Take L&D To The Next Level - Your Guide To Bridging Gaps And Boosting Profits With Employee Training Software
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Take L&D To The Next Level: Your Guide To Bridging Gaps And Boosting Profits With Employee Training Software

You can’t expect your employees to work at peak performance and improve the health of your bottom line without providing ongoing support. Many organizations understand the importance of employee development but think that online training software is out of their price range. Especially SMBs that are already trying to stretch their limited resources. However, a realistic budget can help you give your employees the training tools they need without draining your business account. In this article, I share tips to set an employee training software budget you can stick to. Then reveal some of the insider tips, tricks, and techniques you’ll find in our eBook, Take L&D To The Next Level: Your Guide To Bridging Gaps And Boosting Profits With Employee Training Software. Which includes everything you need to know to choose the best LMS for your organization and improve on-the-job productivity.

eBook Release: Take L&D To The Next Level: Your Guide To Bridging Gaps And Boosting Profits With Employee Training Software
eBook Release
Take L&D To The Next Level: Your Guide To Bridging Gaps And Boosting Profits With Employee Training Software
Learn how to take your L&D to the next level with employee training software.

Top Tips To Set A Realistic Budget

1. Identify Existing Assets

A budget begins with an inventory of what you already have to avoid redundancies and maximize resource allocation. It also allows you to determine which features and functions you need to improve ROI based on your current system. For example, find a replacement that offers what it lacks and enables you to improve employee engagement. It’s also wise to take stock of your online training assets and your team’s talents to find a system that aligns with your needs. As well as reduce the risk of buyer’s regret because you chose employee training software that involves a costly learning curve.

2. Settle On The Ideal Deployment Type And Pricing Method

The two most common employee training LMS deployment methods are SaaS/cloud-based and locally installed. But there’s also the pricing options to consider. While some vendors charge by-user, others require up-front costs for an unlimited number of employees. Determine which solution is right for your organization and what you work into your budget. For example, you may not have the resources to pay for an outright licensing fee. Thus, you need to pay-as-you-go via a monthly subscription.

3. Estimate User Count And Plan For Future Growth

If you do opt for a per-user pricing model, you must estimate the number of users who need to access the system. This will play a major role in your employee training software budget since it’s on top of the base/set-up fee. Some vendors only count the active users, while others include all users who have an account. Even if they don’t use it every month. So, ask your employee training system vendor about their pricing methodologies beforehand.

4. Take A Test Drive To Adjust Your Must-Have Features List

A trial or demo gives you the opportunity to see how the platform performs and if it’s worth the investment. But it also allows you to whittle down, or expand, your features list to get the best value for money. For example, the test drive might reveal that your team doesn’t necessarily need a function or feature. Such as advanced support services that are a significant expense and are not included in the basic pricing package.

5. Consider Hidden Expenses

Another budgeting category that organizations often forget about is hidden fees. This includes ongoing maintenance, content creation, payroll, and other crucial costs. All of these things add up and put yours over budget. There’s a relatively simple solution to this conundrum. Which is to create an LMS implementation timeline and map out every task involved. For instance, step one involves vetting software vendors and taking test drives. Which requires payroll hours. A future step might be to set up the system and customize it to accommodate your branding. Which requires another set of tasks and team members. Further down the line, you may have to pay for product upgrades or updates.

Your All-In-One Guide To Implementing Employee Training Software

Download our eBook to go beyond the budget and discover tips for choosing the best employee training software. It covers everything from essential features to common obstacles SMBs face when implementing a new LMS. And much more…

  • Insider secrets to select the best employee training software and overlooked benefits it can bring to your organization.
  • Common challenges for choosing and implementing an employee training LMS and tips to overcome them.
  • How to use employee training software to improve workplace productivity and broaden profit margins.
  • Advantages that an employee training LMS can bring to SMBs that are working with limited resources.
  • How to bridge performance gaps and collect valuable feedback with a new employee training system.
  • Features and functions to look for in your next employee training LMS.
  • Tips to customize your new employee training software and incorporate your own branding.
  • Tricks and techniques to monitor employee performance with the help of employee training software.
  • How to conduct a successful needs analysis before selecting employee training software to get the best ROI.

Selecting the right employee training software doesn’t have to be a matter of trial-and-error. You can choose the ideal system the first time around if you know which features to look for. As well as how to use your new tool to improve performance and fill crucial gaps among your remote workforce. Get your copy of Take L&D To The Next Level: Your Guide To Bridging Gaps And Boosting Profits with Employee Training Software to avoid common mistakes and improve online training ROI.

Download our eBook Take L&D To The Next Level: Your Guide To Bridging Gaps And Boosting Profits With Employee Training Software to learn how to take your L&D to the next level with employee training software. We’ll also share tips to use employee training software to improve your profit margins and employee productivity, as well as the unexpected benefits of investing in a new employee training software for your organization. Get your copy today to discover how to bridge performance gaps, collect feedback, and customize your online training.

eBook Release: Thinkific
Thinkific
Thinkific’s powerful platform makes it easy to share your knowledge, grow your audience, and scale the business you already love. Whether you’re educating 10 students or 10 million, you’ve got the easiest technology and best support in the business.
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