The Long-Term ROI Of LMS On The Team And The Business

Viren Kapadia July 07, 2020
The Long-Term ROI Of LMS On The Team And The Business

No matter how talented an employee is, whenever he is recruited by a company, he almost always needs to undergo training to ensure that he is ready to be integrated as part of the company’s workforce. Having recognized this need for training employees, companies have been adopting the use of Learning Management Systems (LMS). The article briefly describes the various potential benefits that can be reaped by adopting the use of a LMS to aid the company’s training efforts.

Benefits for the Team

  • - An LMS allows managers to effectively train their team, and as a result of such training, they can extract a greater level of work efficiency and productivity from their team. This results in a collectively improved performance by the team.
  • - Because of the LMS, teammates can be easily upskilled to be able to adapt to any upgrades in software systems that the team uses, or modify their work to ensure compliance with any changes in regulatory guidelines or legal framework.
  • - The performance of individual teammates on different training modules helps managers map every member’s strengths and weaknesses. For this, GyrusAIM offers advanced analytical features so that easy-to-read visualizations of training performance results can be generated. This enables managers to decide exactly what role to confer on each team member, to ensure that he is handling the work he is best suited for.
  • - The gamification of learning, which is one of the features of GyrusAIM, drives intended trainees to put their best foot forward, so as to ensure greater commitment to gaining new knowledge and skills. This competitive attitude will also reflect in the employee performance as a whole, and end up benefiting the team.

Benefits for the Business

  • - Because every team would be able to improve their productivity and performance quality as seen above, the overall business performance will improve.
  • - From the analytics-based reports on performance of individual employees on different training modules, their aptitude can be mapped. Through this, decisions could be taken regarding internal transfers within the company, based on the mapping of aptitude and individual employees’ career interests. This will ensure that each team will have members that are intrinsically motivated to be in the roles that they have been offered. This will result in further improved work output from employees and consequently, from the team as a whole.
  • - As seen by the conclusion of multiple studies, the costs of retaining employees are much lesser than costs of recruiting their replacements. Due to improved performances of employees due to various factors mentioned above, they will be able to have better appraisals, and therefore, greater reasons to stay with the company. Consequently, there are bound to be major costs savings.
  • - An LMS allows the training to be conducted efficiently over a virtual platform. As a result, companies no longer need to ensure that offices have training spaces. Thus, they can choose to operate out of small office spaces, which will deliver savings on rental costs. This is bound to translate to a higher bottom line.

Thus, as seen above, the adoption of LMS delivers long-term sustained returns, on the time and efforts of the team, and the expenditure incurred by the business. It is in recognition of the aforementioned potential benefits, that we constantly upgrade the features of GyrusAIM, the flagship LMS offered by Gyrus, so as to deliver increasingly better results for our clients.