Corporate LMS can bring diverse benefits to a business due to improving employee knowledge, skills, and policy awareness and educating partners and customers on products or services via personalized and interactive training: Most organizations already use LMS for corporate training, and the global corporate eLearning market is expected to reach $50 billion by 2026.
A robust corporate LMS is usually characterized by multi-tenancy, mobile access, and custom branding and offers such functionality as learning content creation, personalized learning paths, learning performance tracking, certification management, and more. For max effectiveness, corporate LMS software should integrate with CRM, HRMS, BI, eCommerce, collaboration software, and more. LMS implementation costs range from $90,000 to $300,000+ depending on the project scope. But you can get the platform for free by using Moodle as an open-source Learning Management System.
Key Features of Learning Management System
Today’s corporate Learning Management System has variously featured and depending upon the system that you use the features may vary, I have listed a few based on features commonly available in many systems today.
- Multi-type (text, images, video, audio, animation, AR/VR/MR) and multi-format (Word, PowerPoint, PDF, HTML, etc.) content.
- Content authoring tools.
- Content embedding from external sources (e.g., YouTube, Vimeo, Wistia).
- Automated indexing and metadata creation.
- Advanced search of learning content based on titles, metadata, and parts of text.
- Enterprise search with filtering and ranking search results.
- Support of eLearning technical standards (SCORM, AICC, xAPI).
- AI-based recommendations to learning administrators and instructors on best ways to present and curate learning content.
- Creating personalized learning paths for learners (for the L&D team).
- Assigning training to employees (for managers and the L&D team).
- Self-enrollment of employees, customers and partners in training.
- Automated AI-based recommendations of learning content to employees based on their learning history and current job roles.
- Tracking employee training activities by managers and the L&D team on group and individual level.
- Scheduling of learning events (e.g., training sessions, certification) by the L&D team.
- Alerts and notifications to learners (e.g., course completion, upcoming deadlines).
- Chatbots to guide users through learning process (e.g., suggesting a course to take next).
Assessment and Reports
- Learning performance assessment via quizzes and tests.
- Customizable reports for employees and the L&D team (course status, learners’ progress, time spent on learning, etc.).
- Dashboards for managers and the L&D team (LMS usage, learners’ performance and satisfaction).
- AI-based analysis to predict potential learning issues (e.g., low learners’ performance and engagement).
- Automated reminders about the expiry of learners’ certifications to the L&D team and learners.
- Tests to achieve certification of course completion.
- Automated creation and delivery of electronic certificates to learners after they pass a test.
- A searchable database of learners’ competencies and skills for the learning administration staff, HR teams, etc.
- Tracking learners’ competency gaps for the learning administration staff, HR teams, and managers.
- Skill gap analysis based on employee surveys to define strengths and improvement opportunties.
- Learners’ personal pages containing all learning-related information: skills, certificates, completed courses, scores, etc.
- Social communication tools for learners (discussion boards, chats, forums).
- Blogs and wikis.
- Learning content ranking and commenting for learners.
- Polls and surveys to collect learners’ feedback on the learning process and measure their satisfaction.
- achievement points.
- Badges and rewards for completing training objectives, completing a course or passing a test.
- Mini-games simulating real-life scenarios.
- Interactive videos, etc.
Security and Compliance
- Data encryption.
- Multi-factor authentication.
- Access control.
- Audit trail.
- eLearning data backups.
- Compliance with government and industry-specific regulations (e.g., GDPR, SOX, GLBA, HIPAA).
- Auditable reports on learners’ compliance with relevant internal policies and procedures (e.g., IT security, workplace health and safety).