Benefits of Learning Management Systems for Small Businesses
Managing a small business isn’t easy. Small business owners must take on multiple tasks and job roles, which can be overwhelming. Statistics from BLS show that 50% of small businesses don’t survive beyond their fifth year. Part of this is due to the lack of adequate capital, however, more commonly it is the lack of qualified employees. Investing in Learning Management Systems early can help your small business remain successful.
Employees in small businesses often multi-task, making them very valuable to businesses. Unfortunately, finding reliable and capable employees often proves challenging. One main employee issue for both small and large businesses is a lack of training. Untrained employees are inefficient and prone to expensive mistakes. However, amidst the tight budget and schedules of small businesses, owners can significantly benefit from incorporating a learning management system or LMS.
Below are the main reasons why small businesses should adopt a learning management system.
1. No cost of HR managers
Employees of small businesses tend to take up multiple roles to keep the business operational. Small businesses also often have a limited budget, making it impossible for most businesses to hire HR managers to manage their employees and offer training. Fortunately, a learning management system can eliminate the need for all these costs.
Once you set up the learning paths relevant to your business, the learning management system handles all other training needs. This makes using an LMS more affordable than hiring an HR manager.
2. Eliminates the need for outsourced training
While outsourcing might initially seem like a good idea, sending your workforce to external training can have negative outcomes. For starters, you will restrict your employees to what the training company offers. In most cases, you will have to settle for training programs that aren’t completely relevant to your team or industry.
Additionally, outsourcing training means that employees will have to leave their workplace to partake in these programs. This may prove time-consuming, especially for small businesses that rely on one employee to handle multiple tasks. Using a learning management system solves all these problems. LMS makes the training materials readily accessible, allowing employees to learn anywhere at any time.
3. Easy access and storage of training materials
The days of filling your office cabinets with training materials are over. It is now common for businesses to store their crucial data online in the technological era. The same applies to a learning management system. Businesses can store and track all employee records, training progress, and other HR data with this system.
A learning management system also ensures that all employees always have access to updates and the latest company information. Setting up new employees with relevant training resources becomes even easier as the business grows. While it might not seem beneficial when you only have two or three employees, you can prepare for when this number starts to grow.
4. Small businesses benefit from personalized training
Because your business is still small doesn’t mean that you can’t benefit from custom training programs. Instead of building complete training programs for your team from scratch, a learning management system allows small businesses to leverage existing courses from the platforms’ marketplace. Businesses can tailor these beginner courses to make them relevant.
Small businesses can create a learning pathway with several courses from the LMS marketplace that covers multiple skills for different job positions. A learning management system has incredible tools, such as inline editing abilities, which makes course creation a breeze. You simply need to click a few buttons or drag and drop files.
The Bottom Line
Small businesses across all industries using a learning management system can save the time and costs of conducting employee training. With the adoption of learning management systems increasing, you should consider using it in your business for workplace success. Additionally, by ensuring your employees have up-to-date training, your business remains competitive.