As the owner of a small business, you often operate on a tight budget. However, that doesn’t necessarily mean that you cannot afford trainings. With the aid of a good Learning Management System (LMS), even a small business can train their staff. In this article, we will look how an LMS can benefit a small business:
Takes care of the cost involved in hiring HR Managers
When it is a small organization, employees play a variety of roles to complete different tasks which would otherwise require additional budgets and resources. It is not always a cost effective solution for a small organization to hire a HR manager who would manage the staff and take care of training. Hence, implementing an LMS might be the most apt solution in this case. You could set up some learning paths related to your industry and get your employees access to a course marketplace. The LMS would take care of all the training needs and you can establish your business without a pinch on your pocket.
Centralized storage for data and all training materials
An LMS enables you to store training data and other business information in one central location. It is better than storing data in several locations and multiple computers and then making it difficult to access them when needed. An LMS is the right solution when you need to access all your training data to train new hires and or make any updates to existing courses. This also implies that the chances of losing data are minimal with all data being securely stored in a remote server.
Solves the need for customized training
Even though your business is small doesn’t mean that you do not require customized training. Instead of building trainings from scratch, all you can do is take an existing training from the LMS and personalize it to make it relevant to your needs. Alternatively, you can also build a training path which would contain a string of courses that caters to a broad range of skills and competencies. To make the process simpler, you can use tools like Inline Editing that have made the course creation process as simple as child’s play with the click of a few buttons and drag and drop inter activities.
Keeps up with compliance requirements
The most difficult part for a small business is keeping itself updated with compliance laws to avoid paying huge fines. But enrolling for a good LMS will ensure you have required access to a broad range of courses from accredited learning partners. You can simply enroll for these courses with a single mouse click. The best part is you will have access to the most current courses without having to spend time on tracking training programs from different external providers.
Reduces the need to outsource your training needs
Outsourcing seems like a good idea in the initial stages. However, it means that you are restricting your employees to certain programs that are only available in their areas. This implies they often do not end up being trained on skills or competencies that they actually lack in. Also outsourcing results in employees leaving their workplaces to attend different workshops or trainings. If you have a good LMS in place, you could easily have your employees access the relevant trainings from the comfort of their homes or workplaces, thereby saving time and money. Also, they could up-skill themselves by accessing courses that are relevant to their industries and daily job roles and responsibilities.
Easily track employee progress and growth
With an LMS in place, you can easily track your employees’ progress and personal development through results and reports that are available whenever they participate in any training programs. For instance, if you want to check on a particular employee’s development path, you simply log in to the LMS and access his reports and statistics. Then you can work with him to further fine tune his skills so that you can eventually use him in the right business areas. Additionally, the employees could also get an opportunity to work in new departments and expand their knowledge base.
Proves to be a cost-effective solution
Since an LMS doesn’t require the use of any printed material or the physical presence of an instructor to impart trainings, it proves to be a more cost-effective solution. You do not have to spend a fortune on the travel costs of an instructor nor do you need to worry about printing training booklets.
So, now that you know you can benefit from an LMS irrespective the size of your company, save some time and money by implementing an LMS and reaping its benefits.