One major issue that businesses want to avoid is a high employee turnover rate. Having a large amount of employees leaving on a consistent basis hurts the bottom line in a number of ways. Obviously, whenever someone departs a company, a significant portion of productivity departs with them. Other members of that employee’s team often have to pick up the slack for work left behind, and that higher workload and large amount of stress can cause the remaining employees more stress and gives more room for them to make mistakes. New hires are necessary to fill the gaps, but each new hire is an initial money-sink in terms of training costs. Companies in America lose billions of dollars a year to turnover. Like with most problems, to combat turnover, you must understand why turnover happens.
What Causes Employee Turnover?
Generally, when one thinks of the causes of turnover, two things come to mind: poor work environment, or leaving to work elsewhere. They are certainly the most intuitive reasons for leaving a company; you were unhappy at your job, or you got a better offer. Interestingly, these are only two of many different reasons an employee may leave. Oftentimes, employees are simply overwhelmed by their job responsibilities. They do not feel as if they have been adequately trained for their position, and have to deal with issues they are not prepared for, so they leave to find something more manageable. Another form of turnover is when a company simply lets an employee go, because they are not performing to their full capacity in their position. Both of these major sources of turnover can be addressed using a learning management system.
What is a Learning Management System?
An LMS, learning management system, is an online system designed to manage a set of educational lessons. The LMS should streamline various courses, organize each student’s assignments in a logical way, allow an apparatus to test the student easily, and aids the instructor in grading the assignments and tests. Though LMS’s used a great deal in higher education, they are by no means exclusive to colleges; in a business setting, a good LMS can organize all of a company’s training programs to make them more effective.
Why Does a Learning Management System Help?
An LMS can be an invaluable aid to both company and employee. With a good LMS, your company will be able to track which employees have complete which courses, and make sure any gaps in an employee’s education are addressed. Employees can use the LMS to more efficiently learn in their own way, and utilize those skills in the workplace effectively.
The bottom line is, using a proper LMS to teach your employees will not only make them better at their jobs, but more likely to stay. Employees will feel confident in their positions, and managers will have less of a cause to let people go. Through utilizing a LMS, you could end up saving your company money and, even better, protecting your company’s most valuable resource, the employees themselves.
