What comes to mind when you hear the term “LMS”? “Obsolete,” “old-fashioned,” or “outdated”? If so, you’re not alone. “Learning management systems are old school,” stated eLearning Industry.1 Let’s be honest, it’s time for an uphaul of these old outdated systems. The industry, the term itself is outdated.”
Data proves that this narrative is faulty. The LMS has been in higher demand than ever since the start of the pandemic. Fortune Business Insights2 stated,
“The global COVID-19 pandemic has been unprecedented and staggering, with the learning management system experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels…the global market experienced a growth of 11.3% in 2020 as compared to 2019.”
As you’ll read later, the LMS market is forecast to grow even faster in coming years. The learning management system is still the best option out there for corporate training, and there is plenty of data to support this.
5 Reasons Why You Should Use an LMS to Deliver Corporate Training
No matter what new corporate learning technologies are developed, learning management systems are in a class all their own. They have stood the test of time and are still delivering exceptional employee training experiences, even in the wake of a global pandemic.
Here are a few reasons why the LMS remains the best option for creating, delivering, tracking, and reporting on corporate training:
1) The LMS market is growing - A good indicator that a technology is worth investing in is the health of that technology’s market, and the LMS market is thriving.
“The LMS market is expected to grow up to 25.7 billion USD by 2025,” stated the article The Best Learning Management Systems.3 “It is more than obvious that eLearning has revolutionized and changed the way we look at knowledge and skill acquisition. Thereby, there is an increasing demand for Learning Management System solutions to systematically manage eLearning.”
The LMS market could be worth nearly $26 billion by 2025, but how fast is it growing? In 2021 it was valued at $14.43 billion, per Fortune Business Insights.4 The source explained that the LMS market is projected to grow from $16.19 billion in 2022 to $40.95 billion by 2029, “exhibiting a CAGR (compound annual growth rate) of 14.2% during the forecast period.”
Based on current LMS market statistics, it’s clear that the learning management system is here to stay. And that’s just one reason why it’s still the best choice for corporate training.
2) Various industries are supporting the growth of the LMS - There’s no doubt that the LMS market is growing quickly, but what industries are promoting its growth? Unified Infotech5 explained,
“Healthcare is going to be the next major industry supporting the growth in the LMS market post-COVID-19 period. Providing the right kind of training to the employees is easier with a healthcare LMS integrated within the system. With training, management can also track employees’ progress and assess their skills easily, leading to better healthcare service all around.”
Healthcare isn’t the only industry that is going to be relying on the LMS post-COVID. Unified Infotech also said the education, hospitality, IT, legal, manufacturing, insurance, financial, and public sectors would be supportive of LMS growth.
TOPYX LMS caters to a variety of industries, including:
- Associations
- Corporate
- Financial
- Healthcare
- Manufacturing
- Nonprofit
- Retail
- Sales/services
- Subject Matter Experts
- Technology
TOPYX LMS was designed specifically for these industries and provides tools for them to train employees, members, volunteers, stakeholders, and others. TOPYX meets the unique educational and training needs of a wide range of groups, from small business entities to multinational companies, making it the ideal remote L&D solution.
3) The LMS makes remote learning possible for dispersed workforces - The COVID-19 pandemic has made remote learning an absolute necessity for most organizations across all sectors.
“The impetus for working from home has shifted considerably since 2020,” explained an article by Pew Research Center.6 “Among those who have a workplace outside of their home, 61% now say they are choosing not to go into their workplace, while 38% say they’re working from home because their workplace is closed or unavailable to them.”
Employees that work from home also learn from home. One of the LMS’s biggest selling points is that it makes remote learning possible for dispersed workforces. Because the LMS promotes remote learning with features such as mobile learning, it is perfect for organizations needing practical solutions for remote L&D.
Companies that adopt and support mobile learning see higher engagement and success rates. With TOPYX LMS mobile learning functionality, learners can access content on demand, regardless of location or time zone. All a user needs for a superior learning management experience is an internet connection and a mobile device.
The benefits of TOPYX LMS mobile learning include:
- Greater accessibility for all users - TOPYX mobile learning gives users the flexibility to learn at their own pace and on their own schedule. This can boost learning engagement.
- Reasonable costs for organizations - There are no added hardware or connectivity charges with mobile learning as most employees already own smartphones or tablets. This means organizations pay less for training.
- Increased productivity - Mobile learning provides flexibility and freedom outside of office hours. As a result, employees are able to increase productivity in other areas of their work. This can have a positive effect on a company’s bottom line.
With TOPYX LMS, users can seamlessly access training and collaboration materials from either desktop or mobile device and collaborate with fellow teammates as they learn together or on their own. TOPYX features a responsive mobile design supported on every mobile device, and a better user experience.
Ready to launch a remote L&D program that is accessible via mobile device for all users? Request a free LMS demo of TOPYX.
4) Most companies use an LMS - About 83% of companies were using an LMS in 2019, according to a study cited by ATD.7 The primary reason organizations use an LMS is to provide remote training, or on-demand access to L&D resources.
“According to the report cited by ATD, 70% of respondents used their LMS for on-demand access to training content,” stated the blog article Is LMS Software Still Relevant? “Per ATD, microlearning delivery and learning paths were also popular LMS capabilities. Hundreds of thousands of companies are using an LMS for a reason - because it is effective at helping companies train their workforces.”
Companies not yet using an LMS are in the minority of organizations. By launching a learning management system, organizations across all sectors can set their employees up for training success and join the ranks of millions of other companies getting good results from an LMS.
5) The LMS allows administrators to easily track and report on user progress - LMS reporting is a key learning management system feature that is tough for other corporate learning technologies to fully recreate. LMS reporting is valuable because it enables administrators to determine whether or not the company is getting a good ROI for the LMS by revealing learner progress.
TOPYX LMS reporting sets your organization up for success by giving instructors, managers, and executives access to reports from the LMS quickly and efficiently. With TOPYX LMS reporting, administrators can easily navigate reports in their intuitive and customizable dashboard. The dashboard provides a comprehensive overview of key performance indicators. This is helpful for executives and management teams to track learner progress and make necessary changes to training courses and programs.
Reporting tools aren't just for administrators. They also give learners access to report cards, competencies, and transcripts, enabling them to keep up with their own progress.
Additionally, the LMS is used by the most successful companies. According to Finances Online, “40% of Fortune 500 companies use (an) LMS extensively to remain competitive.” If high-level organizations are using an LMS to remain competitive, that’s an indicator that a learning management system would likely give your company a competitive edge, as well.
Get Started with a Learning Management System by Requesting a Free LMS Demo
The LMS remains the best option for delivering and managing all aspects of corporate training in the post-COVID business world. TOPYX LMS can meet all of your company’s training needs with LMS features such as:
- LMS reporting
- Social learning
- Collaborative learning
- Mobile learning
- Certifications
- Blended learning
- Microlearning
Request a free LMS demo of TOPYX to discover all the ways a learning management system can benefit your organization.
References:
1) eLearning Industry. https://elearningindustry.com/new-software-for-corporate-learning-need-move-lms-look.
2, 4) Fortune Business Insights. https://www.fortunebusinessinsights.com/industry-reports/learning-management-system-market-101376.
3) eLearning Industry. https://elearningindustry.com/the-best-learning-management-systems-top-list.
5) Unified Infotech. https://www.unifiedinfotech.net/blog/industries-that-need-learning-management-systems/.
6) Pew Research Center. https://www.pewresearch.org/social-trends/2022/02/16/covid-19-pandemic-continues-to-reshape-work-in-america/.
7) ATD. https://www.td.org/insights/new-from-atd-research-is-the-lms-dead.
8) Finances Online. https://financesonline.com/25-essential-learning-management-system-e-learning-statistics-analysis-of-trends-data-and-market-share/.