How a corporate LMS can drive business success
Companies that deliver corporate training can boast a 218% higher income per employee and a 24% higher profit margin than those who don’t. Investing in employee training and development, when done well, is profitable.
However, corporate learning is changing rapidly. If you’re still betting on in-person training, making coaches fly to your affiliates and host instructor-led sessions after work, you’re stuck in the past. The ability to learn anytime and anywhere is a better fit for employees and partners. A corporate LMS is what enables the “anytime, anywhere”, and more.
Let’s have a look at what a corporate LMS is, and how your business can benefit from it.
What is a corporate LMS?
A corporate learning management system is software for delivering online courses and other learning content to your employees. It helps onboard new employees, then get them the knowledge and skills required to perform their roles, and, ultimately, advance faster in their careers. (If you like, you can learn more about how an LMS works and how to organize training with an LMS.)
Here are five reasons why you need a corporate LMS:
- You can save your company money since there are no more travel, accommodation, and instructor costs, or expensive training conferences.
- The learning experience is no longer bound to a classroom. Employees can take courses at their own pace, wherever and whenever it’s convenient.
- A learning platform allows you to train the staff from different locations at no extra cost.
- You can reduce senior employees’ workload to cut down the amount of face-to-face mentoring.
- It’s easy to keep track of who has completed a course and how well they performed.
How can a corporate LMS help your business?
New Hire Orientation
With a corporate LMS, you can put most of your employee induction training on autopilot. You only need to create a core training program once, and then assign it to all new hires. An orientation program is usually prepared by an HR manager on the following topics:
- сompany’s history
- mission, vision, and values
- corporate policies
- corporate culture
- organizational structure and leadership team
- products/services and their main benefits
- key clients and partners
To get deeper into how to use an LMS for induction training, see the article about employee onboarding software.
Outcomes: A good induction training experience can simplify and streamline the new hire adaptation process, increase their retention, and get them to work faster.
Once success is achieved with an orientation program, most organizations start to add more specific training: sales, operations, management, even training for how to use company benefits or put in for a vacation will probably make its way into the corporate LMS.
Here are a few examples:
Product Knowledge Training
Product learning can either be a part of onboarding for new hires or can be accessible for any employee who needs to refresh their knowledge. With an LMS for corporate training, you can also educate staff on new products or services, even before those products and services are released.
A typical online product training course gives learners comprehensive information about features, benefits, and how to use the product. There is typically a quiz at the end of the course to assess how knowledgeable the employee is about the product, and see if they need additional training.
Outcomes: Good know-your-product training can help empower your teams and boost both sales and customer satisfaction metrics.
Success Story
Job-Specific Skills Training
Job-specific skills are skills required for a particular job. For example, an architect needs CAD (computer-aided design) skills, a teacher must know how to plan lessons, and a programmer has to be great at coding.
Job-specific skills training is a core component of employee education, especially for those in technical roles. Because technology is constantly changing, even tenured employees need to update skills regularly.
With a corporate LMS, it’s easy to involve staff members in learning on a regular basis. It’s even easy to involve and engage staff members in collaborating to develop new training.
Outcomes: Ongoing job-specific skills training can help your employees always stay up to date with the latest developments and improve their performance.
Success Story
Sales and Customer Support Skills Training
Courses on sales teach learners how to sell products better: predict customers’ needs, present products in terms of customer benefits, handle objections, close sales, etc. Customer support skills training educates employees on how to make customers feel listened to, while quickly executing processes that resolve problems.
A corporate LMS allows you to automate the learning process and make training more accessible and engaging. You can provide your learners with beautiful SCORM-compliant courses, assess their knowledge with online quizzes, and develop their sales and communication skills with the help of dialogue simulations.
Outcomes: A good training experience can make your employees better equipped to increase sales, and well-trained service & support teams can convert customers calling about a problem into brand evangelists.
Success Story
Channel Partner Training
WIth a corporate LMS, it’s possible to educate channel partners across the globe. Such training gives them insights into your products, the development pipeline, new features, new product applications, and how-tos. Plus, you can provide your partners with compliance training and help them build sales and customer support skills.
Outcomes: Online channel training can help you enhance your company’s network and upgrade your business.
Success Story
By investing in a corporate LMS, you can provide your employees and partners with continuous training. Ongoing professional development is a driving force behind achieving goals and remaining competitive. Companies that know more, grow more!
Want to see an LMS in action? Give iSpring Learn LMS a 14-day test drive and check out all the features of the learning platform for free.
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Original post, — www.ispringsolutions.com/blog/corporate-lms-can-drive-business-success
