With today’s technologies, workplace e-Learning tools and web-based learning management systems (LMS) have made it easier than ever for organizations to develop and deliver employee training.
Just as technology has grown over the past decade, so has the popularity of online learning. With this trend in mind, there are three major benefits that a robust LMS system can offer your organization.
- Better ROI
Developing necessary skills and delivering vital information to staff members is a significant and necessary investment; however, traditional methods have proven to be quite expensive. E-learning or LMS aim to reduce those costs, improving organizations bottom lines. A 2002 study by Florida Institute of Technology cited several big brand names that cut their training costs by switching to e-learning platforms. Reducing its costs by 35 percent, Ernst & Young saw a significant return on investment.
Ernst & Young isn’t the only company reaping the rewards. Bersin’s 2015 Global Human Capital Trends study showed that high-performing companies spend up to two times more on leadership than other companies, and achieve results that are triple to quadruple the levels of their competitors. A small investment in something like an e-learning system could significantly pay off in the end. After all, numbers talk.
Too often, traditional training methods are one-dimensional, leaving questions unanswered and lessons unlearned. It is important that organizations leverage technology to reduce learning waste and information overload. This can be accomplished by creating a central knowledge base where employees can access relevant content whenever the need arises.
For example, have you ever left a training course and forgotten to write down important information? Now you’re writing a report and that information would be extremely helpful, but you can’t remember exactly what you learned. With the proper e-learning software, employees can review and retake courses as many times as they like. This is a huge advantage, especially as it relates to their ongoing performance.
Say an employee is performing a task at work, but isn’t acclimated to the process yet. With e-learning, he or she can access the online course and review how to perform the task; thereby reducing errors and improving the quality of work performed.
- Improved Decision Making
The information that is available empowers organizations to make better decisions about their people. As companies grow, it becomes harder to manage their workforce. That’s where e-learning comes in handy.
By measuring employee competencies and identifying top-scoring employees as candidates for open positions and promotions, organizations can positively impact their growth rates and retention numbers. This strategy fosters the development of new leaders who are both engaged and productive, developing significant financial results for the company. With data supplied through e-learning platforms, organizations are empowered to make better staffing decisions.
Regardless of where you are in the process, an LMS offers significant advantages, helping you drive organizational efficiencies. Take control of your workforce today by positioning learning as an agent for change.
This post is part two in our four-part series on LMS. Keep checking back as we continue the series.