Considering that a recent MarketsandMarkets study suggests that the Learning Management System (LMS) market will grow from $5.22 billion in 2016 to $15.72 billion in 2021, it’s hardly controversial to say that Learning Management Systems will be an integral part of many companies for the foreseeable future.
The competitive edge offered through a LMS is to be found in implementation and optimization, that is, how companies utilize the tool. We all recognize the value of a good LMS as a vehicle for efficient and effective on-boarding, but here are several less obvious benefits that, if properly harnessed, can help a company inch ahead of its competition.
1. Employee Growth
As a supervisor, you’d like to see even the most experienced and well-qualified hires improve over time. Offering your employees the resources and opportunities necessary to consistently engage in on-the-job learning will not only help build a more skilled and competent workforce, but will also demonstrate to your employees that you are invested in their success and professional development. Even as one’s job remains fundamentally unchanged, if, through exposure to continuing education materials, one is able to execute one’s duties in increasingly efficient and adept ways, the likelihood of experiencing discontent associated with professional plateauing and workplace monotony greatly decreases. Thus, fostering employee growth benefits a company not only as a means to increase human capital, but as a morale-boosting motivational mechanism as well.
In order to harness this dual benefit, companies must ensure that employees receive the right learning materials at the right time. Learning modules should be highly customizable so as to provide each employee with resources tailored to his or her needs, and Continu’s Learning Tracks feature makes it easy for companies to create multiple unique, interactive, and engaging courses in a matter of minutes. Further, assignment distributions are made easy by our Workflow automation function. Supervisors no longer need worry about juggling dozens or even hundreds of employees’ progress, as our platform’s automation capabilities mean that each employee will receive the materials he or she needs at just the right moment.
2. Collaboration and Community
According to Bersin by Deloitte, 80% of workplace learning happens via on-the-job interactions with peers and supervisors. As such, an effective LMS should incorporate this collaborative tendency and recognize that learning is a fundamentally social experience. The workplace community is an essential support system for each constituent member, and recognizing the value of this kind of “blended learning” (that is, learning done both online and in-person) is fundamental to the smooth integration of any LMS.
According to Bersin by Deloitte, 80% of workplace learning happens via on-the-job interactions with peers and supervisors.
At Continu, we’ve developed an intimate, interactive company registry that, through dynamic and searchable profiles, functions more as an intra-company networking community than an ordinary corporate directory. Our People Search and Skill Search options enable employees to connect with each other across locales and departments, increasing the opportunities for informal mentorship, thought leadership, and meaningful cross-expertise engagement – all of which go a long way toward guaranteeing not only that our LMS is optimally utilized, but that a company is able to craft and maintain a cohesive culture.
3. Company Unity
Speaking of which, it’s no secret that company culture can be a challenging beast. Hiring practices focusing not only on skill and experience but on compatibility and fit are a requisite first step in preserving a corporate ethos, but successfully integrating new employees into your company requires an ongoing effort. Even if a new hire is an expert in his or her field, he or she is not automatically an expert in the way your company does business.
Especially in circumstances where a company operates multiple offices or contracts remote employees, LMS-based on-boarding (as well as continuing on-the-job blended learning) is often the best way to provide employees with support, to forge a strong bond between supervisor and supervisee, and to welcome an employee into their team. An LMS can’t determine your company culture for you, but in a fast-paced, hyper-growth environment, it can be the only way to make sure that everyone remains on the same page.