Instructional Design

7 Reasons Why An LMS Is Necessary For Business Success

7 Reasons why an LMS is necessary for your business - TalentLMS Blog

While eLearning has taken the enterprise world by storm, there are still many businesses weighing the pros and cons of investing in an online learning strategy.

This is especially true for small and medium-sized companies, as, on a first look, eLearning appears to be something that only big corporations with thousands of employees have a need for. It’s also true, however, for many established big businesses working in less tech-savvy, more conservative industries.

Then again, if you’re reading this, it means that you already want to know more about the benefits of online employee training, and how a modern LMS platform like TalentLMS can assist in the success of your business. Which, coincidentally, is exactly what we’re going to cover in this post.

1. Time is money

In today’s knowledge economy, where time to market is everything, online learning emerged as a faster and more effective method of business training, compared to traditional classroom-based training.

Because online training can be performed at the time that’s most convenient for each individual learner, it helps businesses minimize training-related disruptions to their daily workflows.

When, for example, workload increases or some important business deadline looms, your training schedule should change to accommodate your business needs. With scheduled seminars this can be a real hassle — with online learning it’s as easy as it gets.

TalentLMS gives you all the tools you need to implement an on-demand learning experience – tools that allow employees the freedom to study at their own pace, and from their own preferred location. And with the TalentLMS mobile applications (available for iOS and Android), this freedom extends to learning (and microlearning) on the go — whether that’s during an employee’s daily commute or on a flight to some business meeting.

2. Money is money

From the inevitable cost of renting some space for your training activities (or devoting some of your existing office space), down to printing out leaflets and hiring the appropriate number of instructors, traditional, classroom-based learning incurs some significant costs that aren’t very amenable to economies of scale.

That’s why, whether you’re a small, medium or large company, online learning can help you cut down on your training costs.

With a single Cloud-based TalentLMS account, for example, you could train anything from 5 to 50.000 employees, and all with a predictable per-employee cost that you can know in advance and budget for.

3. It’s easy to manage

If your company is of a certain size and above, and you have ever tried to organize a traditional in-person training program, especially one involving multiple departments and or facilities, you probably already know how easy it is for it to turn into a logistical nightmare.

With online learning, not so much.

With a modern LMS like TalentLMS, for example, you have complete oversight over all of your training program, from course programming to employee registration, and from course attendance reports to learner performance statistics. Plus, with TalentLMS “Branches” feature, you can even run separate, but centrally managed, training programs per team, department or facility.

Oh, and with TalentLMS being Cloud-based, there are also no difficult installation steps or configuration that you have to go through. All you need is to register for a new TalentLMS account, add your content and users, and Bob’s your uncle.

4. Perfect for Employee Onboarding

For a lot of companies, their employee onboarding process is an ad-hoc mess.

And yet, employee onboarding (also known as employee orientation), is one of the most important factors in increasing productivity and minimizing employee churn rate. Plus, with today’s demanding compliance rules and employee certification laws, a fully compliant orientation course can be quite complicated to design and execute.

Unless your onboarding process is implemented with a modern LMS platform, that is.

TalentLMS, for instance, will help you write original orientation material, incorporate existing content (from Word documents and PDFs to video and presentations), and even directly buy and deploy professionally-made third-party content (through its always-accessible integrated content marketplace). What’s better, you’ll be able to adapt, improve, and re-use the same courses again and again, for each new generation of hires.

Last, but not least, TalentLMS’ support for compliance training (complete with certificates and pre-requisites) makes developing a compliance training strategy really easy, regardless of the industry you’re in.

5. Knowledge retention

Another unsung benefit of eLearning is knowledge retention.

The term sounds fancy, but the idea is quite simple: there are lots of procedures, steps, tips, and tricks needed for the day-to-day operation of your company. Things ranging from how to properly fulfill orders to a particular big customer’s satisfaction, to keeping your website running properly.

If your business is like most companies, each of those tasks is handled by a handful of employees, with parts of them frequently only known to some single senior employee. This means that if that employee ever moves on, quits or gets fired, there will be some disruption to your business, while somebody else picks up their tasks and learns how to do them properly. Any money or time-saving tricks these ex-employees have used might even get lost altogether.

TalentLMS can help you keep all that knowledge in the company by providing an easy way to transfer employee knowledge (including all that valuable on-the-job experience) into a central repository, formalize it, and use it to educate new employees.

Of course, this takes some effort — you have to ask your more experienced employees to write down any non-standard domain knowledge they acquired over the years, and especially any custom procedures they discovered to get the job done faster and better.

What you get out of this though, will definitely be worth it. And not just for the knowledge retention aspect, but also because formalizing how your company and employees actually operate will also give you the opportunity to rethink your company’s procedures, discard some deprecated procedures, and improve upon others.

6. It grows with you

Whether you are a small local company or a large multinational enterprise, online learning can both accommodate your needs today, and scale to meet your future needs. After all, a small business doesn’t stay small forever. Just consider that Apple and HP were “small businesses” once upon a time too.

As your company grows, your LMS will grow in importance with it and will pay for itself many times over. And remember, growing implies hiring new people — and all these people will need both onboarding and training for their new roles.

As for larger businesses, well, they always expand to new markets, open new facilities and diversify into other industries. Those things are par for the course if you want to stay competitive. With a Cloud-based LMS like TalentLMS there are no large upfront costs or restricting fine-print: you only pay for as many employees you need to train, and you can grow to however many learning portals and employees you want.

That’s why over 30.000 organizations of all sizes, from cPanel to LG and Telerik, trust TalentLMS for their employee training needs.

7. It’s not that big a decision

One thing keeping businesses from adopting online learning in the past was that a corporate LMS used to cost serious coin, and often needed a dedicated IT department to set it up and keep it running.

Nowadays, and especially thanks to the Cloud, deploying your own corporate training program can be as simple as signing up for Facebook.

TalentLMS, for one, has been renowned for its ease of use, and has often been praised by users and industry experts as a powerful, yet intuitive online learning platform, even winning several awards as the best on its category.

The best thing is that TalentLMS’ Cloud-based solution and simple pay-per-learner pricing scheme has removed all barriers to adoption.

Which means that even if you’re not immediately planning on deploying an LMS, we suggest you to try and take TalentLMS for a test drive. It’s a no-brainer, and you might find out that you really need one.