The availability and quality of training programs is a significant factor in whether or not an employee stays with a company. In fact, a study conducted by IBM revealed that more than 40 percent of employees surveyed have left a company in one year or less if it offered inadequate training. In contrast, only 12 percent of study participants indicated they would be willing to leave a business that had comprehensive training and professional development programs in place.

With new technology emerging all the time, many firms are considering switching to online training platforms to maintain their competitive edge. Those businesses that already use cloud-based online training typically implement a learning management system, which delivers structured training to employees regardless of their physical location.

A learning management system can make life simpler for managers, new hires, and tenured employees at large organizations. Not only do these systems save resources, but they also serve as a way to centralize all of a company’s training and compliance data, both of which are critical for many industries.

The following are some of the benefits of learning management systems:

 

Onboarding New Hires

One of the biggest advantages of using a learning management system is that it can greatly simplify the new-hire onboarding process. As most C-suite executives know, recruiting and training a new employee can be very time consuming and costly. In addition, HR is often already overloaded with sourcing new candidates and coordinating interviews.

While onboarding processes vary among different companies, the basic components remain the same. Most new employees spend their first day meeting their immediate supervisor and fellow coworkers and completing all relevant new-hire paperwork. After this, they usually participate in some sort of training to prepare them for their new role. This is where a learning management system can be useful.

By integrating a learning management system into its onboarding process, a company can offer new hires a self-paced training environment while also ensuring that all important information is delivered in a systematic way. These systems will typically have predefined modules designed to give the participant information and instructions that are directly related to his or her job duties. Further, learning management systems are interactive, and many platforms offer employees the chance to ask questions and provide feedback.

In addition to making the training process easier for new hires, learning management systems enable managers to monitor the progress of new hires without taking time away from their everyday duties. These systems also create a constantly updated database of information that new employees can use to stay informed about policy changes.

 

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Cost Effectiveness

All businesses, whether they are large or small, are concerned about their bottom line, and learning management systems are a great way to save money on comprehensive training and education costs, such as travel expenses and printed materials. In the past, only large corporations with deep pockets could afford robust learning management systems. However, as the popularity of virtual training has grown, the price of learning management systems has drastically decreased.

Today, most learning management systems are powered by software as a service (SaaS) technology, which means that the creation and maintenance of these systems is effectively outsourced. Moreover, SaaS providers typically bill companies in a subscription format, which spreads out the upfront cost, thus making learning management systems economical for smaller firms. Cloud-based solutions are also easily adaptable to allow for expansion as the business grows.

 

Performance Tracking

Another major benefit of using a learning management system is that it can help managers better gauge employee performance. With a learning management system, supervisors can view analytic data that will give them insight into what their employees are learning, how they are progressing through the modules, as well as how much of the material they have mastered.

Looking at learning management system reports will also give key insights into how training is directly tied to employee performance. For example, if there is a specific training area covered by the learning management system yet employees continue to struggle in this area, then companies might want to reevaluate the training material.

 

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On-Demand Access

Yet another benefit of learning management systems is the fact that they are highly accessible from anywhere at any time. Large corporations typically have offices scattered all over the world, and due to the scheduling conflicts and other issues associated with arranging training events for people in various time zones, it would be impractical to try to hold training courses in-person.

Learning management systems are also perfect for telecommuters and those who work nontraditional hours. If a company permits employees to work remotely, they can also complete their required training remotely. Rather than commuting to the office for in-person training, employees can access the learning management system from their home or any other approved remote work location.