In the 21st-century corporate organizations are boiling pots of research and innovation. Something or the other will be continually on the anvil or ready to be launched into the market. It requires a great amount of professional knowledge before the application of the same on their solutions to achieve the economic goals of the organization.
Corporates go through or have to go a lot of Learning and Development (L&D) in-house. Some of them are:
- Employee Onboard Training
- Compliance Training
- Skill Upgradation
- Sales Training
- Leadership and Management Training, and so on
For all these pieces of training to take place, you need a Learning Management System (LMS). The LMS plays a pivotal role in training your audience, but at the same it costs you. To cut the costs on having a separate LMS for each entity under your umbrella corporation, consider the following aspects of an LMS. (In other words, you are intelligently spending money on a corporate training LMS so that you can reap in better ROI in the future.)
Let see the factors that save you a lot by considering an LMS with these features but promise good returns.
It means a single instance (or software code) supports its use by multiple users (organizations/institutions). And each user can’t access the data of the others even though they employ the same platform for L&D.
Any conglomerate with multiple lines of business, even more than one, should look for this extremely helpful feature. A very few LMSs in the market provide this feature. For corporates, this useful character of a platform saves from burning a hole into their pockets again and again, but for LMS vendors it’s quite the opposite way.
If the learning platform doesn’t support your scalability, again you are at the risk of incurring money for a new one. Scalability of an LMS takes care of your organizations’ corporate training needs when you expand your business into new territories as a new organization/department.
Using the organization structure, create various organizations and their unique departments, even sub-departments under them using the same software platform.
#3 Blended Learning
The corporate training should aim for optimizing the learning and related resources at an organization – learning methods and personnel. Sometimes a face to face, traditional training works far better than a self-faced videos and online learning. For optimization of resources, you have to go for LMSs that feature blended learning – eLearning, Classrooms, Certifications, Programs and so on.
Coming to the feature availability, a few LMS vendors provide this feature in a combination with multitenancy.
#4 Mobile App Version
The learning or acquiring information methods have changed over the years. And most of the working world is online today. As you know the money, men and (time) management are critical resources for any corporates. So, utilizing the fruits of technological inventions to aid your L&D makes a better sense. For example, self-paced learning videos and assignments submissions can be done even through a mobile phone as you can expect the employees to have a smartphone for doing some ‘smart learning.’
#5 Subscription Plans
Choose a corporate LMS wisely. You may find an LMS loaded with awesome features, but it breaks your bank. What’s the use when some other LMS gives the same functionalities at a much lesser price tag? Shelling out more bucks on the former is no good idea unless otherwise you badly need those features unique to you.
For example, you have 50 users and each one is charged at $3 on ABC LMS. when you bill it annually it amounts to $1800. There is another DEF LMS which comes for 300 users at $1700 with the same functionality. So, which one is better ABC or DEF?
The money saved on corporate training is money earned as the ROI.
#6 U/X Experience
User Experience (U/X) of a learning platform should accommodate easy and quick navigation through the system. Why? It saves your learners from a lot of headaches and above the time to grasp and learn the contents of so and so training.
The U/X factor may directly not contribute to better the ROI, but it certainly influences the other factors, such as mentioned above, which contribute to it.
Yea, meaningful learning outcomes result from a better U/X of a learning system.
#7 Learning Analytics & Reports
What’s the use of corporate training when you have no provision to analyze the learning outcomes? Without proper learning analytics and reporting tool, you don’t know where your corporate training head to. Hence, if you aim for a better ROI, you will have to go for a learning system which has an in-built analytics and reporting tool.
Or you have to go for a tool that aptly analyzes your system data for insights to make the right business decisions in line with the economic goals of the organization.
In conclusion, if you look for an impressive ROI in each financial year from the pieces of training, check out for a corporate training LMS that incorporates these characteristics along with other unique features in-line with the aforementioned purpose.