Restricted budgets, small staff, and limited skillsets collectively put small businesses at multiple disadvantages in comparison with medium-sized companies and large enterprises. One such disadvantage it has to face is in terms of providing adequate employee training to its recruits.
It’s no secret that small businesses find it difficult to bag the best talent out there. Job seekers generally prefer organizations with a recognizable name and large digital footprint, as they are usually a safer bet and look better on resumes. This usually forces small businesses to invest in their existing workforce as an alternative to recruiting. The solution, however, has a significant cost attached to it.
With that said, there is a solution out there that makes it simple and affordable to assign, track, and capitalize on employee training. Below we will talk about the importance of a Learning Management System for small businesses:
What Is a Learning Management System (LMS)? Before we talk about its impact on small businesses, it’s important to take a step back and understand what an LMS really is. An e-Teaching software, a LMS creates a virtual setting for employees to enroll in courses assigned to them. Small businesses are attracted to this benefit because it eliminated the need to invest in physical infrastructure, experts, and course material to provide efficient training to their employees.
Employers also enjoy the ability to assign courses, track employee progress, and take corrective action all from one centralized, online solution, opposed to simply ‘taking their word for it.’ Employers can also select pre-created courses or create content of your own and start training their employees right away.
With that said, a Learning Management System for small businesses has many benefits to offer. Here we take a detailed look at a few of them.
Cost Effectiveness. This is one of the most straight-forward benefits of a LMS. With traditional training, teaching staff needs to be hired, courses must be arranged, and a physical location must be reserved and setup for training sessions. Training through a LMS, however, can be carried out from anywhere at any time, even from an employee’s cell phone. Additionally, there is no need to hire HR managers to oversee the training process, since a LMS has a built-in system to keep track of progress and the entire training procedure.
Tracking Control over Training Progress. As mentioned earlier, a LMS provides you with complete control over tracking a trainee’s progress. No need to email one person, then another, and then wait for replies or feedback. There’s also no need to chase after employees to make sure they are working on completing the courses assigned to them. Within a leaning management system, the updated information will be available at a centralized place in your system and can be easily managed by just one person.
Personalized Training. A Learning Management System for small businesses will also enable employers to design a more customized training module – something that suits the requirements and structure of their business. Managers can assign training courses to new hires based on their position’s compliance requirements. Instead of creating modules from scratch, a LMS can provide business owners with accredited courses necessary for compliance.
A Wide Range of Material. Because of its online nature, a LMS gives you a chance to choose from a broader range of courses. Subject matter experts, professors, and professionals from all over the world at submitting new material for approval, with the best courses making it to various LMS solutions. The trainees can, thus, learn from the best practices and lessons from around the globe.
The virtual nature of LMS also allows its content to remain up-to-date and relevant. This will ensure that your employees are kept informed on the developing trends in their field, making them more adaptable to fast-changing scenarios worldwide.
Improved Customer Service. Complete, responsive, full circle customer service is no longer only available to large businesses with high paying accounts. Many LMS vendors have dedicated teams of customer service representatives whose sole job help their users overcome their challenges. If a small business ever runs into an issue with a course, training module, tracking feature, or other component of their LMS, they can be assured that they will be attended to by a knowledgeable customer service team.
Understanding Current Compliance Laws. A small business can’t afford frequent non-compliance fines and penalties within its limited resources. A LMS provides an excellent solution for preventing such scenarios by ensuring that all employees are properly trained and able to perform their job in accordance with the law. An updated training module on a LMS will guarantee that your employees are kept up to date with the latest changes in laws, policies, and the best practices in the market.
A Learning Management System is an ideal training and evaluation solution for small businesses. The deployment of such a system will not only make the company more competitive, but will also provide a workforce that stands second to none in the industry.