Did you know that 75% of the companies in the U.S alone offer online learning? More than half of the Fortune 500 companies are already using learning management systems to scale their businesses. The popularity of elearning is rising with time because it is convenient and effective. With an elearning software solution in hand, companies can seamlessly deliver training content that suits different roles and responsibilities to improve their knowledge retention regardless of location.
A custom built learning management system consists of multifold capabilities. Ranging from enhancing skills to improving retention, every company benefits from a learning management system.
Not to exaggerate, online learning has grown by over 900% in the last 22 years. The reason is the desire to learn at a preferred pace. The National Center for Education Statistics researched that around 58% of workers prefer online learning because they get the comfort of their homes to complete courses on their own time, which helps them to be more productive.
Another advantage of online staff training is it takes 40% to 60% less time to complete than classroom learning. eLearning provides a wide variety of interactive and engaging learning opportunities to the employees. Companies can globally reach learners, regardless of their locations and language, deliver the content of their preference and provide the luxury of the latest tools and technology while significantly enhancing their learning capacity.
Challenges With Online Learning
Companies implement new policies and procedures for their employees from time to time. Moreover, there are new standards that need to be implemented and taught to the employees as well to follow. There are some challenges with companies implementing elearning solutions for better learning.
Technological skills can be a Limiting Factor
Technology is being used in every company, which makes all employees familiar with them. Employees working as IT consultation services providers or similar deal with complex systems.
One of the biggest challenges of implementing elearning solutions is that not everyone is open to change. Sometimes it becomes difficult to convince the leadership to make a certain technological investment.
Need for Investments
New elearning solutions require some investment, which not every company can make. Building your own program from scratch requires a lot of initial work. Many companies refrain from this initial investment regardless they get substantial ROI.
There may be a few more challenges that the companies and employees may face when integrating new technology such as elearning in their systems. An LMS can be of great support here.
3 Reasons To Implement Online Learning With LMS
In a workplace with a learning environment, employees always stay encouraged and deliver a better outcome. Integrating custom LMS development solutions makes elearning efficient and convenient. Administrators can deliver training in any form they see fit and distribute them that can help them improve the knowledge retention of the employees.
LMS software today is used by numerous organizations to deliver elearning. The LMS market is expected to reach USD 25.4 billion by 2024, as per the MarketWatch, with a compound annual growth rate of 23.8%.
These are the three reasons that show how LMS software can help implement online learning so seamlessly.
LMS Can Help Companies Manage Training
Not just an ordinary software solution, LMS holds a greater power, more than just learning. Today’s learning management system is integrated with the latest tools & technology capable of handling multiple tasks.
Business executives can engage themselves with the LMS solutions and deliver measurable results. As an efficient tool as a learning management system, companies can track & report on online learning. The analytics and measurements can help the administrators to make any necessary changes in the modules or programs created to match the needs of the workforce. LMS can certainly offer the management a lot of scopes to simplify online training delivery in multiple ways, and to begin with, we have reporting and analytics features.
Improved Engagement Guaranteed With LMS
Employee engagement is the most essential aspect of any company to ensure the continuous scalability of the business. Companies try all they can to encourage and engage their employees in order to retain them. Integrating a learning management solution in your existing system can change the structure of employee training aiding the workforce with all they require to eliminate their skill gap and promote better productivity.
A learning management system can foster ownership of training to help companies to engage their employees more. Within LMS, administrators can deploy micro and blended learning to new technology integration, such as AR/VR/XR/MR, to make content engaging and captivating that cannot be overlooked. Moreover, a learning management system can foster self-paced learning that can boost engagement and encourage them to complete their training.
Since LMS is a creatively interactive tool that leverages learners to take complete ownership of their training. Sharing and collaborating with other learners is easier with an LMS, which helps in better understanding of the courses encouraging engagement. Employees can share and comment on any content, take assignments & quizzes, and participate in various games to score more.
The Gamification feature is the most interactive form for employees to progress themselves to the next elearning segment, making learners more present and engaged throughout the training. When surveyed, collaborative learning can make learning effective and help employees feel connected to their peers.
Digitally Transformed Business
One of the major support of a learning management system is that it provides complete support to the organization that is looking for or undergoing digital transformation.
Since the pandemic has forced many organizations to shift their regular methods of business operation to digital and remotely accessible ones. To stay competitive today, corporations in all industries are more inclined toward adopting new technologies that not just transform their businesses but also streamline their operations.
As per AI Multiple, the digital transformation market is expected to increase at a CAGR of 23% from 2019 to $3.3 trillion by 2025. Additionally, there have been more reports regarding digital transformation.
- Almost 70% of the organizations are either planning or have a real-time strategy to digitally transform their business.
- Around 89% of the organizations have already adopted a business strategy(digital-first).
This is not it, by 2025, platform-driven interactions are estimated to allow almost 2/3rd of the $100 trillion in digitalization value at stake. Also, in 2025, the digital transformation is predicted to add $100 trillion to the global economy.
Certainly, LMS software will aid in transforming the organization digitally while offering better operational efficiency. However, this is only possible when the business leaders are provided with the requisite training that will keep the workforce informed regarding any changes.
LMS integrated tools, such as micro, blended, and video-based learning, can seamlessly generate training segments and deploy them to the LMS for learners to easily access the newly posted content.
Moreover, the responsiveness of the LMS allows anytime & anywhere accessibility, sharing, and providing employees with the right training & skills. As a result, the company can pave the way to continuous success and profitability while ensuring employee productivity.
In a Nutshell –
Certainly, a learning management system holds a great capability to scale the business and make it future-ready. With functionalities like the training, course creation, quick deployment, reporting & analytics, monitoring, content management, authoring tools, and integration of the latest technology & applications can help in digital transformation initiatives.
A learning management system is an optimum platform to support elearning solutions and provide training to remote employees, regardless of geographical location. Features like social sharing and commenting can seamlessly collaborate with a lot of learners for better understanding and engagement. Intuitive & interactive interfaces and gamification can make training more fun and effective as there is constant encouragement for the learner to achieve more.
If you are concerned about the cost of implementing an LMS, then you should know that the cost of recruitment and replacing staff members would cost the business more instead of paying one time for the LMS implementation. So, choose as you see fit!
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