Corporate learning and development are changing fast. If you’re stuck in the days of flying trainers out to your headquarters, putting them up in hotels, catering huge in-person trainings, and still not seeing results, you’re living in the past.
Now is the time of the corporate learning management system (LMS).
Corporate learning systems are changing the game for human resources, sales, and other departments around the world. Let’s take a look at what a corporate LMS is and why you need one.
What Is a Corporate LMS?
The idea behind a corporate learning management system is simple: it’s a place to organize all of the training materials within a single business. In some ways, it performs similar functions to corporate intranets.
Instead of a general-purpose platform for sharing information and collaborating, learning platforms are highly focused on information storage, sharing, and distribution.
For example, if you have a video course on how to sell your company’s products, each video could be part of a defined learning track. The LMS will guide users through the track in the right order, assessing learning along the way.
A learning management system might also contain product information, customer success playbooks, calling scripts, and any other information that’s useful to employees. While the focus is on learning and development, an LMS is primarily a central place to store information.
As you can see, learning management systems have a fairly simple purpose. If that’s true, why do you need one?
Here are 6 reasons:
1. Single Source of Truth
It’s hard to overstate the value of organizing all your training material in a single location. Employees know that quickly logging onto the LMS is all they need to continue their learning. They don’t need to log into different systems for different types of training. They don’t need to dig through their email accounts trying to figure out where to go for the next video or guide.
And we all know what it’s like to not be able to find the files you’re looking for. A corporate LMS ensures that whenever you need information about training, development, products, HR policy, or anything else, you know exactly where to look.
This central storage also aids coordinating processes that go between departments. Sales and marketing departments, for example, benefit from shared information and processes. If both groups keep their own versions of documentation, updates aren’t shared and miscommunications result. A single source of truth solves this problem before it starts.
2. Convenient Access
Getting employees to make time for learning and development is one of the most significant challenges facing trainers today. In LinkedIn’s 2017 Workplace Learning report, it was second only to budgeting concerns.
And it’s no wonder; traditional trainings require the coordination of many packed schedules. It’s hard enough to schedule an hour-long meeting, much less a half-day (or longer) training.
Modern teams are highly mobile—they travel for their jobs. They work from home. They’re distributed around the world. Corporate training software lets employees access the system from any device. They can learn from their computer at their desk, on their tablet at home, or from their phone when they’re on a business trip.
By structuring trainings as a series of microlearning sessions, you can make it even easier for your employees to get the knowledge they need. Shorter sessions of “bite-sized” learning provide more engagement, improve knowledge retention, and are more motivating than traditional trainings.
Microlearning isn’t feasible with traditional training. Corporate learning management systems make it easy, and that means more engagement and more learning. The added convenience for trainees is a game-changer.
3. Performance Tracking
With employees accessing training materials from all corners of the globe on their own schedules, how do you know who’s completed the training? Effective evaluation of training is a complicated beast. But corporate LMSes include advanced performance tracking features that keep managers abreast of training progression.
(Are you evaluating trainings or instructional design? Download our checklist to make the process easier!)You can see information about each employee—which trainings they’ve started, which they’ve completed, and the results of follow-up assessments. Follow-up quizzes also let managers see how well employees are learning the information in the trainings.
If employees are having difficulty with a particular module or topic, it might be time to update the training with something new.
4. Easy Updates (and Fewer Compliance Headaches)
All corporate trainers know the frustration of creating a set of training materials only to find that they’re already out of date or no longer necessary. Online trainings are much easier to update than printed materials, and the new information is instantly shared with everyone completing the training.
That amounts to big savings in both time and effort. And that doesn’t even count the cost of employee error or non-compliance. Not sharing the latest compliance updates can have significant consequences.
Compliance guidelines change regularly, and your company needs to be ready. Updating hundreds of printed binders or books is costly and time-consuming. A corporate LMS will save you money on updating and delivering trainings when regulations change.