Training and development have always been crucial business needs. Initially, employers used training to familiarize new employees with workplace policies and safety practices. However, today's workforce continuously seeks career growth opportunities, and forward-thinking employers are using the latest technology not only to provide essential training but also to design and track employee career paths. Because career development is especially desirable — and increasingly expected — investing in these efforts can greatly assist with employee attraction and retention.

Learning Management Systems (LMSs) enable businesses to provide employees with comprehensive training and development programs, including onboarding, specialized learning plans and ongoing compliance training, resulting in numerous benefits for both employees and the business in the long run.

Increase Employee Retention

Investing in employee learning and development is an effective way to enhance a company’s culture and employee engagement. It demonstrates the organization values its workforce and supports their professional growth and career advancement. In addition, in today's highly competitive job market, continuous learning and development can help employees remain up-to-date and competitive in their areas of expertise. Further, it can create opportunities for career progression within the company, resulting in improved employee retention and reduced turnover rates.

Enable Employee Advancement

Businesses can provide employees with the necessary resources to acquire new skills that will help them achieve their career goals. By taking advantage of career roadmaps within an LMS, employers can offer more engaging training that will fortify and accelerate this process. Many employers also opt to offer access to certification programs. This not only benefits the individual employee but also the company as it creates a diverse and versatile workforce, as well a queue of potential options for other roles that need to be filled down the road.

Improve Knowledge Retention

One of the most significant benefits of using an LMS for employee training is improved knowledge retention. The Research Institute of America concluded that e-learning boosts retention rates by 25% to 60%, compared to 8% to 10% retention rates with traditional training. An LMS allows employees to learn independently and revisit materials as needed. Plus, many offer gamification, incorporating competitive games into the learning plan, motivating employees to learn and progress in their careers. Gamification of learning could involve, for example, having quizzes regularly and rewarding employees with badges or certifications for achieving specific learning objectives.

Track and Measure Training Success

An LMS makes it easy to track learning objectives and identify skill gaps, thus allowing organizations to address them more effectively. This approach enables businesses to measure the efficacy of their training and development programs by tracking employee progress through the learning platform. With this information, employers can make informed decisions about employee progress and promotion opportunities, as well as identify any needs for program adjustments and updates.

Maintain Compliance and Meet Business Requirements

Training requirements vary across industries, and it's crucial for businesses to document that their employees have completed courses mandatory to meet compliance stipulations and insurance requirements. One way to ensure compliance is by using an LMS to assign the required training and digitally track course completion. Additionally, workflows can be set up to reassign courses, such as recurring safety training that must be completed annually to maintain compliance.

In today's world, it has become a standard practice for insurance companies to demand evidence of cybersecurity training and preventive measures before granting cybersecurity insurance coverage. An LMS can come in handy for organizations to validate successful course completion through easily accessible digital records. Moreover, when an LMS is integrated with the company's HRIS, records can be linked to employee profiles, making it easier to track and manage required training for all employees.

Boost Cost-Effectiveness With an LMS

Traditional training methods can be expensive, with the costs of materials, trainers and employee time off. However, an LMS allows businesses to develop and deliver training online, reducing these costs significantly. With an LMS, businesses can also easily track employee progress and performance without dedicating resources to manual tracking. Moreover, a learning management system can also provide personalized learning paths for employees, allowing them to focus on areas that need improvement. This targeted training approach ensures businesses are not wasting resources on irrelevant or unnecessary training.

Incorporating an LMS in employee training and development can significantly benefit employees and businesses. An LMS can help enhance employee retention, reducing costs and facilitating personalized learning with improved knowledge retention. With the latest learning technology becoming more accessible and cost-effective, consider taking full advantage of LMS to reap its numerous benefits.