WHAT IS AN LMS?
A learning management system (LMS) is a highly-tuned online tool that efficiently manages employee training, development, and engagement.
With an LMS, you create learning content, distribute it to your entire organization, track completions, and build a powerful community. An LMS is designed to streamline and manage everything you need to train your workforce in the most organized and productive way possible.
Think of an LMS like a high-powered engine that fuels training.
You might have all the pieces and content you need to create an amazing learning environment, but having an engine to power it is essential.
That’s when an LMS comes in handy.
An LMS is able to take all the components of great learning, organize them all in one place, and power an entire company’s training program. An LMS serves as a one-stop shop where employees can further their careers, managers can track compliance, and companies can communicate.
Perhaps the most beneficial part of learning software, though, is having a single tool to empower your employees. Training is standardized across entire organizations. This means everyone in your company has the same access to training materials, and no one gets left behind.
Who Uses an LMS?
Plenty of industries rely on an LMS for their training needs. Most often, we see them in these fields:
Fitness companies use learning management systems to keep their trainers in top-notch teaching shape.
Learners love to learn.
Compliance is huge in the medical industry, and an information-hub LMS is a great solution.
It goes beyond industries, too.
Within your company, a great LMS is centered around the learner’s actual career progression. Individuals can train to become managers. Managers can train to become leaders.
What is an LMS? Or, rather, what’s a good LMS? A good LMS will help everyone keep track of their own careers throughout their company. And a good LMS powers a company into a great place to work.
Do They Work?
Short answer is yes.
Long answer involves some numbers and fun stuff, but the answer is still yes.
Research done by the Brandon Hall Group, a study group that focuses on learning and development, shows correlation in key performance indicators (KPIs) after the implementation of learning management systems.
According to their study, after implementation, businesses saw a 40% increase in revenue, a 53% increase in both productivity and engagement. They also saw a 26% decrease in cost and 16% decrease in turnover.
While we can’t say these numbers are directly related to implementing an LMS, the same study found that only 1% of companies experienced any negative KPIs after implementation. So, that also tells us that something is definitely working. And that just very well be an LMS.
Should I Have An LMS?
So, now that we know the answer to our question, “what is an LMS?” we can move onto the bigger question of whether or not you should have one.
Whether or not you should purchase an LMS really depends on a number of things. Your company’s size, your training goals, and your financials are all important. But awareness is a great place to start. And now you know what an LMS is, see if you need one here!