How a Corporate LMS Can Help Drive Business Success
Corporate training is a critical component of organizational development, and it has become increasingly important in today's global business environment. Here are some statistics on corporate training worldwide:
The global corporate training market is expected to reach $370.3 billion by 2027, growing at a compound annual growth rate (CAGR) of 9.9% from 2020 to 2027. (Source: Grand View Research)
In 2020, the global e-learning market was valued at $144 billion, and it is projected to reach $374.3 billion by 2026, growing at a CAGR of 14.6% from 2021 to 2026. (Source: MarketsandMarkets)
In 2020, the United States spent approximately $83 billion on corporate training, while Europe spent around $51 billion. (Source: Training Industry)
The most popular training methods used globally are instructor-led classroom training (48%), e-learning (30%), and on-the-job training (7%). (Source: Training Industry)
The top three areas of training for organizations worldwide are compliance (49%), leadership and management (36%), and technical skills (35%). (Source: LinkedIn Learning)
Approximately 44% of organizations globally say they have a skills gap, and 70% of employees say they do not have the skills they need for their current job. (Source: Udemy for Business)
In 2020, the COVID-19 pandemic accelerated the adoption of online learning, with 98% of organizations moving to online training, and 60% of organizations increasing their use of e-learning. (Source: McKinsey & Company)
What is a Corporate LMS?
A corporate LMS (Learning Management System) is a software application used by organizations to manage and deliver online training and learning programs for their employees. It is a platform that helps organizations create, manage, and track their training programs, courses, and learning materials.
Corporate LMSs provide a centralized platform for organizations to:
Create and deliver online courses and training programs
Manage and track employee progress and performance
Assess and evaluate employee skills and competencies
Provide customized and personalized learning experiences
Analyze and report on training effectiveness and outcomes
Integrate with other HR systems, such as performance management and talent development.
A Corporate LMS can be cloud-based or installed on-premise, and it can be customized to meet the specific needs of the organization. It can be used for a wide range of training programs, from compliance and regulatory training to leadership development and technical skills training.
What are the Key Features of a Corporate LMS?
Some of the key features of a corporate LMS include the following:
Course Creation and Management
Corporate LMSs should allow organizations to create and manage their own courses, including the ability to upload and organize course content, create quizzes and assessments, and set up learning paths and certifications.
An LMS should allow administrators to manage users, including creating and managing user accounts, setting up user groups and permissions, and tracking user progress.
Reporting and Analytics
A corporate LMS should provide robust reporting and analytics tools to help administrators track learner progress and performance, as well as measure the effectiveness of training programs.
In today's mobile-first world, it is essential that a corporate LMS is mobile-friendly and allows learners to access training content on-the-go.
To increase learner engagement, some LMSs include gamification features, such as badges, points, and leaderboards, to incentivize learners to complete courses and improve their performance.
An LMS should support social learning by providing learners with the ability to connect and collaborate with their peers, mentors, and subject matter experts.
Integration with Other Systems
A corporate LMS should be able to integrate with other systems, such as HR systems, performance management systems, and talent management systems, to provide a seamless experience for learners and administrators.
Customization and Branding
An LMS should allow organizations to customize the look and feel of their platform, including adding their own branding and logos, to create a cohesive learning experience that aligns with their organization's culture and values.
A corporate LMS should provide a comprehensive solution that makes it easy for organizations to create, manage, and deliver effective online training programs that improve employee performance and drive business results.
The Benefits of a Multi-Tenant Corporate LMS
A multi-tenant corporate LMS is a platform that is designed to serve multiple organizations or tenants on a single instance of the software. Each tenant can have its own branding, courses, and user management, while still sharing the underlying infrastructure and technology.
Here are some of the benefits of a multi-tenant corporate LMS:
Since multiple organizations can use the same instance of the LMS, the cost of the infrastructure and maintenance is shared among all tenants, making it a cost-effective solution for small and medium-sized businesses.
A multi-tenant LMS can easily scale to accommodate a growing number of tenants and users, without the need for additional infrastructure or resources.
Each tenant can customize their LMS instance to meet their specific needs, including branding, course content, and user management.
Multi-tenant LMSs can facilitate collaboration and knowledge-sharing among tenants by providing a platform for them to share best practices, content, and training resources.
Multi-tenant LMSs can be quickly deployed, allowing tenants to get up and running with their training programs in a short amount of time.
Reduced IT Burden
Since the LMS is managed by the provider, tenants do not need to invest in IT resources to manage and maintain the platform, reducing their IT burden.
Security and Compliance
Multi-tenant LMSs can provide robust security and compliance features, such as data encryption, access controls, and audit trails, to ensure that each tenant's data is secure and compliant with relevant regulations.
About LMS Portals
At LMS Portals, we provide our clients and partners with a SaaS-based, multi-tenant learning management system that allows you to launch a dedicated training environment (a portal) for each of your unique audiences.
The system includes an embedded SCORM-compliant course authoring tool that enables most anyone to build engaging courses quickly and easily.
We also offer a complete library of ready-made courses, covering most every aspect of corporate training and employee development.
If you choose to, you can create Learning Paths to deliver courses in a logical progression and add structure to your training program. The system also supports Virtual Instructor-Led Training (VILT) and provides tools for online coaching and social learning.
Together, these features make the LMS Portals platform the ideal corporate LMS solution for your business.
Contact us today to get started or visit our Partner Program pages