Most Useful Learning Management Systems For Measuring The ROI Of Training
Measuring ROI for training is extremely important. Not only will it give you buy-in, but you will masterfully manage to help your business grow through learning.
But, first things first: what is ROI?
Return (Benefit) / Investment (Cost) = ROI
However, that's a simplistic answer.
There are many parameters you have to take into consideration when trying to figure out what's actually under the umbrella term "Return On Investment." The way you calculate the payback period is certainly going to work better if you use long-term metrics. For example, it's important to know how much staff retention levels have improved. Or it might be key to keep note if there's a reduction in healthcare costs among staff. So, it's best to keep track of training ROI annually and for a long period of time. At the end of the day, you want an LMS for measuring training ROI effectively. Especially if you care to see whether your trainees manage to gain new knowledge and skills. Them getting the best out of their training will help increase efficiency. In addition, you might also manage to reduce costs in the workplace.
It's vital to be able to measure the cost of each training program, not only against the benefits of the individuals but of the organization as well. And finding the right LMS for measuring training ROI is something you need in your arsenal.
Check out eLearning Industry's list of the top LMS software for measuring ROI for training:
- Test out LMS tools within a reasonable training budget
- Compare training solutions based on analytics and AI
- Examine must-have LMS features to measure training ROI
- Evaluate learning platforms and explore reviews on User Experience
- Choose the best LMS tool to achieve business goals
Best LMS Tools To Measure ROI For Training
If your company is listed among the top LMS Software for Measuring Training ROI, feel free to add this badge to your website.
360Learning's learning platform fosters internal mobility to solve the talent shortage by empowering companies to upskill from within, leveraging internal experts for company growth.
Ready to improve your ROI?
For 360Learning reviews, make sure to visit our directory.
Highlights
- Powerful Automation
- Branded Academies
- Internal Experts
Highlights
- Powerful Automation
Orchestrate compliance training end-to-end, with automated enrollment, reminder notifications, certificate expiration alerts, and comprehensive audit-proof reporting.
- Branded Academies
Launch dedicated, branded academies in minutes to capture all of your business's use cases, from customer and partner training to sales enablement to employee onboarding.
- Internal Experts
Leverage internal experts to create 70% of your training materials. Training will be more relevant to your learners.
Plans And Pricing
Measuring the ROI of your efforts is easy with 360Learning. Launch branded academies in minutes for all of your departments' learning needs. Monitor the effectiveness of your training with dashboards and custom reporting.
Docebo Learn Data links learning data to real business outcomes and gives you access to deep, ready-to-analyze data. Utilize the tool to easily compare learning outcomes to your business KPIs and ensure learning programs are helping your business grow. Docebo helps you prove your learning programs impact your business.
Ready to leverage analytic-ready data for deeper insights, smarter decision-making, and better business results?
Highlights
- Break Down Silos And Centralize Your learning Data In One Secure Location
- Complete Access To Your Learning Data And KPIs
- Prove That Learning Is A Strategic Investment
Highlights
- Break Down Silos And Centralize Your learning Data In One Secure Location
Seamlessly integrating with your existing BI and data ecosystem. Keep your tech stack streamlined and leverage the tools you already use to empower your Learning and Development initiatives.
- Complete Access To Your Learning Data And KPIs
Analyze all the cleaned and organized data generated by learning programs easily in one place.
- Prove That Learning Is A Strategic Investment
Bring all your learning and enterprise systems into your business intelligence tool and start using the data to inform and validate your strategy.
Plans And Pricing
Connect LMS data to business metrics.
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- Learn Reporting Data
Course completion, badges earned, learning plans, sessions, etc.
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- Learning Analytics Insights
User engagement, course efficiency, learning quality, etc. Ability to correlate with KPIs in BI tool.
For pricing info, make sure to visit their website.
Learning Manager is an AI-based gamified learning platform that integrates with core organizational systems and offers more than 300 reports to measure ROI.
Learn why Fortune 500 firms prefer to use Learning Manager to power up enterprise learning.
Remember to go through the submitted Adobe Learning Manager reviews for more info on the UX.
Highlights
- 300 Reports
- Enterprise Integrations
- Engagement Reports
Highlights
- 300 Reports
Learning Manager offers 300+ custom reporting options with automated reporting in place. This allows administrators to identify learning behavior and learner progress vis-a-vis their objectives.
- Enterprise Integrations
Several out-of-the-box integrations with Power BI, SFDC, AEM Sites, and others give Learning Manager an edge in capturing and visualizing reports from multiple sources.
- Engagement Reports
Engagement reports for gamification and social learning help identify the engagement scores of learners and conduct necessary interventions.
Plans And Pricing
Proven technology to identify and calculate training ROI for multiple use cases. Visit their website to learn more about the pricing options.
Trusted by 70K+ teams as the platform to welcome a positive return on training. TalentLMS offers all the tools you need to track and measure your training's value and prove its worth.
Test TalentLMS for as long as you need with a forever-free account. Start today!
Don't forget to read the submitted TalentLMS reviews before you make your decision.
Highlights
- Measure Knowledge Transfer
- Gather Feedback
- Generate Reports
Highlights
- Measure Knowledge Transfer
Assess and quiz your people to quantify if learning actually sticks. Find out what courses are proving to be an obstacle and change them to become successful.
- Gather Feedback
Your learners can be some of your most valuable stakeholders. Survey them before or after a course and find out what works and what doesn't so you can optimize for better engagement.
- Generate Reports
Get the numbers behind your learning portal without having to crunch them. See who's logging in, what courses are completed, and more to highlight areas that need further development.
Plans And Pricing
Achieving a positive ROI on training happens faster with an LMS that respects your budget. Start with a forever-free plan and, when you're ready, upgrade along 8 cost-effective price tiers (4 with premade training). You'll never pay for features or users you don't need.
iSpring Solutions is a US-based eLearning software company that helps almost 60,000 customers worldwide establish effective online and blended training. They are experts at helping you achieve greater ROI on your Learning and Development projects. By utilizing iSpring Learn, you can elevate your business with the greatest asset you have: people.
Check it out to fill any training needs within budget.
Explore iSpring Learn reviews in our directory.
Highlights
- Detailed Reporting
- Training Automation
- 360-Degree Feedback Appraisal
Highlights
- Detailed Reporting
Track employee performance in training at all levels and identify skill gaps. Link the impact of training to employee productivity and KPIs, and expand your talent pool in uncertain times.
- Training Automation
iSpring Learn streamlines even large-scale, labor-intensive training with no need to invite external trainers and host expensive sessions on-site.
- 360-Degree Feedback Appraisal
Gauge your team morale and identify top talent without the need for outsourced, costly services. iSpring Learn has everything you need to grow committed professionals who will improve the team.
Plans And Pricing
Control your expenses and get exactly what you need from an LMS with a pay-per-active-user subscription and two incredibly flexible pricing models: Business and Enterprise. Choose the model that suits your needs best—you're ahead of the curve either way.
With Schoox, discover how learning impacts business outcomes with dashboards that correlate training metrics to organizational performance. It's a great tool that provides at-a-glance visibility that's easy to understand.
See how Schoox goes beyond basic training metrics and enables admins to track and analyze KPIs that measure the business impact of learning.
Want to learn more? Feel free to visit our directory to read Schoox LMS reviews by real users.
Highlights
- See The Impact Of Learning
- Track The KPIs That Matter
- Share Insights
Highlights
- See The Impact Of Learning
Measure the impact training has on the business KPIs that matter most while also analyzing KPI data to uncover training gaps and opportunities.
- Track The KPIs That Matter
Easily set up KPIs by importing data or integrating with third-party apps and see how metrics like completions and scores fuel business performance.
- Share Insights
Make reporting easy with prebuilt reports and dashboards or take your analysis up a notch and build your own reports to uncover and share learning insights with stakeholders.
Plans And Pricing
Schoox has everything you need to take action on learning and training insights that can help you make smarter decisions and drive business outcomes. Take advantage of the industry's only business impact tool that's built right into the LMS for no additional cost.
Are you ready to create better learning experiences with ELB Learning? Rockstar Learning Platform is a tool that empowers you to assess learners and prove proficiency fast. This is a comprehensive product suite for those who want to achieve training goals. Their services are exceptional and include an LMS offering.
Get a free account or schedule a demo at elblearning.com.
Read Rockstar Learning Platform reviews in our directory.
Highlights
- Measure
- Microlearning Module Builder
- Easy Management
Highlights
- Measure
Test for proficiency with in-line questioning, surveys, and more. Track performance and give credit for activities. Choose from multiple reporting options; export data for further analysis.
- Microlearning Module Builder
Developing employees and offering product training is easier than ever. Plus, you can create microlearning on the fly! All done right inside the platform.
- Easy Management
Your learners can enjoy training via desktops, tablets, and mobile devices. Publish as you please and automate enrollments. You can even set recurring training! No more missed dates for compliance and certifications. Single sign-on is available, too.
Plans And Pricing
You can scale the Rockstar Learning Platform and make it accommodate organizations of any size. Even for large enterprises, you'll have no problem training your teams globally. What I like about its pricing plans is the fact that it is based on learner and admin count. And, if you want more, you can upgrade it with authoring tools, courseware, and data migration.
CYPHER LEARNING empowers HR and L&D professionals to measure competency and mastery ROI for further insights into engagement, progression, and more. Hence, providing a holistic view into the employee lifecycle from onboarding through promotion. Ready to gain a comprehensive set of analytics and reporting tools to retrieve valuable data on training initiatives?
Contact CYPHER Learning for more.
Explore MATRIX LMS reviews in our directory.
Highlights
- It's All About Automation And Competency
- Enjoy Valuable Data
- Seamless Integration
Highlights
- It's All About Automation And Competency
Built from the ground up around automation and competency-based learning, CYPHER's sitewide, comprehensive analytics optimizes training program decision-making and measurement.
- Enjoy Valuable Data
Gain insight into competency ROI and analyze the progression of competency over time. Mastery ROI links progress back to business goals such as innovation, productivity, impact, and more.
- Seamless Integration
Integrate CYPHER with HR tools and systems for a holistic view of the employee lifecycle—from onboarding and development to engagement, promotions, and beyond.
Plans And Pricing
Online training is delivered flexibly and conveniently to maximize competency and mastery ROI. Pricing for the CYPHER Intelligent Learning Platform is customized for customers. It includes subscriptions, third-party content and services, and more. For more details, visit their website.
Top List Ranking: eLearning Industry's LMS Selection Criteria
Globally recognized LMS experts, including C. Pappas and our editorial team, did a thorough review of each vendor's eligibility and relevant published content (articles, eBooks, webinars). Our committee ranked the best LMS software for measuring training ROI based on the following nine criteria:
- Customer support
- Customer experience
- Software features
- Software innovation
- Customer reviews
- Economic growth potential
- Company's customer retention
- Employee turnover
- Company's social responsibility
Now that you've seen the list rankings of this top list, it's time to get a little deeper. Remember to go through our tips and insights to make the best LMS decision and measure ROI for training effectively.
Benefits Of Measuring ROI For Training With An LMS
So, how do you measure ROI for training?
Once you have your training in place, you must use the right tool to get as much hard data as you can to showcase the impact of the training. By demonstrating how worthwhile investment training is, you can get buy-in for future projects. What you need to do is prove your training ROI. That way, you'll be able to shift the C-suite's mindset about training initiatives.
An LMS can help you calculate the ROI of training and make the process less complicated. By using the right tool for calculating training ROI, you can:
- Measure training effectiveness
- Identify the economic impact of your training courses
- Justify your training budget
- Improve your training courses and initiatives
- Increase your credibility and professionalism
- Impact the bottom line of your business
An LMS tool with reporting and analytics capabilities is an excellent way to measure training program ROI. Focus on understanding learning effectiveness, job impact, and business outcomes. However, it's not just about measuring the impact on performance. You also have to isolate the effects of training. For that, you might have to create a control group to observe specific KPIs between the trained and untrained groups.
Also, you might like to opt for an expert estimation by getting feedback from participants and supervisors. Of course, another handy tactic is to use a trend analysis to see what changed before and post training. To understand pure business impact, you've got to get solid business results like more sales, lower turnover, and fewer customer complaints.
An LMS with reporting and analytics is a legit way to show your leadership solid return; After this, you'll get them to start looking at your training program differently.
Do you want to shift their mindset and convince them to consider training as a valuable asset for the business? My advice is to plan for the outcomes you want beforehand and use a credible standard to convert your results into a dollar amount with the ideal LMS.
Next Steps: LMS Comparison And Evaluation For Measuring Training ROI
By now, you know that training is extremely valuable for your employees. In fact, according to a study by Accenture, for every dollar spent on training, you get a $4.53 return. In terms of ROI, that equals 353%!
But getting buy-in from your leaders sometimes is a hurdle because most of them tend to think that training is just an expensive luxury, which is not the case at all.
Trust me; having the right tool for the job is key. And an LMS that has excellent reporting and analytics capabilities can simplify things when you want to prove your training initiatives are working.
Still wondering how to measure ROI for training with an LMS? Give it a go and try one of the best LMS tools on this top list.
And if you still can't decide, feel free to visit our directory to compare the best LMS tools!
