There are several challenges when it comes to employee retention and morale. Salary and benefits are just one piece of the puzzle, as is workplace culture. How do you foster a continuous learning culture, one that values ongoing growth and investment in your employees?
A learning management system, or LMS, is the “secret sauce” small businesses need to get a leg up on larger organizations that compete for talent with salaries and benefits. Here’s what Indiana small businesses need to know about setting up a small business LMS and how they can attract and retain quality talent.
The Challenges of Creating a Continuous Learning Culture
Building a learning culture often takes a backseat because of financial reasons. Larger organizations going through lean times and smaller organizations with less wiggle room in the budget often have insufficient resources for training tools, quality learning materials, and reputable instructors. Unless the organization has employees who are mandated to partake in continuing education, such as accountants and lawyers, continuous learning tends to be disregarded since it is not a revenue driver.
However, it’s not just cost alone that causes decision-makers to forego crucial investments in their employees’ learning and development. Employee development programs are forgone because of business goals and important projects. Agile teams that are spread too thin simply don’t have the time to increase their skills and learn about important shifts in their industry, tools of the trade, and regulatory changes.
Even larger organizations with more resources can be stuck in their ways. How often have you heard, “This is how we’ve always done it?” A fixed mindset that learning is done in college is detrimental and leaves organizations behind as competitors get ahead. The expectation that new hires arrive with every single skill and software package on the hiring manager’s wishlist causes quality talent to be turned away, and the morale of current employees takes a hit when it becomes evident the organization will not invest in them.
In the end, this hurts the organization because it is now at a serious competitive disadvantage.
How Small Business LMS Can Help
A learning management system (LMS) can provide valuable and scalable upskilling to employees no matter the organization’s size. A LMS can operate independently with proprietary online courses and third-party platforms (such as Udemy and LinkedIn Learning) or supplement more hands-on options like live training workshops and mentorship programs.
LMSes are structured environments that give employees access to training tools, certifications, modules, and other quantifiable proof of learning new skills. Not only are LMSes scalable and adaptable to different organizations’ needs based on size, industry, and other factors, but they empower employees to take control of when they do their training.
With self-study options, employees can track their progress and work at their own pace, or they can utilize collaborative learning tools and programs with their teams. With a wide array of educational options, you can require certain courses while enabling employees to choose anything else they’d like to learn on their own time or during slower periods of the business cycle.
Employees who feel empowered to make their own decisions are happier, more productive, and more likely to stay with the organization. Large organizations may have the resources for frequent live events, but they also supplement their educational benefits with LMSes. Small businesses can stay competitive and enjoy similar retention rates by utilizing a LMS that gives employees plenty of options for required and elective learning.
Boost Employee Retention and Morale with a Small Business LMS
By fostering a culture of continuous learning, it encourages collaboration and innovation. ASAP Payroll offers Indiana small businesses LMS solutions that are tailored to your industry and scalable for your growth plans. Our experts can put your organization on the path toward a learning-centric workplace culture that encourages staying up-to-date and avoiding stagnation.
Contact ASAP Payroll to find out how our LMS solutions can support your business’s continuous learning culture.
