While any compliance training is essential for the success of your company, especially when penetrating markets abroad, it is also quite hard on the employees.
It usually requires employees to sit down for a couple of hours at a time, go through big chunks of text, and ingest all the important data.
And with compliance training, all data is important. That is why more and more organizations are beginning to use cloud-based LMS software for employee training.
This has resulted in the rapid growth of the LMS industry.
Modern cloud-based LMS software solutions are designed with the end user in mind. Their primary role is to help employees improve knowledge retention during compliance training.
To help you understand how an LMS can transform and improve your company’s employee compliance training, we have compiled a list of four reasons why every company needs it.
1. It is Built According to Modern Workforce’s Needs
Millennials make up a great portion of today’s workforce across all industries.
Unlike baby boomers, millennials are tech-savvy, prefer more effortless solutions, and enjoy having answers right at their fingertips.
Imparting compliance training and making it more effective for the newer generations is, therefore, key. Employees have to be kept up-to-date with the latest rules and regulations. Otherwise, your organization may face many risks, including expensive lawsuits.
This means that L&D departments have to slowly start walking away from traditional training methods. Organizing training courses in classrooms is no longer going to cut it.
Nowadays, almost every employee has access to a smartphone and tablet, and they prefer using them when searching for answers.
The needs have changed, as today’s problems and the gaps in knowledge demand instant solutions. This is a requirement that only training deployed via cloud-based LMS software can deliver.
Thanks to this software, you can now make compliance training accessible on the go. Your employees no longer need to leave their workstations or visit classrooms.
They can attend the course whenever and wherever they like, as long as they have an Internet connection.
On top of that, they can go through the course material at their own pace, completely engaged by the interactivity LMS platforms provides, including engaging videos.
While this ensures better knowledge acquisition and retention on one end, it minimizes the risks of compliance breaches on the other.
2. Cuts Down Expenses and Saves Time
Expenses and time are two very important aspects of all employee training, including compliance training. If we are going to talk about expenses, we have to address everything it implies.
If you want to launch a compliance training course based on traditional training methods, you would have to make sure your company can afford:
- Learning material
- Travel expenses for employees
- Learning tools (video beam, whiteboard, markers, and so on)
Time is also a relevant factor here. You will have to plan the compliance training in advance.
You also have to plan what to do with employees who are unable to attend (vacation, sick leave, maternity leave, and so on).
Not to mention that all your projects will be on halt until the employees are done with the training.
Cloud-based LMS tools address both of these pain points. When it comes to compliance training expenses, nothing cuts them down quite as effectively as this tool.
You won’t need to pay for anything on that list above. Your employees will be able to access courses on their devices, during their break, while they are commuting or at home.
You can also say goodbye to all that time management involved in traditional compliance training.
Everything is automated and even the employees who are a vital part of your workforce but on vacation or sick leave will be able to attend the compliance training.
3. Cloud-Based LMS Software is Data-Driven
When it comes to compliance training, measuring its success is very important.
The purpose of this training is to minimize, if not completely eliminate, the risks of a compliance breach and expensive lawsuits that usually follow it.
Good post-training test results indicate that everyone is on board with the new rules and regulations.
Unfortunately, L&D departments often make mistakes and oversights, and these can turn into expensive issues in the future.
With cloud-based LMS solutions, you can rest assured that these types of mistakes won’t occur. Why? Because the system is data-driven and programmed to automatically score and generate valuable reports.
On top of that, you will be able to see, in real-time, who has taken the course, how many assignments each worker has yet to complete, and other valuable stats.
LMS tools generate detailed reports not only on the performance of each individual but also on the performance of specific learning material.
This provides insights to L&D departments, as they can learn which learning material resonates better with their employees and use this information to deliver even more efficient compliance training.
4. Easy Learning Content Management
Finally, we come to the ease of use of cloud-based LMS tools.
Creating courses has never been easier, as you can copy and paste existing materials, add images, and even record instructional videos and add them to a course.
Not all employees have to read through all the rules and regulations. You can break the courses down to a need-to-know basis and assign them to specific departments, managers, sales reps, managers, etc.
Rules and regulations often change. Thanks to this tool, you will be able to update outdated information and use the built-in notification system to inform everyone about it.
Cloud-based LMS solutions can help you turn compliance training into an engaging and convenient activity while saving both time and money.
Thanks to the powerful reports and easy learning content management, you can now easily minimize the risks of a compliance breach while at the same time cater to the needs of the modern workforce.
Author Bio: Kamy Anderson is an ed-tech enthusiast with a passion for writing on emerging technologies in the areas of corporate training and education. He is an expert in learning management system & eLearning authoring tools – currently associated with ProProfs Training Maker.