Owners and executives from most every company, regardless of size, industry, or location, now sees the value in offering corporate training and employee development. In fact, the absence of company-sponsored training and development makes it very difficult to compete, given growing levels of competition and increasingly stringent regulatory requirements. In addition, corporate workplaces are more complex than ever, making it imperative that each employee receives guidance regarding company standards of behavior.
Unfortunately, many small and mid-sized companies can find the costs associated with the development and delivery of corporate training to be challenging. The primary costs for training are comprised of two elements:
Over the past decade or so, there has been a dramatic shift in the delivery of corporate training. The core approach for most organizations has moved away from in-person, classroom-based training, in favor of an online learning-based approach, often referred to as “eLearning”. The foundational technology to support an eLearning-based training program is a learning management system (LMS), which can be very expensive to install and maintain.
While great training programs are driven by great content, the development comes at a significant price. It is now estimated that the development of a single one-hour course can cost upwards of $15,000. This quickly becomes cost-prohibitive for many companies, given that a comprehensive program can require many courses to ensure that employees from all different roles and responsibilities receive the training they need.
A Cost-Effective Approach to Corporate Training
Fortunately, as the corporate training industry has continued to evolve, so too have the solutions to make it more cost-effective.
SaaS-Based LMS Technology
LMS technology is now widely available in a SaaS-based model. This approach eliminates the need for a large capital investment in the software and hardware required to run an LMS on-premises. Most SaaS LMS vendors now offer a subscription model, allowing your organization to access the specific features and capacity you need and to scale up (or down) that capacity as your corporate needs change over time. And with a SaaS-based approach, the LMS vendor takes responsibility for the ongoing management and maintenance of the platform.
Ready-Made Training Content
A second evolution in the corporate training industry is in the availability of ready-made content. Working with a ready-made content training library provides your organization with immediate access to the content and courses you need to deliver comprehensive and ongoing training to your employees, at a fraction of the cost it would take to develop these from scratch. It also provides a great way to access the various subject matter experts (SMEs) you will need to cover a wide array of training topics.
LMS Portals: White Label Resources for Cost-Effective Corporate Training
At LMS Portals, we provide our clients and partners with a SaaS-based LMS, along with a complete library of ready-made corporate training courses. Both our technology and content can be white labeled to allow you to showcase your own branding within the learning environment and on your course offerings.
The LMS Portals platform is offered in a multi-tenant architecture to allow an administrator to launch and manage a dedicated training environment (portal) for each of your unique audiences, both internal (employees) and external (customers, partners, suppliers, etc.). Each portal you launch is white labeled and provides numerous opportunities to add your own branding elements.