In this economy, when you find the right talent, you have to develop them and keep them.
“Train people well enough so they can leave, treat them well enough so they don’t want to.” – Sir Richard Branson
The 2019 CEO Benchmarking Report shined light on the CEO’s needs today. With low unemployment, the ability to find the right talent is harder than ever. What does this mean? You must develop and align those you have working for you. In the end, it will be much cheaper, and you’ll find these employees stay with you much longer. This will enable you to drive revenue and gain marketshare.
Today, we see more learning management systems in the industry than there were clients in the beginning. In that, there is a lot of confusion around the real purpose of the LMS. For most companies, the LMS is the primary mechanism that connects content to people based on their role and need. Yes, we create a lot of tools around that like badging, etc., but in the end, the real purpose is the manage the engagement of content by a person.
Approximately 40 percent of employees who quit do so within 12 months of being hired, according to a study based on data from over 34,000 exit interviews analyzed by Work Institute. About half of workers who departed in their first year left quickly—within the first 90 days. Why? Lack of development and lack of perceived opportunity.
Since 1994, I have been creating or implementing learning management systems. In all, I have worked with 300+ companies to setup learning management systems or create corporate universities. My teams have worked with over 500 companies to create more than 5,000 e-learning courses.
I want to encourage you and management to create a message of ‘ownership’ for new hires. By effectively using learning management systems to show the desired training plan for their current role, as well as, the path for their potential next role, can encourage ownership. In the first year, 90 day reviews are necessary. In the following years, reviews every six months is essential. For companies that drive engagement, the LMS can play a pivotal role of managing the process and content. Yes, there are a lot of tools like badging and points, but in the end, the person wants an opportunity to learn and move up.
Spend money on training that develops employees not expensive technology.
Good training content helps create the behaviors you desire.
Organizations need to remember that an LMS cannot change or create the desired behavior. It merely manages the process. However, I see so many companies spend equal or more on the technology than content. I believe that licensing content for safety and compliance makes sense, but they need to spend money on content that elevates their culture and ultimately, their bottom-line. In today’s market, focusing on developing team members will reduce the high exits we see. They need to focus on content that makes them unique in the marketplace.
For organizations that simply want to launch, track and transact learning, the open source route is the best way to go. Yes, my companies have made millions off licensing learning systems, but the organizations that need robust systems like Schoox are unique and have complex environments.
The top open source learning systems I see in the market today are plugins to WordPress. What makes this great is that a good website/Wordpress person and a good trainer can create a corporate university for internal training or educating customers/members (example non-profit, association or expert). If you can’t find an LMS that aligns to your process, don’t buy it. The SaaS LMS companies don’t want to reconfigure for just you. Go open source and customize to your process.
Here are my top 3 open source learning systems for enabling your team to create content to retain top employees and train your customers (unlimited courses and unlimited users).
- LifterLMS– Great for multiple instructors, multi-tier courses, quizzes, course management, and certificates. There is a fee, but when you see the tools and plugins you get, it is worth it. I like the $299 Universe Bundle with com and multiple sites for microlearning opportunities.
- LearnDash– While the most popular, I find the inter-workings to be a little more complicated to LifterLMS. If you need multiple sites and desire to award certificates, drip lessons, create quizzes and award points for learning, LearnDash is a good choice. There is a fee, but the tools make it worthwhile. I like the $159 Basic Package.
- LearnPress– Like the first two, a small fee enables you to get some good add-ons, but you’ll spend more time configuring. It’s a great tool to build out a custom LMS for a company, but you’ll need a little more technical ability.
To learn more about setting up your corporate university or expert university, contact Rootloud at 803.466.3220 or [email protected] We have WordPress experts, instructional designer, creative artists and content developers to serve your needs.
Our typical client spends $5,000 for LMS setup and configuration. Our typical client desiring to use our safety and human resource compliance library plus six custom courses spends $20,000 in year one with about $3,000 recurring for updates and maintenance.
In summary, the results of the CEO Benchmark and the Work Institute survey reveal the need of senior management to encourage their managers to engage and develop their people. Challenge the employees to own their future, but equip human resources and training with the tools to do it effectively.
About the author -Mitch Smith founded Pinneast in 1994 at the age of 27. Pinneast implemented the original learning systems that included Docent, Saba and Pinnacle. They also were one of the leading e-learning content creators. Selling the company in 1998, Mitch launched AcadiaHCS in 1999. The LMS included online performance appraisals and online applicant tracking, serving over 300 enterprise organizations. He recently created an online assessment platform that now manages assessments for millions of students nationwide. Today, twenty-five years from the launch of Pinneast, he continues to work with companies to create cost-effective tools to transform, validate and transact knowledge transfer. To learn more, go to Rootloud.com.
- How do Top Performing Companies utilize the 4th Quarter? - September 11, 2020
- Strategy 101 for 2021 - September 10, 2020
- “When designing products, start with the customer experience.” – Steve Jobs (video) - September 10, 2020