Companies with robust training programs have 30–50% higher retention rates than those with lackluster training. If your training doesn’t cut it, your business will likely lag behind competition and run into serious problems. So, it’s critical to get your training on point.
Why Is a learning management system (LMS) Important?
An employee training program can be a headache to schedule. Creating a viable plan that causes the fewest disruptions can be a challenge. Online learning management systems provide a more flexible way to train your team. Your employees can access the training on digital devices from anywhere at any time.
In addition, you can create and manage several aspects of your training on a single platform. For example, your onboarding, compliance and sales training program can all be available at the click of a button. This means you can stay on top of how you organize your training.
Moreover, your employees can refer to the online platform whenever they have queries or need to relearn something. Having a knowledge base at the tip of your employees’ fingers will immensely help with reinforcing what they learn.
Signs You Need a Learning Management System
Here’s how you can tell whenyour business needs to migrate to an LMS.
Your Sales Are Sluggish
Slow sales are a major sign of a problem. This is especially true when your salespeople appear to be promoting your product and going through all their processes as they should.
Here are some of the reasons that can cause sluggish sales:
- Not grasping the key features and benefits of your product fast enough.
- Not clearly articulating how the product or service solves buyers’ pain points.
- Fumbling through calls and not following up on time.
- Struggling to overcome objections.
- Getting overwhelmed and disengaged.
These pitfalls point to hiccups in sales training programs. An eLearning platform offering effective sales training programs can help overcome such hurdles. Your employees will have quick and easy access to the information they need in order to master the skills . This can help improve performance, boost engagement, and increase your sales.
A learning management system also allows you to integrate assessment and reporting tools. That way, you can effectively monitor progress and improve your training. For instance, interactive videos and simulations test employees’ knowledge and provide immediate feedback. Dashboards on the system track performance indicators such as completion rates.
Your Employees Aren’t Taking Your Training Seriously
If training is long, tedious and uninspiring your employees aren’t likely to take it seriously. You will often have to give a strong nudge to get reluctant employees to join your training.
Some won’t even bother and those who sign up won’t have the best feedback to give. It will be clear that people just aren’t engaged. Such training will not bear many tangible results.
A learning management system can help develop engaging courses that will keep your employees captivated. You’ll have more options for interactive learning tools such as games and simulations. In addition, it will be easier to integrate and coordinate social learning features such as discussions and team assignments.
Your Staff Turnover Rate is Shooting Up
A high turnover rate can stand in the way of productivity. For example, if your salespeople are constantly changing, it becomes difficult to connect with buyers and make repeat sales.
What’s more, a revolving door of staff may put a major dent on your company’s reputation. This can make it harder to attract talent and effectively manage your business.
Not to mention how costs can balloon if you’re constantly recruiting and training new staff. A Center for American Progress report says that employee turnover can cost the organization between 16% and 213% of the lost employee’s salary.
A solid training program can come to your aid by lowering staff turnover. According to Leftronic, 94% of employees will agree to stay longer if the company invests in employee training.
A learning management system allows you to:
- Train your employees in a way that makes the content meaningful to them.
- Set clearly defined goals.
- Give rewards for attaining training goals.
- Personalize your team’s learning experiences.
Your Onboarding Process is Not Effective
If your onboarding process moves at a snail’s pace, employees will take too long to get up to speed and become productive. The longer employees take to get the hang of their new roles, the lower their confidence levels will be. This can lead to employees becoming disengaged and missing their targets.
In addition, there is a higher risk that they’ll jump ship at the first opportunity they get. A survey by Hibob found that 64% of employees are less likely to stay at their new jobs if they experience a poor onboarding program.
According to Hireology, a standardized employee onboarding process results in 50% greater productivity than non-standardized onboarding. A learning management system allows you to provide a structured approach to deliver the content and tools your employees need to hit the ground running.
Set Your Business Up for Success
From engaging delivery to assessment and feedback, investing in a learning management system can improve how you onboard and train your staff. This can improve your business in all key result areas, such as sales, customer service or finance. So, keep an eye out for these signs that tell you when it’s time to move to an LMS.
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