Most businesses today see efforts for improving efficiency and cutting costs as priorities in order to remain viable and competitive. Given this, the development of an effective and ongoing corporate training program is a critical initiative for businesses today. In fact, one recent study found that employees that participate in corporate training program will see their productivity rise by nearly 40%, proving that the right corporate training activities can increase efficiency in performing daily tasks. The same study also found that companies that provide corporate training can expect higher profit margins (up to a 25% improvement) than those companies who do not offer corporate training.
While corporate training can impact nearly every area of your organization, some of the most common courses and programs include:
New hire orientation and onboarding
Employee skills development
Leadership training
Compliance awareness
Sales and customer service training
Workplace culture and diversity
The Benefits of eLearning-Based Corporate Training
In the past, the only viable corporate training option for most companies was through the use of classroom-based, in-person training. The challenge with this approach, however, was in the expenses associated with such things as travel, instructor fees, catering, and the printing and distribution of materials. In addition, many organizations found it difficult to bring all of the students together in the same time and place for training sessions.
In recent years, as cloud-based technologies have continued to evolve as workforces have become increasingly remote (a trend that was in place even before COVID-19), online learning, or “eLearning”, has emerged as a preferred approach to training for many businesses.
Some of the benefits of eLearning for corporate training include:
Cost-Effectiveness
eLearning eliminates many of the costs associated with in-person, classroom-based training. It also removes the need for lost productivity as it allows employees to conduct their training activities during breaks or after hours.
Flexibility
In contrast with classroom-based training, eLearning allows employees to conduct their training activities at any time and from any place. All that is required is an Internet connection. This level of flexibility ensures your employees can access critical training information at the point of need and even allows for contextual-based learning.
Self-Paced
For many employees, the challenge with classroom-based training is in the need to keep up with the pace set by the instructor. eLearning eliminates this challenge by allowing your employees to learn at their own pace. They can even revisit training materials multiple times before moving on to the next section.
Analytics
Many eLearning technologies offer a level of data collection that is not possible with classroom-based training. With eLearning, you can capture, review, and share important metrics regarding user engagement, progress, and success. The ongoing review of this information can help you to evaluate your corporate training program and make changes as needed.
Learning Management Systems for Corporate Training
The foundational technology for all types of eLearning, including corporate training, is a Learning Management System, or “LMS”. An LMS is the application that is used to build, deliver, manage, and track your corporate training program.
While some companies choose to “stand up” their LMS on their own servers (self-hosted) they are typically very large companies that have the resources (both financial and labor) to deploy and manage the system themselves.
Today, most companies choose instead to work with a cloud-based LMS offered by a third-party vendor. With a cloud-based approach, your company can be up-and-running with state-of-the-art technology right away, without having to make a large, up-front capital spend. And working with a cloud-based LMS vendor shifts the responsibility for the ongoing management and maintenance of the system to the cloud vendor.
LMS Portals: A Cloud LMS Service for Corporate Training
LMS Portals provides our clients and partners with a cloud-based, multi-tenant learning management system that allows you to launch and manage private eLearning environments (portals) for corporate training. Each portal can be launched in minutes with its own unique branding and includes powerful supporting tools for course development, user onboarding, collaboration, analytics, and more.
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