{"id":7852,"date":"2020-12-17T17:58:00","date_gmt":"2020-12-17T15:58:00","guid":{"rendered":"https:\/\/www.efrontlearning.com\/blog\/?p=7852"},"modified":"2021-01-05T11:51:46","modified_gmt":"2021-01-05T09:51:46","slug":"lms-business-case","status":"publish","type":"post","link":"https:\/\/www.efrontlearning.com\/blog\/2020\/12\/lms-business-case.html","title":{"rendered":"Building an LMS business case: How to convince your boss you need a corporate LMS"},"content":{"rendered":"
\u201cShow, don\u2019t tell.<\/em>\u201d<\/p>\n

That\u2019s one of the rules of effective storytelling \u2014 but it\u2019s also applicable when it comes to\u00a0making an LMS business case to present to your boss.<\/p>\n

Because yes, you know that a new LMS will be a valuable tool for your company<\/strong>. You know that continuous learning makes for engaged and better-performing employees. And you know that managing your eLearning content through a corporate LMS is convenient, scalable, and much less of a headache than any other alternative.<\/p>\n

But to convince your boss and other stakeholders, who are probably busy or skeptical, you need to do more than telling them what you know.<\/p>\n

You need to show them.<\/strong> Using concrete arguments that will cut to the point. And using terms they understand \u2014and care\u2014 about.<\/p>\n

If you’re not sure how to start building your LMS business case, this article will help.<\/p>\n

Support your LMS business case with the appropriate arguments<\/h2>\n

When building your LMS business case, it\u2019s important to use arguments that will \u201cspeak\u201d to your boss and stakeholders. Start with the more practical ones first (aka how an LMS saves money and time) and leave the more \u201cemotional\u201d ones for later in your presentation.<\/p>\n

Use this list below as your cliff notes to get the LMS buy-in you’re looking for.<\/p>\n

Argument #1: Buying an LMS will help cut costs<\/h3>\n

It\u2019s a truth universally acknowledged that the first question that springs to a CEO\u2019s mind when presented with a new technology to invest in, is \u201chow much<\/em>\u201d. How much will this new technology cost to acquire \u2014 and how much money can it potentially help them save. Thankfully, the numbers are on your side.<\/p>\n

Buying an LMS helps cut both training and admin costs.<\/strong><\/p>\n

Your LMS\u00a0purchase will require a monthly or annual fee and, in some cases, an upfront, one-off implementation cost \u2014 but it will be the gift that keeps on giving. In contrast to in-person training, eLearning delivered through your new LMS will be recorded and able to be repurposed as needed.<\/p>\n

This will save\u00a0your\u00a0company money in the long run, when there will be a new batch of employees to train. It will also help employees to revisit training materials as needed, ensuring they\u00a0absorb knowledge and perform better.<\/p>\n

Another way a corporate LMS will help cut costs is via its many different features and integrations. For example, by helping track performance (we’ll elaborate on that later) and enforcing compliance-related initiatives, an LMS can save a company thousands of dollars on compliance fines. And by integrating your LMS with a videoconferencing tool like Zoom<\/a>, you can facilitate company-wide communication and avoid costly misunderstandings.<\/p>\n

Tip:<\/strong> To ensure getting an LMS buy-in, it\u2019s important to do the math and be specific<\/strong>. Find out how much the LMS costs and (if you have access to that data) calculate how much money the company is spending now on training and onboarding. Make these numbers a prominent part of your presentation.<\/p>\n

\"LMS<\/p>\n

Argument #2: With a new LMS, you\u00a0nail onboarding \u2014 even remotely<\/h3>\n

To stand out from competitors, attract and retain top talent\u00a0you need to build the proper foundation from the start \u2014 and keep\u00a0employees\u00a0engaged in the long run.<\/p>\n

But attracting and retaining top talent costs money. According to the Work Institute, employee retention and engagement consulting firm, each employee departure costs about one-third of that employee’s annual earnings<\/a>. And with as much as one-third of new hires leave their position within the first six months, getting onboarding right becomes more important than ever.<\/p>\n

Onboarding is more than just letting new hires know about their responsibilities.<\/strong> It\u2019s your opportunity to make them aware of the company culture, mission, and values from the get-go. It\u2019s also a great opportunity for new hires to meet and socialize with their peers and managers.<\/p>\n

How to manage all that when everyone is working remotely? Through your new LMS.<\/p>\n

An LMS saves money and time by automating the new hire onboarding process. Especially if you opt for a corporate LMS that can be integrated with other tools<\/a>, like an email marketing platform. That way, you can easily set up a welcome campaign to help orientate new hires and point them to some early reading material.<\/p>\n

There\u2019s also the option, through your new LMS, to assign a buddy\/mentor to every new hire. This will help new employees have a smoother digital introduction<\/a> to the team and not feel overwhelmed or isolated.<\/p>\n

Argument #3: An LMS makes\u00a0training data collection a breeze<\/h3>\n

Remote working and training have brought up an increased need for capturing data about productivity and engagement but also mental health and wellness. And the trend is not likely to go away. A Gartner report on trends for the future of the workplace after COVID-19 sees an increase in data collection overall<\/a>.<\/p>\n

Your new LMS can help your company keep up with that trend.<\/p>\n

From generating data on training and engagement to providing frequent updates to your boss and upper management, LMS reporting is a time-saving tool. You don\u2019t have to think about collecting data \u2014\u00a0it’s done automatically.<\/p>\n

And by investing in a corporate LMS like eFront, you can schedule and automatically send reports<\/a> at a certain frequency to a list of recipients. This will make giving periodic status updates that much simpler.<\/p>\n

Argument #4: It will strengthen company culture amidst the pandemic<\/h3>\n

According to a recent SHRM research, 2 in 3 employers say maintaining employee morale has been a challenge<\/a>. This is particularly the case for companies with a large number of employees.<\/p>\n

It\u2019s not hard to see why. For so many employees out there, the pandemic has compounded their already elevated stress levels. They have to deal with issues at home and with uncertainty at work.<\/p>\n

Strengthening company culture, and, consequently, employee morale, should be one of your boss\u2019s priorities. But how does an LMS tie into that, your boss might ask?<\/p>\n

Ben DeSpain, Chief People Officer of Velocity, notes in a Forbes article that using an LMS for training\u00a0is key in achieving that morale boost, especially for connecting with\u00a0new hires who are not familiar with the company culture yet<\/a>. It\u2019s true that through eLearning, especially through gamified eLearning, employees can socialize and bond<\/strong>. Collecting points and badges and being featured on leaderboards can do wonders for promoting playful competition.<\/p>\n

Plus, with your LMS\u2019s communication tools, employees can interact with each other, e.g., via internal emails, discussion forums, and comments. That way, employees can counteract any sentiments of isolation caused by remote working and feel once again engaged and included in your company culture.<\/p>\n

And they can learn better, by learning together.<\/strong><\/p>\n

Argument #5: Building trust among employees leads to growth<\/h3>\n

So you\u2019ve already established that a corporate LMS can boost morale and give company culture a helping hand\u2026 but why should your boss care?<\/p>\n

The answer is simple: because there\u2019s a direct path between employee engagement and company growth. An engaged employee is an employee who trusts that the company they work for wants them to succeed and grow as individuals. And according to a Gallup and TrueSpace study, companies with high levels of trust among their employees are 2.7 times more likely to hit their growth goals<\/a>.<\/p>\n

Investing in eLearning<\/a>, which is what\u00a0your LMS business case\u00a0is about, essentially helps your boss create a reliable, engaged workforce that will contribute to growth. A workforce that keeps acquiring and polishing critical skills that can help them navigate change and function in many different roles within the company.<\/p>\n

This is important now \u2014 but it will be even more important post-pandemic.<\/p>\n

How to wrap it all up<\/h2>\n

Presenting your LMS business case to your boss and stakeholders can feel like a lot. But the more well prepared you are, the more chances you have to make them see things your way. To that end, including some slides with numbers and infographics can go a long way.<\/p>\n

As will scheduling a demo, so that your boss can see first-hand your platform of choice.<\/p>\n

Booking a demo with eFront<\/a> is easy and free \u2014 and it will make all the difference between \u201ctelling\u201d and \u201cshowing\u201d.<\/div>\n","protected":false},"excerpt":{"rendered":"

\u201cShow, don\u2019t tell.\u201d That\u2019s one of the rules of effective storytelling \u2014 but it\u2019s also applicable when it comes to\u00a0making an LMS business case to present to your boss. Because yes, you know that a new LMS will be a valuable tool for your company. You know that continuous learning makes for engaged and better-performing […]<\/p>\n","protected":false},"author":33899,"featured_media":7858,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41],"tags":[44],"class_list":["post-7852","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-practices","tag-lms"],"yoast_head":"\nBuilding an LMS Business Case: How to Get Buy-in for a Corporate LMS<\/title>\n<meta name=\"description\" content=\"Building an LMS business case means that you have to convince senior management that an LMS will save your company money and time. 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