The Value of a Dynamic Learning Management System in 2021
The shift to online and hybrid learning has accelerated over the past year, with online learning and development programs emerging as must-haves for the workplace of the future. The 2021 LinkedIn Workplace Learning Report found that 79% of learning & development departments plan to spend more time and money on online learning throughout the next year.
There are countless ways to incorporate online learning initiatives into your business model. To do this, you will need to find an effective mechanism for conducting online training, and decide whether to hire an external company to help you, or keep it in-house. In this article, we will be discussing Learning Management Systems (LMS) as a way your company can embrace the benefits of e-learning.
What is a Learning Management System? (LMS)An LMS is a platform or software that is used to create and distribute online courses and training. It is an efficient way to run online learning programs, for administrators as well as users. Using a learning management system allows you to quickly build courses, potentially without the help of a developer. Since the early 2000s, learning management systems have evolved into a $2.5 billion business, with 79% of all LMS users coming from outside of the education industry.
How VForce is Embracing Learning Management SystemsVForce is the first and only comprehensive remote workforce solutions platform. We utilize one of the leading platforms–our team of experts can help you decide which platform could be right for your remote team, as well as help you set up your own courses and training modules. We use our LMS to help businesses with pre-interview screenings, psychometric testing, onboarding, employee training, leadership development, professional development for veterans, and much more. Using an online system allows our users to access course material from anywhere, at any time, on their PC, tablet or smartphone.
Benefits of Using a Learning Management System
Many companies use an LMS to create standard employee training and onboarding materials, but the possibilities are extensive; you can conduct employee upskilling and reskilling, soft skills training and compliance training, screen potential interview candidates or develop courses on any relevant topics for your business. Using an LMS allows you to create dynamic courses that are easily customizable, so you can tailor and personalize your content for each learner if desired.
Using an LMS for asynchronous learning can make your courses easier to consume, which in turn can make them more impactful. The easier you make it for employees to complete online training courses, the more likely they are to complete them and retain the information. You can make the materials accessible forever, so they can always check back if they need a refresher. Users can learn on their own schedule and at their own pace.
Learning management systems can be very cost effective, and quickly boost your return on investment. If you are using the system to sell your courses, some LMSs integrate with Salesforce and other tools, allowing you to see a direct correlation between your training and sales numbers. Though they are an investment, they are an investment that will save you money in the long-run. You only have to create a course once, and then it can be adjusted and repeated over time. 360Learning reports that many large companies have saved thousands or even millions of dollars by switching to an online learning model. If you are using an LMS internally, you can save money by improving employee satisfaction and retention, which will lower the potentially exuberant costs of hiring and training new people.
Utilizing an LMS can also help you foster a positive company culture. You can conduct team building activities and get feedback from your employees, while boosting their morale, satisfaction, and retention. The Research Institute of America found that opportunities for online learning boosted retention rates by 25-60%, compared to retention rates of 8-10% with traditional training. This is because e-learning employees have more control over the learning process when it is done asynchronously and are able to revisit training as needed.
Embracing remote learning with an LMS has endless benefits for professionals including convenience, reduced cost, increased course offerings, and positive impacts to your culture. Many remote companies are taking advantage of virtual learning systems, but all types of companies can benefit from this model.
VForce has many resources available to you on your journey to include employee learning, training and development into your business model. Our experts can help you and your team with cutting edge leadership development and sales training courses, onboarding, and more. Contact us today for a free consultation!
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