#cloud based lms

With the development of 5G & next generation smart phone technology, the telecommunication industry is evolving at a rapid pace. The global telecom services market size was valued at USD 1,657.7 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.4% from 2021 to 2028 (Grandviewresearch.com, 2021).

The soaring popularity of mobile phones among different generations and large number of app-based services delivered through the mobile platform has been the greatest game-changer in the industry.

In the post COVID 19 situation, the demand for high-speed internet has increased with offices, schools and others operating their daily routine online. In 2020, the mobile data services segment held the largest share of nearly 33.0% and is expected to exhibit a significant CAGR from 2021 to 2028 (Grandviewresearch.com, 2021).

For Telecom sector, strength is in numbers – there is a huge customer base to handle, which needs a matching ratio of workforce to provide support. The training of this huge number of workforces can be quite challenging to manage but unavoidable because telecom is also a very competitive market. From onboarding to continuous employee training on changing product offerings, service parameters, and technological advances is crucial in this industry. With constantly growing workforce you would need a corporate learning platform to manage the process seamlessly and help in achieving the learning targets faster which in turn shall provide the competitive edge to your employees.

How a Corporate Learning Platform can make learning more engaging?

Online or offline learning infrastructure basically serves two purposes. On one hand it creates a robust system for the learners to seamlessly participate in their regular learning process. On the other hand, it must be an engaging system which will ensure continued learner participation. Huge manpower in the Telecom industry also signifies high rate of attrition, third-party enrolled employees, and lower engagement. An extended enterprise learning management system is known to automate the user management of this extended workforce which includes sales representatives, external distribution partners, franchises, service technicians, customer support executives etc. Let us discuss how the system can also keep your employees interested in their learning solving the challenges of attrition and lack of engagement.

Gamified Learning Experience

A gamified LMS with interactive features can be beneficial for your extended workforce to encourage them learn newer concepts quickly. This can be achieved by implementation at an individual level or in a group. The LMS allows you to create a healthy competitive environment with individual scores displayed on a leaderboard to boost learner engagement through scores & badges.

AI powered Content Library

The use of OTT platforms has increased post COVID19 and some of these apps are extremely innovative in terms of the content categorization and recommendation that they present to their viewers. On similar lines, LMS can provide recommendation of video-based learning nuggets for quick consumption & greater retention for the learners. These nuggets are very beneficial to the sales & customer support team as it serves as point-of-sale support.

Mobile App support for extended workforce

Collectively, the human population spends more than 60% of their time on their mobile devices. This makes the mobile phone a perfect device for learning and the mobile app variant of the LMS provides the learning on-the-go. This helps learners utilize their off hours to as it provides both online & offline learning accessibility.

Social Learning Tool

The social learning platform seeks to engage learners and provide a human context to their learning experience. These tools help to create an environment of collaboration between employees and provide an active platform for the remote workforce to engage with. The connection between learners and instructors can also benefit from a social learning platform. Experts believe that social learning tools promote peer-to-peer learning, which constitutes of 70% of all corporate learning, in the virtual environment.

The workplaces of today could use a lot more mindfulness. The rushed life seldom leaves room for people to sit back and catch some moments for themselves. In such a scenario, if the LMS software for your organization could also help your learners reach a more mindful state of being – both in their personal lives and at the job – wouldn’t that be a win-win?

Cloud-based LMS for increasing mindfulness in the workplace

A cloud based LMS is known to decrease stress among the learners compared to the traditional ways of executing corporate learning programs. This is because cloud-based LMS follows a multi-modal learning approach – using different assets like social engagement, personalized content, live lectures, collaborative tools, and much more – which promotes the holistic growth of the learner. In this journey, the learner grows outwards without stressing themselves, and instead, while being in touch with themselves.

Researchers have also shown such a multi-modal approach to learning to increase mindfulness – which backs the efficiency of LMS as a tool to increase mindfulness in the workplace.

Features that facilitate mindfulness-oriented learning

As we mentioned earlier, mindfulness results from the multi-modal approach that generally cloud based LMS follows by engaging different important yet distinct learning assets. These assets include things like live lectures, hands-on training, collaborative atmosphere, compliance management, and a lot more. Broadly, these assets can be categorized into the following four features that enable mindfulness training for remote workers on LMS software:

Cloud-based learning –  Cloud-based implies that the learning platform is accessible from anywhere globally by just using the internet and a compatible device. Cloud-based learning, or mobile learning, allows learners to take things at their pace and not rush into anything. All of the learning progress is saved on the cloud in real-time without the learners having to do anything. They get to choose their time and place to learn, which enhances their mental well-being.

Social learning environment – A cloud-based LMS software is essentially a social learning platform. With features like file sharing, live chat, video conferencing, task management, a corporate LMS provides a sense of community to all the learners. Such a social learning environment goes a long way in keeping the learners engaged and high-spirited.

Webinars and live tutorials – LMS software are perfect for hosting live lectures, webinars, or any live tutorial. With features like live chat, polls, quizzes, and a lot more, cloud-based LMS provides you just what you need to conduct a successful live session – allowing your learners to collect information from anywhere, easily.

Blended learning experience – A cloud-based LMS software does not prevent onsite training. Quite the opposite – with LMS, you get a way to offer a blended learning experience to your people. Include online learning, in-person classes, and onsite learning using the cloud-based LMS for a blended experience. However, just the LMS can meet most of your training needs if you wish to do that – but you can also blend it with other methods as per your requirements!

In conclusion

The importance of mindfulness can’t be overstated in today’s world. With the ongoing pandemic and the general unrest in the atmosphere, it is difficult for anyone to focus on their work, let alone learning new things. In such a scenario, it is extremely important to promote mental well-being and help learners reach a more mindful state. The good news is that a cloud-based LMS can help you achieve this – with just the right ingredients!

The banking industry has seen a lot of changes recently due to new regulatory reforms and a significant increase in the use of digital communication. There has been an increase in customer demands too due to the competitive environment with so many new banks coming up. The competition and automation of working ways have made the BFSI sector think and implement new ways to achieve business growth.  Indeed, the banking industry has started deploying technologies and implementation of cloud-based LMS to meet customers’ requirements.

In the recent past, the BFSI sector has been stressing about hiring highly skilled people for roles who can handle this new technology. The companies, therefore, want their employees to undergo training through a learning platform that includes skill assessment modules to test employees’ knowledge and be ready in sync with the industry regulatory and compliance needs.

Moreover, the employees must be trained and upskilled, hence a cloud based LMS is beneficial where employees can complete the training online as compared to in-person training. As per reports, about 42% of organizations save their costs with the use of the LMS.

BANKING SECTOR TRAINING CHALLENGES

Frequent regulation changes

This is very common in the banking sector to face multiple regulation changes throughout a single year, so it’s important to be able to update content quickly and easily without having to redesign entire courses.

The banks also need to ensure that new information reaches the employees quickly.

Ensuring all employees meet training standards

It’s vital that all staff complete their training in full and to a satisfactory standard, and that any gaps are spotted and dealt with speedily. When training is being delivered on a large scale, often nationally or globally, it can seem like a big challenge and it’s important to spot gaps and ensure everyone is on the same page.

Resistance to change

Many organizations in the banking sector include staff that has worked in the industry for many years. Due to this long tenure, comes a resistance to change with new programs and training plans rolled out. Thus, already adoption of long-standing processes or traditional ways mostly causes issues.

Learning on the go

The bank officials, mainly the sales team and other field staff look to complete their learning while traveling or as per their availability. Thus, there is a need for smart device-based learning which provides them the ability to learn on the move.

ROLE OF CLOUD BASED LMS

Every organization in most sectors faces employee training challenges and to overcome them, the organizations implement a learning platform such as cloud based LMS. Let’s go through the ways how a featured loaded LMS can sort out these challenges.

Adherence to Internal and regulatory standards

The cloud based LMS offers the flexibility to design and deploy content to targeted users. This would be helpful to a multi-national institution that would require to adhere to multiple regulations. A well-designed LMS can help the institution tackle this problem efficiently and effectively.

Availability of training material on the go

In this era of smartphones, users want to access the training material on the go as this saves their time and makes them learn new things quickly. An LMS ensures that the training material created by the learning and development team is made available to the users on the go.

Engaging the learner

Learner engagement is key to any organization’s success as the more happily employees learn, the more quickly they will implement those learning and lead towards achieving business growth. A cloud based LMS with features such as gamification and social learning supports the requirement to ensure user engagement and give detailed reports on the engagement of the user.

Measuring Training effectiveness

A cloud based LMS help in measuring the effectiveness of all its training initiatives across courses, groups, locations, regions, departments, etc. The leaders can make decisions based on the data set generated on training completion, employees’ feedback, and other parameters.

Reporting and Analytics

The measurable impact in terms of data plays an important role, thus cloud based LMS effectively creates reports that could result in effective learning interventions. This includes the creation of customized reports and readily available dashboards.