Tight budgets can make achieving lofty goals a bit of a stretch. The right learning management software can help your people team achieve meaningful goals without increasing costs or headcount – here are six ways you can get ahead with a little help from your tech
- Learning management software helps to create and retains top talent
- Create cost-effective people strategies to reduce talent management costs
- Access meaningful data to shape and inspire learning and development strategies
- Learning management software improves the employee experience
- Build your employer brand by showcasing the professional development opportunities you offer
- Technology helps teams create and maintain a competitive advantage
1. Learning management software helps to create and retains top talent
In a 2022 PwC survey of more than 52,000 workers worldwide, half (49%) said their job requires specialist training. That’s a lot of training and skills that will need replacing if they leave, so it would make sense to put more effort into holding on to top talent. And the need for ongoing training and upskilling is not limited to those in specialist roles. From entry-level to executive roles, ‘opportunities to learn and grow’ remain the number one driver for great workplace culture according to LinkedIn’s 2022 Workplace Learning Report.
LMS software with features such as a skills gap analysis tool will help people teams identify critical skills gaps on an individual, team, and company-wide level, and then deliver training to plug knowledge gaps before they become problematic.
Not only does it pay to invest in skills development early, but career progression is also a huge motivator for people when they’re deciding whether to move to another organisation. Proactively investing in your people’s development will benefit both parties in the future. After all, what’s worse than losing an employee after upskilling them? Retaining an untrained one.
2. Create cost-effective people strategies to reduce talent management costs
It may seem counterintuitive that investing in learning management software (LMS) will save you money. But these tools and technologies exist for a reason: to save you time, money, or unnecessary administrative work.
Technology is also an enabler; used correctly (and to its full potential), the right LMS can help you create ‘people strategies of the future’ and help your business to succeed thanks to a smoother, more integrated talent management process. Spending a fortune on hiring talent? Technology can help you identify suitable existing employees to potentially upskill and promote into those roles. You may need to invest some time to train them, but this is minimal in comparison to exorbitant recruitment costs (which, ironically, still don’t guarantee retention).
Systems integration and data can go a long way to helping HR and L&D get onto the same page strategically. Integrated HR and LMS is a prime example of how synced software can support HR and L&D teams, as well as employees. Integrated, easily accessible HR and learning software can help lower in-person training expenses, reduce staff turnover by improving the employee experience and providing learning opportunities, lower recruitment costs by boosting retention, and strengthen your success as an organisation.
3. Access meaningful data to shape and inspire learning and development strategies
If learning and HR strategies are both aligned with organisational objectives, it becomes much easier to meet organisational goals.
With L&D and HR departments working together and using the same data to inform their decisions, the business can move forward in a unified, more productive way. You’ll also be able to share information among employees more efficiently, and ensure your people buy into your organisation’s vision and goals. This all forms part of the employee experience – a vital part of any retention strategy, and one that’s becoming more challenging thanks to a geographically diverse workforce.
By working together to create a transparent culture – one that embraces and values learning – you can help to unite your workforce. Plus, you’re more likely to bring in talent who believes in your organisation’s mission (and, ultimately, helps you work towards achieving it).
4. Learning management software improves the employee experience
When people are heard, respected, and trusted to forge their own careers, they are happier; unhappy employees are often the result of poor management.
In a 2021 study, McKinsey found that the most commonly cited reasons for quitting a job were not feeling valued by their organisation (cited by 54% of employees), and not feeling valued by their manager (52%). Poor (or a lack of) management training affects managers, too; in fact, managers who haven’t received sufficient management training are 36% more likely to leave their jobs within the next year. If this is the case in your organisation, you can use skills analysis and competency frameworks to understand which management and leadership skills are lacking and address these gaps.
Seeing this action being taken – and feeling the positive impact of training – should help to improve employee trust in your organisation, not to mention enhance employee engagement.
Related: The essential LMS implementation plan: expectations, estimated timelines and
exceptions >
5. Build your employer brand by showcasing the professional development opportunities you offer
An enhanced employee experience, happier workers, and more opportunities to learn and grow will all naturally help to create a better employer brand. From better reviews on sites such as Glassdoor through to employee advocacy on LinkedIn and beyond, your employer brand reputation will improve when your employee sentiment improves.
Keeping your people happy isn’t just the right thing to do for them – it’s the right thing to do for your business. An organisation that develops a reputation for staff retention, career progression, and real investment in its employees will attract a higher volume of talented applicants. Not to mention, happy employees who feel valued will make great advocates for your company – and deliver an excellent level of service to your customers.
“Customers are more influenced today by employee attitude and behaviour,” says Jo Causon, CEO of The Institute of Customer Service. “If staff connect with an organisation’s purpose, they are more likely to communicate their understanding and passion with the customer.”
Fundamentally, the way you treat your employees is how they will treat your customers. One of the best ways to improve customer satisfaction is to improve employee satisfaction.
6. Technology helps teams create and maintain a competitive advantage
Happier employees who want the best for your business, an enhanced employer brand, and a more integrated approach to talent management all combine to give you a competitive edge.
As author and inspirational speaker Simon Sinek often says, you need to start with ‘why’. And if your people buy into your ‘why’, you will build a better, more successful business. A great way to get your people to invest in your organisation is to invest in them first.
Their wellbeing, opportunities, and career progression can all be improved through transparency, open communication, and a strategy that puts their goals at the forefront.
Savvy organisations understand the value of building a network of skills and talent, as well as the critical role technology plays in that. Is it really possible that technology holds the key to happier employees, happier customers, and your organisational success? There’s one way to find out.
Ready for learning management software to help you achieve more?
Request a demo of Ciphr LMS to see how our learning management software can help your organisation, your people teams, and your people themselves achieve more. There’s no need to increase your costs or headcount to increase your brand affinity and your bottom line.
Related reading:
- Is a blended e learning approach the ultimate workplace learning solution?
- How gamified learning platforms support your quest for continuous development
- Sharpening skills through a social learning platform
- The advantages of eLearning at work: employer’s edition
- What is the difference between an LMS vs LXP?
This article was first published on Digits.co.uk, a Ciphr Company.