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Do You Know How Valuable Corporate Training Is?

Corporate training is an expenditure that compares to others like recruitment and advertising; however, most companies just pay attention to the course’s cost and number of learners, and fail to measure its return on investment.

Basically, the majority of companies are not tracking how the cost of training transforms into results; but… why should they do this in the first place?

Because in this way, they can improve their training, concentrating on the courses that give results and getting rid of those that add zero value.

Effective corporate training, either through e-learning or on-site, has many benefits, such as:

Knowledge transfer: as knowledge is transferred from one area of the organization to another, more people benefit from it
Expertise gain: people acquire more and better skills
Higher retention: people tend to want to stay in a company that invests in their training
Higher morale: when people feel that the company is investing in their future, there is a boost in morale
More sales: all of the above translates into happier, more effective employees, which in turn increases sales

All of the above can be measured. When you evaluate corporate training results, you are able to see the value behind an effective training course and how it influences the bottom line.

Following are some ways in which companies can measure the effectiveness and value of corporate training:

A company can select a couple of points to assess the numbers for both, before and after the course.
A company can form two groups, a control group and a training group, and track them to measure their performance.
A company can supervise performance on strategic areas that concern a specific training.
A company can ask for comprehensive post-training information that documents the precise actions that were taken and the results of these.

For instance, let’s say a company held a sales course and afterwards it tracked the performance of those who took the course against others who didn’t.

There are two possible results:

1. The control group and the training group perform the same.
2. The training group outdoes the control group.

If the first option is true, then the training was not valuable.

If the second option is true, it means the training was very effective. In this case, the company can take the larger profits made by the training group, compare these to the cost of the training, determine the return on investment, and identify the value of corporate training.

Mark Doyle is a freelance writer who lives with his dog Smokey in the Pacific Northwest and learns best through e-learning.

 

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Do You Know LMS vs. LCMS?

These two terms are so similar that in many instances they are employed to talk about the same thing when in reality they are different systems.

LMS stands for ‘Learning Management System’ and LCMS stands for ‘Learning Content Management System’.

Both systems provide training for employees; but it is important that you understand the differences between both before making the decision to invest in one of them:

  • LMS

This is basically a system that manages learning, and it is normally web-based and referenced as e-learning. With a LMS you can plan, organize, and follow learning from a central platform, and from it you are able to supervise and send training to employees as it is required.

Let’s say an employee needs training on presentation skills and another one has to learn about workplace violence. Through LMS you can send a presentation skills course to the first one and a workplace violence course to the latter.

In both cases, as the employees move forward with the courses, you are able to see their improvement and test results. At the same time, employees can take the training from their desks and go as fast or slow as they need to.

A good LMS will offer a wide variety of courses, allowing you to train your staff on many subjects and according to each employee’s needs.

  • LCMS

This system is centered on supervising content instead of individuals. It focuses on creating content, which is provided by specific instructors and internal content developers.

In this case, you are able to take content that already exists, sections or targets, and mix and match them to create new courses, allowing you to reuse content that already existed instead of creating a completely new course.

So, which one works best for your company?

It all depends on what you need.

If your company has its own trainers or coaches, it could be very valuable to give them the chance to create and supervise content through LCMS.

If you don’t want or need to create and supervise content, but rather prefer to employ courses already created by a third party, you should go for the LMS option.

However, bear in mind that the LMS can’t reuse the content you already have and build another course; it can’t create courses. This is precisely what the LCMS can do. It can build, deliver and manage courses, but also manage all of its individual pieces. These chunks of information, also known as “learning objects”, may be reused and organized to form a different, new and improved course.

 

So, once again, the decision is yours. But now you have what you need to make an informed decision.

Byline:

Mark Doyle is a freelance writer who lives with his dog Smokey in the Pacific Northwest and learns best throughe-learning.

 

 

 

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