Knowing ‘what is LMS’ is essential to have the smart capability to manage courses and learners, and improve your organizational efficiency. After reading this blog, you will have a definitive idea about LMS and why you need it now.
A variety of Learning Management Systems or LMS solutions have been around for over two decades. The popularity of these innovative software solutions are on a boom currently. We can associate this to the digital adoption rate accelerated by the COVID-19 impact.
The corporate learning management system market is predicted to grow by $12.48 billion during 2020-2024. About 83% of organizations use an LMS and 73% stated a rise in their LMS use. It is also observed that cloud-based LMS services are poised for substantial growth in future. Adoption of wearable technologies will also witness a significant lift.
What is LMS?
The figures and facts paint a rosy picture, indeed. Now, before exploring if your organization needs to have it or not, it’s beneficial to elucidate the question, ‘what is LMS’.
A Learning Management System (LMS) is a platform that allows you to create, manage, and deliver e-learning courses. The framework contains a server and user interface. The former executes the primary functions like managing and delivering courses, while the latter runs in a browser and is used by instructors, administrators, and students. LMS solutions are great tools that help you administer, document, deliver, track, and house your training content.
LMS solutions serve as an effective virtual classroom. It helps instructors to interact with the learners and conduct learning activities online. It has increasingly been used by educational institutions now to deliver academic teaching/learning digitally.
Leading learning management system development service providers like GetMySites, can build intuitive and scalable LMS solutions to fit your unique organizational needs.
Why LMS Solutions?
Let’s quickly jot down some benefits of LMS that make it worth considering.
- Gives an effective digital presence to the instructor
- Freedom to attend class from anywhere
- Well-structured format. It is measurable, controllable, all-inclusive, accessible, offers related outputs, creates and keeps records, etc.
- Helpful for organization-wide training
- Facilitate attainment of employee efficiency goal
- Time and cost saving as it greatly reduces infrastructural investment
- No geographic barriers
- Easy onboarding of instructors and learners
- Effective tracking of learners’ performance
- A great tool to enhance employee productivity and confidence
- Offers contextual learning and employees can learn as they work
- Highly customizable and scalable. You can add features to suit the learning requirement.
Reasons Why Your Organization Needs an LMS
Irrespective of the domain your organization belongs to or the number of employees, having an LMS solution can greatly increase your profits, widen your customer base, and help you gain business success. Check out some precise reasons why your organization needs it.
1. You want to effectively track employee competency
The competency levels of your employees play a major role in keeping your customers happy. You need to be sure about the level of understanding and proficiency an employee has at a given task. If you feel that they lack knowledge or expertise in certain areas, it’s the organizational responsibility to equip them with the necessary skills.
With an LMS solution set up in your organization, you are having an easy facility to offer special or in-depth training to the needed employees. You get a centralized system that stores relevant information about employee competency. You can easily keep a tab on the employees who require upskilling. You can know who all have undergone courses, and why some are unable to do it. This helps you figure out who the potential leaders are and can train them. This kind of an organized system is far better than the manual records kept by a team leader. It also helps the L&D and HR teams to identify skills gaps and offer training at the right time to the right persons.
2. You need an optimized and streamlined training process
LMS solutions offer a hassle-free framework to automate and optimize your training process. Process and operations requiring sequenced activities are an integral part of many organizational functions. At many times, absence or inadequacy of proper training creates failures in systems. Employees may not be aware or educated about the precise sequenced steps to follow.
If this describes the scenario in your organization, you are in need of a proper LMS solution. You can set up a formal training arrangement and dispose of the existing ad-hoc on-the-job sessions. You can effectively organize and automate the delivery of training, schedule classroom training sessions, and eradicate paper-based assessments. By properly executing a learning management system, you can make your operations smart as your employees are better equipped to perform.
3. You want everyone in your organization to be updated about new products and the latest company/government policies
If your employees need to be in the loop whenever a new product update is announced. If you don’t want your employees to stay unaware of the recent company and government policies relevant to your functioning, LMS solutions can prove to be really beneficial. Learning management system tools are adept at keeping everyone updated faster. As your employees are aware of the new policies, rules and regulations, it can confer many long-term benefits.
4. You want to train and empower new employees
Many organizations are currently doing virtual onboarding and induction processes of new hires thanks to the pandemic-induced lockdown. The HR and L&D teams can make the best use of these training programs as empowerment sessions with a smart LMS solution in place. You can build special training courses depicting organizational timeline, history, your products and services, customers, values, etc. New employees will get a clear picture about what’s expected from them and how they can help the company reach its goal.
5. Cost-effectiveness is one of your organizational goals
As many organizations are now focusing on reducing operational costs, learning management systems can lead you to that goal in its own way. LMS solutions are great at reducing training cost along with improving the output.
Face to face or physical training programs can cost you a great amount due to facility rentals, trainer fees, travel costs, etc. Moreover, it becomes a recurring cost as and when new hires join. If training is a regular occurrence in your organization, setting up an LMS is the best choice.
6. You are looking to implement a consistent and company-wide learning solution
You are seeking to have a training solution for the whole organization. Your focus is not team-wise or department-wise training with the particular department deciding the time and curriculum of the sessions. LMS solutions are the best to have a consistent education program for all the employees. This helps you to avoid any conflicting information passed onto employees of different teams.
Modern cloud-based learning management systems enable you to roll out training courses that are accessible to employees working in different shifts. They can access content from anywhere, anytime. Likewise, instructors can also design and monitor these courses at their convenience.
All these points make it clear that adopting a learning management system is a no-brainer for any organization. It allows you to deliver critical training in a timely, accurate and consistent manner. It helps you get rid of the traditional time-taking and costly way of delivering education to employees. If you want to know more on how LMS solutions can aid in streamlining the educational content smartly and effectively, call us now.