In case you haven't noticed, Brexit is really happening. And that means a lot of things for a lot of businesses. At the very least, it means some uncertainty.
Uncertainty about your international trade and taxes. Uncertainty about your available pool of talent. But especially, there's uncertainty about making the right investments for the future.
You need to know that the investments your business makes now are going to secure a return. You need to know how they'll help you to cut costs, save time, and improve your productivity.
So, let's talk about an investment that's an easy choice to make: moving towards e-learning with a modern Learning Management System.
Here are some of the biggest features of an advanced LMS that can drive the ROI of your company's training programmes:
Freeing up your staff with automated processes
With so much uncertainty surrounding a post-Brexit future, it's always good to be able to work with concrete facts. So here's a solid statistic that you can rely on:
Compared to traditional learning methods, e-learning takes up 40-60% less of your employees' time.
And a big part of that saving comes through the advanced automation features of a modern Learning Management System (LMS).
With traditional methods, training your staff can take up huge amounts of time. And if you're running a larger business, the problem only gets worse.
You need to onboard new hires, get the right certifications to the right people, and keep everyone up to date with an ever-changing sea of legislation and compliance requirements.
(And in a worst-case Brexit scenario, you can be sure there are going to be plenty of changes to compliance!)
Your L&D teams have to spend time assigning courses and learning paths, checking up on their learners' progress, and switching and tweaking their training programmes to fit with new legislation.
But with a modern LMS that automates most of these everyday tasks, your teams can save massive amounts of time – and that means your company can save massive amounts of money.
Creating structured learning paths with automated rule-based allocation, due dates, and reminders
Automatically tracking compliance across your whole company with recurring certifications and automated, renewable training
Getting automated reminders and notifications for your L&D team – so they can keep on top of your learners' progress without manual checks.
And the result? A small team of L&D professionals can handle the training and development of thousands of employees – which means your company can slash huge chunks of unnecessary costs away from its training budget.
Cutting admin costs with fast reporting
We all know that paperwork can be a massive time-sink. But what most people don't know is that there are systems out there that can completely eliminate the time spent on things like reports.
Just like every other modern bit of technology, a good LMS can take dozens of hours of human effort spent on laborious admin tasks, and produce the same results (with fewer errors) in moments.
So how much time does a company really waste on admin?
Let's look at a few examples from Totara Learn:
One company saved 1,000 learning administration hours in one year with a new e-learning system.
Another saved €500,000 on internal administration and financial handling in just a single year.
And here at Hubken Group, we've got our own horror stories to share:
We once worked with a business that was spending 14 days on admin every month to run reports. That's almost 3 weeks of a single full-time worker's monthly schedule – just to keep up with the reports on their training.
And when they made the move over to an advanced LMS like Totara Learn? Those same reports became instant. And you can imagine how much money (and hassle!) that company saved.
Adding new revenue streams with eCommerce courses
We've talked a lot about how an LMS can help businesses to save time and money. But it can also open up new opportunities for you to start making new money as well.
(And with the uncertainty of Brexit ahead, it doesn't hurt to have additional streams of revenue.)
When you're investing in traditional training methods – like classrooms and face-to-face training – the money you pour into these singular events is gone forever. But when you invest in the creation of online learning courses, that content can be resold.
With a plug-in like our own PayForCourses eCommerce module (which works with both Moodle and Totara Learn), you'll have an online shop where your visitors can choose from the learning courses you've created, and buy the ones they need for their own organisations.
And the best bit? It's a fully integrated plug-in with automatic enrolment and its own built-in shopping cart. So once you've done the hard part (creating the content), you can sit back and watch a whole new passive income stream come rolling in.
You can use the PayForCourses plug-in as a way to recoup the costs of the training courses you've been creating. And if your courses prove popular, you could sell enough to make your training investments free – or even turn a profit!
Ready to talk shop?
We've been helping businesses of all sizes get into the world of e-learning for over fifteen years – and that means we know exactly how to make sure you're getting the biggest return on your company's investment in training.
So if you're looking for a cost-effective way to get your business ready, get in touch today – we'll show you just how much a Learning Management System can help.