Incorporate a Learning Management System for eLearning delivery to help directly and indirectly save money on your training initiatives.
An LMS is a tool that can be extremely beneficial to your business when used to deliver eLearning as a part of a larger training program (classroom training, on-the-job training, social learning etc.). If you determine that highly-engaging eLearning content will be a beneficial portion of your training program, delivering this content in an LMS will be one of the most effective ways to assign, track, assess, and report employee progress. As with all business initiatives, cost savings are dependent upon the nature of your specific business (number of employees, overall cost of training program etc.) but, in our experience, we’ve found that utilizing an LMS to deliver and manage your eLearning content can help you save money both directly and indirectly.
Let’s start with the direct, quantifiable potential savings of converting some of your Classroom Training to eLearning:
- Minimize travel costs – no need to book flights or hotels for your employees to attend your eLearning course.
- Reduce course collateral printing costs – all material is available digitally.
- Limit classroom and resources costs.
- Minimize instructor costs.
- Less time away from the job – productivity stays up when employees stay at work.
- Scheduling flexibility – let your employees take required training according to their schedule, whenever it is most convenient.
There are also ways using an LMS to deliver eLearning can potentially save you money indirectly, though they are much more difficult to assess an accurate dollar amount:
- Lower potential business risks (especially concerning compliance and regulatory training) – being able to accurately deliver, track, and prove that your employees have successfully completed their mandatory compliance training can be invaluable.
- Tracking capabilities – understand which employees have or have not completed assigned and optional training. Advanced reporting allows management to monitor and proactively intervene as necessary.
- Automatically assign training – ensure that the right people get assigned the right training with automated rules and assignments.
An effective training program is all about utilizing the right tools for the job while saving money up-front and in the long-run. Your training needs are obviously unique to your organization, however if eLearning has a place in your training program, then considering implementing an LMS as one of the more effective methods for delivering, tracking, assessing, and reporting on the success of your courses.
Our team at ICS Learning Group, creators of the Inquisiq LMS, would be happy to speak with you more in depth about how an LMS can save you money and provide recommendations for how Inquisiq could be used to deliver your eLearning content and improve your training program.
We’d love to hear from you!