Updated: Apr 25, 2021
LMS Portals provides a cloud-based, multi-tenant Learning Management System (LMS) that allows for the launch and management multiple private eLearning environments, all from a single, centralized administrative console. The system provides our partner organizations with a unique opportunity to generate new revenue streams by leveraging your skills and knowledge for corporate training and eLearning programs. We work in partnership with consulting and training organizations to offer our system in support of compliance, human resources, healthcare, financial services, and other types of corporate training initiatives.
The Corporate Training Market
Corporate training, also referred to as “workplace training” refers to any type of instruction for employees that helps them develop the skills they need to effectively perform their job roles and to conduct their work in legal and ethical ways. Employee orientation, sales skills, compliance awareness, and business ethics are some of the areas in which corporate training has proven to be essential for employee success and to enhance a company’s competitiveness. While skills training can be offered by in-house workers, it is now commonly outsourced to external providers and conducted remotely using eLearning technologies.
According to the latest market research report by Technavio, the corporate training market is expected to grow by more than $52 billion (U.S.) between 2020-2024.
The Growth of eLearning for Corporate Training
eLearning refers to the use of electronic technologies (typically, the Internet) for the delivery of various types of education and training, including corporate training. eLearning enables the delivery corporate training to employees through engaging and interactive content. It offers the use of recorded training materials as well as live training sessions where users can interact with the instructor in real-time.
A recent study by Small Business Trends found that 98% of all companies plan to use eLearning by the end of this year. The report also states that companies have expanded their use of eLearning technologies by more than 900% over the past 15 years.
eLearning has emerged as a cornerstone for corporate training, given the advantages it offers over traditional, classroom-based training, including:
eLearning eliminates many of the expense requirements associated with classroom-based training, such as travel, on-site instructor costs, catering, and the printing and distribution of training materials. And because of its flexibility (allowing employees to conduct their training activities after hours), it minimizes lost productivity.
The opportunity for employees to work at their own pace provides a powerful advantage for eLearning over instructor-led training. With eLearning, employees can take the time they need to comprehend each piece of course content before moving on to the next section.
Many LMS platforms now include tools to support communication between employees and instructors, as well as collaboration among employees. These opportunities for communication and collaboration have proven to support and enhance the employee learning experience.
With classroom-based training, it can be difficult to collect, compile, and analyze user engagement and success data. eLearning eliminates these challenges by offering the opportunity for the capture and ongoing review of detailed analytics. This data can be extremely beneficial as you look to enhance and expand your corporate training program over time.
eLearning Use Cases for Corporate Training
Some of the most common use cases of eLearning for corporate training include:
Ensuring that new employees gain the skills and knowledge they need to perform in a new working environment.
Sharing information and instruction regarding the regulatory rules that apply to your business and how employees can effectively perform their jobs while adhering to these rules.
eLearning has proven to be a highly effective way to train sales teams regarding the best practices for selling a company’s products and services.
eLearning courses can help develop a workplace culture that encourages productivity and teamwork while allowing employees to feel empowered, safe, and secure.
The LMS Portals Corporate Training Solution and Revenue Opportunity
The LMS Portals multi-tenant learning management system architecture allows our partner organizations to “spin up” new private eLearning environments on-demand. The system offers a powerful way to gain entrance into the growing corporate training and eLearning market, without having to incur the massive expenses associated with software development, hardware deployment, and system management.