5 Effective Ways to Use Your LMS to Boost Employee Retention
Retaining top talent is integral to the success and longevity of your business. Once the training period of your employees ends, the countdown begins. According to a recent statistical report, about 47.4 million people in the U.S. will leave their jobs in 2021.
Understandably, business leaders are actively looking for ways to improve employee retention. A learning management system can help you do just that.
Introduction: What Is Employee Retention?
Employee retention refers to the capacity of the company and its management to retain current staff and keep the best employees on board. It is usually expressed in a statistic and is an important parameter that affects the success of your business.
Your employees are likely to change companies as soon as they receive a better job offer that provides better pay or more opportunities for advancement. The current trend says that by 2023, more than 1 in 3 employees will leave their jobs voluntarily. Keeping your top performers on board directly impacts your company's performance.
Employee retention encompasses all your strategies and actions to keep your key talent and mitigate the risk of employee turnover. Developing a thoughtful and comprehensive approach can reduce the high costs associated with replacing your lost employees.
How Can an LMS Reduce Employee Turnover?
Employees are valuable assets for companies. You need to invest in their development to retain the best talent you need to achieve your organizational goals. You can strengthen your employee development efforts with the right learning management system.
When your hiring process works around the year, it may get challenging to offer the same quality of training to all the new recruits. With an LMS in place, you can quickly onboard your new employees, and efficently plan and assign their training program as soon as they join your company. This makes your new employees feel valued.
When you take care of their development, your employees are happier and increase their productivity. This helps reduce employee turnover. It all converges on how you utilize the LMS internally. An LMS offers your employees a continuous learning opportunity, enabling them to learn and grow in your ogranizaiton.
Using a learning management system, you can conduct and manage your training sessions more effectively. Your employees can access the sessions at their own convenience. When you prioritize your employees and their growth, they will engage better with your company. This would help you retain your most valuable asset, the human capital.
A fully hosted learning management system like Danfe can be the channel through which your employee development efforts rise. When you prioritize employee development in your organization, turnover rates will drop. In addition, the productivity of your employees will increase.
5 Ways to Use Your LMS to Boost Employee Retention
Irrespective of your organization's size, you can customize your learning management system to meet your organization's objectives. Here are some ways to use LMS to boost employee retention over the long term.
1. Develop a Learning Strategy That Is Engaging and Relevant
It would help if you implemented a customized learning strategy to implement an effective eLearning strategy and improve employee retention. You can do this by considering different learning styles in your program. For example, you can develop a learning strategy with audio and video. This way, you can create a more suitable program for people who prefer a self-paced learning experience.
You can create tailored learning paths for your employees. The LMS you use should be able to analyze user data and determine the most relevant content for your employees. This depends on their learning preferences, role, and skill level.
2. Connect Learning Programs with Organizational Goals
When you align your learning strategies and initiatives with your business goals, your employees can learn better, and your clients are more satisfied. If you develop a module that reduces errors in the workplace, you can save a lot of time and money.
Connecting your learning programs to your business goals can also increase customer satisfaction. Whether your company wants to attract new customers or retain existing ones, you must ensure that your employees are equipped with industry-specific skills. You can do this by aligning the learning modules in your LMS with your company's fundamental goals.
Your company may have multiple departments, services, and locations. Therefore, a single development program may not be appropriate for all your employees. Studies show that employees who have to take training that is not appropriate for their role are unlikely to engage with the content.
With an LMS, you can personalize training to each employee's role. Instead of forcing your employees to pursue the same modules, you can give them a choice of which lessons they want to complete and when. The more options you offer your employees, the more engaged they'll be with the content. Plus, they will feel like they have more control, encouraging them to participate in the training programs actively.
4. Social Learning Features Can Fuel Ongoing Content
Social learning is the knowledge your employees acquire through imitation, observation, and modeling. Learning management systems have developed into great social learning platforms where your employees can learn through online communities and discussion forums. This promotes ongoing content and helps them better engage with the module.
With the help of LMS, you can build a network of learners who can connect based on their shared interests. This way, they can learn with and from their peers. A mobile-friendly learning system also gives them the advantage of accessing information anywhere.
Social learning can also be achieved through discussion forums and web conferencing. This allows your employees from different locations or departments to come together and discuss topics that interest them. Informal discussions allow your employees to connect and relate to each other, which helps them work better as a team.
5. Follow-up Assessments Can Keep Training Fresh
Just because your employees passed an exam after completing the course does not mean they have acquired all the knowledge they could have. Most studies show that employees can ace the assessment if they pay attention. But over time, they forget what they have learned. A monthly review of the appraisals would help them stay in touch with their skills and improve employee retention.
If you use a learning management system for your business, you can create assessments for a variety of scenarios. You aren’t limited to a single test at the end of the course. This allows your employees to understand their learning skills and gain insights deeply.
You can start the training with a test to determine your employees' basic level of knowledge. This way, you can compare what they have learned in the training program. You can also set up follow-up assessments via email or text. These should be small tests that your employees can immediately engage with, so they don't forget the material.
Choosing an Appropriate Learning Management System
Companies that invest in an appropriate learning management system can significantly reduce employee turnover rates. It offers self-directed learning for your employees, allowing them to manage their pace and style of learning. The appropriate LMS is the most flexible and cost-effective way to train your employees.
We at Danfe have designed an LMS platform for small businesses, helping you elevate your employee training experience. Our true mobile learning experience maximizes the effectiveness of the training with a bite-sized learning module.
With our Learning Management System, you can create video training modules that can be easily delivered over mobile phones. This not only improves knowledge retention among your employees but also gives them the flexibility to access the training wherever they are. As an administrator, you can also keep track of your employees progress in real-time and get in-depth reports.
With Danfe, your employees could better engage with the company and its goals and have the proper training to develop their skills. All of this would help improve your employee retention rates.