The rise in the adoption of eLearning technologies in the pandemic has also affected the corporate world significantly. While the use of LMS platforms in a corporate setting is nothing new, the true rise in popularity of corporate LMS can definitely be attributed to the current global state. With so many employees working online from home, organizations have felt the need to keep their employees motivated in order to reduce turnover and keep the revenue high. To this end, corporate LMS is a step in the right direction.
Having a corporate LMS does not only benefit the employees but also adds value to the employer brand. With corporate training, companies report 24% higher profit margins than those without any training. Most important, though, is the message a company sends out by having a dedicated training platform: that it invests in its employees and cares about their personal and professional growth.
With so much to gain from corporate training, it is important for companies to choose the right platform that serves their needs perfectly. To do so, they must begin by exploring all that there is to offer when it comes to corporate LMS.
Efficient Product and Compliance Training
Perhaps the most obvious way in which a corporate LMS can help an organization is by educating employees about the products or services the company specializes in. When an employee has an in-depth understanding of what the company does and how it impacts the market, they can work better in their roles.
Whether the employees are product developers, marketing specialists, or even HR professionals, knowing the particulars about the company’s output helps them do their job with a much better understanding of how their role affects the company.
Not only that, a corporate LMS makes it easy and efficient to conduct compliance training. It is essential for organizations to educate their employees about the specific legal regulations and internal company policies. Doing so using an LMS ensures all workers are uniformly trained. Online compliance training also eliminates the need to have dedicated training personnel, thereby making the organization more efficient.
Reinforces Company Values
In addition to teaching employees about the company product, corporate LMS can also be used to familiarize employees with the company values. This is especially important for new hires who are unfamiliar with the dynamics within the company. Having a course focusing on the kind of conduct the company values helps newer employees get acclimated to the environment.
It can also serve as a refresher for older employees, so as to reinvigorate them. An emphasis on teaching values makes the organization come across as one that cares about its employees beyond their professional output. With a motivated workforce that has its values and objectives clear, good performance is a natural result.
Offers Personal Development Opportunities
When a company truly invests in its employees, it goes beyond teaching them job-related hard skills. Many soft skills like leadership management and public speaking are not just useful on the job but stay with the employees forever. Having classes on the corporate LMS addressing mental health issues and coping strategies is also very useful.
Offering lessons for personal development gives the impression that the organization values the personal well-being of its employees. Additionally, many courses can be taken by several employees together, enabling social learning and thereby allowing employees to socialize. As a result, workers are much more content in their roles and are likely to stay with the company. A workforce with balanced personal and professional lives positively affects the company’s performance in turn.
Promotes Interdisciplinary Training
Building on the point that a corporate LMS provides new learning opportunities, many companies have seen a marked improvement in performance when employees are given interdisciplinary training. Interdisciplinary training allows employees to get an idea of what other departments do and how it affects their own work.
For example, allowing sales and marketing personnel to take a look at the developers’ end helps them understand the features of their products and services better. Conversely, having software developers take a look at the marketing and sales efforts allows them to understand what potential clients look for and try to incorporate that to make the overall user experience better.
Reduces Training Costs
The biggest advantage of having a corporate LMS is that it greatly reduces time, effort, and cost spent on training employees. Previously, companies needed to either host an expert or send their employees out to conferences to get the necessary training required for their roles. With the help of online platforms, this idea had largely become redundant. Not having to pay for travel and accommodation saves companies an appreciable sum.
The time saved thanks to corporate LMS can be better spent elsewhere. Previously, senior company officials would have been required to take out the time to train newer employees. Similarly, HR would need to train new hires to get them up to speed with the company’s objectives. All this can now be done online with carefully prepared course material that can be reused as needed.
Tracks Learner Progress
Using LMS reporting tools, bosses and HR professionals can keep track of user progress in their courses. A corporate LMS can give insights into how well a course was received by a learner via several tools. Grading and assessment data can reflect the knowledge assimilated, while timesheets and attendance let the company know the level of interest employees have in particular training. With this knowledge, companies can work on improving their training content, fast-track good performing employees and pay individual attention to learners who are having greater difficulties.
In addition to saving costs when it comes to training employees, a corporate LMS also helps the company increase its revenue. While it may not seem obvious how the two are connected, the concept is pretty straightforward. If employees are equipped with the latest training, are confident in their approach, and are motivated to perform, the entire organization works seamlessly and efficiently. The result? Better performance from workers and higher revenue.
Lowers Employee Turnover
As discussed earlier, putting thought and effort into training employees is a great way to show the workforce that an organization cares about its employees. With thoughtfully designed courses on a corporate LMS platform, employees are encouraged to focus on their personal and professional development. This makes employees approach their work, not as stagnant jobs but as a learning opportunity. Allowing workers to progress and build on their skills ensures employee retention, and encourages more people to join.
Want to build a groundbreaking eLearning platform?
Get in touch with us and learn how we can help you achieve your goals and objectives.
Strengthen Your Employer Brand with Edly!
The lesson we gain from this article is pretty simple: an investment in employees is an investment in the company itself. With the advantages of a corporate LMS made clear, the next challenge is to find the right kind of LMS platform that suits a company’s needs. This 6 step implementation guide can help companies plan and organize their corporate training program.
Edly’s workplace LMS solution can help organizations set up a state-of-the-art LMS platform, tailored to address their specific needs. Our workplace LMS can help you strengthen your employer brand by providing seamless learning experiences to your employees. Feel free to get in touch to learn more about Edly and even schedule a free demo!