be modified, and thereby improve training effectiveness.

For achieving your business goals, equipping your workforce with the latest skill and knowledge training, onboarding new hires or tracking your employees’ performance, an LMS is an unparalleled tool. The highly competitive nature of the technology field means success is dependent on being prepared for future advances. You can help make sure that these advances don’t leave you short-handed by training your employees using an LMS.