The global market global market for Learning Management System (LMS) is expected to increase from $16.9 billion in 2022 to $40.95 billion by 2029. Generally speaking, LMS helps in reducing employee attrition by providing 24/7 learning opportunities. Besides, LMS can be customized for industries, including the government & public sector, information technology, manufacturing, and pharmaceuticals.
Here are the top learning management system benefits for enterprises.
A LMS enables online learning and training for corporate employees. What are the benefits of a LMS? Let's discuss.
When compared to "traditional" forms of employee training, a LMS-enabled eLearning program can significantly save up the organization's productive time. LMS and eLearning eLearning eliminate the time spent by trainers visiting offices at remote locations. This is particularly relevant for manufacturers with facilities at remote sites.
Traditional training sessions also cost organizations money in terms of travel expenses, salaries to educators, and other miscellaneous expenses.
On completion of LMS implementation, employees have 24/7 access to online learning material and resources. For example, sales executives in the pharmaceutical industry can access the latest product information on their devices during remote sales calls.
An efficient LMS provides learning flexibility to any workforce as they can develop new skills at any time without having to wait till the next employee training program.
With a centralized LMS, organizations across industries can store all their learning content at a single location. This means teams do not have to share the latest learning materials from their individual computers or devices. Organized and centralized content minimizes the risk of losses due to accidental deletion or misuse.
All employees can access the centralized learning material stored on a remote server, thus improving learning engagement and participation. Similarly, government and public sector companies can store the latest company policies and guidelines for easy access on a single server.
An efficient learning management system can reduce each employee's learning time by providing them with relevant content and resources. Employees do not need to sit through lengthy training sessions to gain knowledge. They can absorb relevant information by accessing online learning modules of their choice.
Besides content, a LMS platform can engage online learners through a host of other resources like online examinations, daily quizzes, contests, and eLearning videos. For instance, eLearning videos in the manufacturing sector can simplify complex operations like setting up a new machine or resolving a complicated machine malfunction.
A learning management system also enables organizations to measure the progress of their workforce and check for any improvements in their work performance. For instance, IT managers can track the skills of their team members and pinpoint any specific areas of improvement.
By using LMS-based analytics, organizations can track the average time spent learning each learning module and modify the material if required. For an individual LMS learner, it can recommend supplementary learning resources to improve their work efficiency.
Organizations across domains must also maintain compliance with industry regulations. Lack of compliance can mean penalties in the form of corporate fines and lawsuits. As an example, regulations in the pharmaceutical industry keep changing regularly. Pharma companies must convey these changes to their employee base.
An efficient LMS makes it convenient for organizations to add new or modified compliance laws to a centralized location. Employees can view and note the latest regulations in quick time.
As compared to traditional practices, LMS platforms are more flexible and up-to-date with the latest industry regulations.
Last but not least, reduced employee turnover is among the biggest advantages of LMS for companies across sectors. On average, organizations spend more money recruiting new talent than retaining the existing workforce. With an effective LMS, companies can improve employee engagement by:
To leverage the benefits of an open-source LMS, organizations must invest in the right solution. That's precisely where GyrusAim comes to the fore. Let's discuss the LMS benefits of GyrusAim.
Here is why GyrusAim offers the best benefits of LMS for any organization:
Using Gyrus LMS, organizations can deliver online learning courses in multiple formats, including, Classroom training, Webinars, eLearning content, and also Documents.
Besides, GyrusAim LMS enables faster employee onboarding, higher employee retention, and compliance-based training on OSHA, SOX, HIPAA, Code of Federal Regulations (or 21 CFR), and more.
To summarize, organizations in any industry domain can leverage the multiple benefits of a LMS to improve their employee skills and retain more workers. However, before investing in a LMS solution, they must research and select the best tool that meets their organization's learning requirements.
As a LMS implementation company, Gyrus is recognized among the top 20 LMS platforms for its user and customer experience. Our LMS solutions have facilitated customers across industries like manufacturing, the public sector, IT, healthcare, and pharmaceuticals.
Do you want to know how to use LMS in your organization? Contact us for a free product demo!