Traditional training platforms don’t come under the priority list of the companies now. The upskilling expectations are way higher. Employees need to be at the front seat at both training and work demands. Only advanced technologies like online training software can ease the work of today’s professionals. It is the future of the e-learning industry. The LinkedIn workplace report of 2020 says that 57% of L&D Departments are planning to spend on online learning. Businesses are looking forward to investing in the latest and successful tools to facilitate e-learning.
Since the companies are transitioning to remote or semi-remote work, the need for online training is rising. Companies are embracing progressive technology in offering learning opportunities to employees. E-learning management systems top the list in training tools. Around 83% of the companies are currently using LMS. Its market is estimated to reach a value of $23.21 billion by the end of the year 2023. To make the learning effective for the employees, the remaining companies must adopt LMS.
LMS is the simplest form of software application that handles all the vital aspects of the learning process. It is an online portal for distributing and storing e-learning programs. To meet the rising expectations of the learners, LMS is transforming into sophisticated cloud-based software with an impressive list of features and functionality. It has enabled the trainers to make learning collaborative through forums, blogs, wikis, and social media sites. Along with delivering e-learning content, it also takes care of onboarding, compliance, and skills gap analysis. The job of the learning managers eases on a certain level with the implementation of LMS in training programs.
In the early 2000s, the corporate world started adapting LMS to fulfill their learning and development needs. Till now, it can make learning easy for today’s professionals. This tool can identify and assess individual and company learning goals, track training progress, and offer every other resource that every millennial wants. Today, LMS has a business of around $2.5 billion in the corporate world. As the number of teachers and industry experts increases and leverages LMS to create, manage and deliver learning content, the students and employees will get the training benefits on a massive scale.
Ensuring a wide range of courses in training programs that can meet the demands of the complex work environment requires high investment. There is no need to have a dedicated learning and development department to operate an LMS. It automatically saves the time and efforts of companies on a certain level. Not only this, a well-implemented and effective learning management system offers a lot more. Let’s discuss them in detail:
Maintaining efficiency in online training is also a task. LMS provides efficient training on digital platforms and makes sure that the learners are not facing any technical error while accessing the courses. If any discrepancy arises, it immediately sends alerts to the management to fix it. Top LMS platforms make the transition from offline methods to online platforms easy. It gives a boost in training effectiveness and efficiency. Also, it comes with Ad hoc solutions like video tutorials, instructional documents, and webinars that keep the employees engaged through the course.
Learning managers have to focus on a lot of things to ensure the timely delivery of learning materials. With an LMS, they can design as per the industry and work demands without developers. Half of the work is automatically reduced. It stores all vital information on a single platform so employees can find it easily. Also, the risk of data loss reduces. Since there is no limit on course refresh and reuse, the companies can scale the learning programs on any level.
Concluding, LMS takes off the pressure from the learning managers and puts the responsibility on the employees to request or create courses as per their upskilling demands.
The work productivity improves when the employees are learning as per the industry standards. Therefore, ensuring the quality of the training programs is highly crucial. LMS allows the professionals to design the learning material and courses that match the upskilling demands of the employees. When millennials can access in-demand courses from remote places, they get the freedom to learn at their own pace.
The top management will get timely updates about the course completion rates. They can make sure that their competent workforce is taking advantage of the available resources. LMS takes employee feedback as well. It helps managers to make informed decisions on whether to include further courses or rectify the ineffective ones. In the end, they’ll be able to achieve better ROI on training programs.
The workforce today is specific about their upskilling needs. There is a direct link between employee retention and career development. If they feel that the environment where they are currently working is not providing enough learning opportunities, they’ll probably accept a better offer letter. The Linkedin 2018 workplace learning report says that 94% of employees agreed they would sustain for longer if the company invested in their career. Helping employees grow and learn in-demand skills is the best way to show commitment towards them.
Online LMS platforms work smartly to ensure the best learning opportunities for millennials. The companies save a lot of time, effort, and money as they don’t spend unnecessarily in arranging extra offline resources. By simply logging into the account, employees can start with their upskilling.
Satisfying the upskilling demands of millennials is the responsibility of every company. The best LMS can transform the training programs of any industry with its unique offerings. The Gyrus LMS delivers a unified learning experience with analytics and insights to fulfill the emerging demands of today’s work environment. Contact us to know more about our offerings.