A well planned and executed Learning & Development function can increase a company’s profitability and employee productivity. However, an organization’s training process is no longer limited to identifying learning needs and developing the right training modules and administering the same.
It encompasses many other steps that ensure that the end-to-end training process generates a positive ROI and is far more effective towards achieving the overall goals of the organization along with the goals of the HR department.
While these new steps like evaluating training needs, effectively communicating about the training, planning and administering it, and collecting feedback can certainly be done by the L&D team. But it would mean a sizable investment in the team size. It makes far greater sense in investing in a Training Management Software.
You may wonder if Training Management Software is any different than Learning Management Software. The answer is an emphatic yes. A simple explanation is that Learning Management Systems are learner-centric while a Training Management Software faces the L&D team. While this is generally the case, many times some training management systems also include an LMS, which means that you gain the benefits of an LMS with your TMS.
Training Management Software can not only aid in smoother training but literally transform the L&D function of your company. Here are a few ways how.
- TMS can provide substantial savings
A Training Management Software has many services baked right into it like a Learning Management System (LMS), Customer Relationship Management (CRM), Reporting Systems, Financial systems, Sales and Marketing Systems. So basically, organizations pay for only one system rather than investing in many smaller systems. This also means a much smaller team can manage all these functions giving you savings on the cost of hiring staff and on-boarding. Finally, there is a saving on IT resources too as duplication of data is avoided as all information rests in one central repository.
- TMS can help save administrative time
Besides performing the basic tasks associated with a TMS like administrating, monitoring and tracking eLearning and training sessions a good software also streamlines communications, manages surveys including analyzing results and generating progress reports for learners, employee records and sales. All these tasks can be carried out by a relatively smaller team which means a faster turnaround time for generating reports and ultimately quicker decision making.
- TMS works as an effective back-office tool
A TMS is capable of bringing high efficiency to your back office processes. It can help efficiently plan logistics and resources for courses and save them for future references. It is a potent scheduling tool for administrators who can schedule courses considering learner availability.
It can handle end-to-end Instructor-Led Training administration including learner registrations, confirmation emails, reminder emails etc. It can easily monitor all financial transactions pertaining to training including tracking costs and profitability, forecasting budgets etc. Lastly, it also creates reports and business intelligence to help the organization customize their offerings.
- TMS as an employee empowerment tool
A well-chosen TMS can manage and evaluate the progress made by employees and keep a track of their certifications. It can work as an effective feedback loop for the senior management by providing them regular updates and notifications on employees who have yet to complete their courses. Lastly, it can be a very effective recruitment tool for the HR function by helping identify the right candidates for job openings based on their skill set levels and training is undertaken.
- TMS increases L&D team’s productivity through automation
Training management systems can automate a lot of repetitive tasks thus freeing up your precious human resource for learning and enrichment. The best example would be the automation of the Reporting function. A report once compiled will be automatically generated at predefined intervals, thus freeing up the time to generate the same report periodically. Also, the Training Management Software can also be set up to automatically send these reports to the responsible Managers.
Another very important function that can be fully automated through a TMS is feedback collection. Surveys can be created and stored in the system which can be automatically sent to students upon completion of the course. The responses are automatically pulled back into the TMS which processes it and generates reports.
As you can see, a good Training Management Software is packed with many other functionalities besides the core process of providing training and collecting feedback. These features can transform the entire training process of your organization to a more efficient and refined operation.