17 Jan 2022

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How can SMBs manage the conversion from ILT to elearning?

There is so much need for online training because employees have to be perfect at their jobs. The companies are also switching to e-learning because of the ongoing pandemic, due to which the employees can’t attend training in person. However, small and medium businesses(SMB) can still save money even when they implement e-learning. It’s because they can still use the content of instructor-led training(ILT).

Companies are now looking forward to converting ILT to e-learning because it eliminates travel costs required for attending such events.

Also, when ILT is transitioned to e-learning the sessions are shorter by 50% in duration, requiring lesser time to attend them.

Although the learners might not be interacting with other learners in e-learning because it’s asynchronous, they still have the privilege of talking to them, in an online community integrated with an LMS. Apart from being time-saving, e-learning has better retention rates than ILT. The retention rate is 3 times more in e-learning(24-60%) than ILT(8-10%)So, in e-learning the need for repetition is decreased because of better retention. Instead of repetition of the old material, employees can be given new material to study in e-learning.

Reuse the content

Yes, the SMBs can use some content used in instructor-led training. E-learning companies USA can help you modernize your PDF content by either introducing space between paragraphs or adding some infographics.

The company’s objective while designing an e-learning course must be to reduce the time learners devote to learning, hence such a course must include the most necessary information without which learners would be inept at their jobs. E-learning courses are delivered to all the audience simultaneously, rather than the ILT where different sessions are organized for different learners at distinct times.

Be aware of LMS costs

The SMBs can ensure that money is saved on e-learning too. It’s better that before getting an LMS, have complete knowledge of costs. For example, an LMS requires maintenance costs too, so ask your vendor about them beforehand. The LMS must also have support systems available like 24/7 chat and phone support etc. which allow you to talk to the vendor any time. If a vendor has high costs for the same, get them to know in advance before buying the LMS. Don’t opt out of such options because sometimes such help is quite vital.

Don’t fire instructors

When one changes from Instructor-led training to e-learning, it does not mean you don’t require instructors anymore. The instructors are still needed because they can organize VILT now. They can also send emails to prospects about such sessions and answer their queries through the LMS. They can also check employees on how much time they spend on completing a course and act as an SME and make course modifications accordingly.

How to get an LMS?

The SMBs also need to know that although an LMS must be implemented in time, they must take sufficient time in choosing one. As an SMB, you can get an LMS consultation about which vendor you should select. Such a consultant can help shortlist one out of e-learning companies USA for LMS provision. An LMS directory is also useful because it has categorized the available LMSs according to the different niches like those meant for financial industries, aviation, hospital, and healthcare, etc. You can check an LMS as per the availability of different features such as user upload which allows users to add content or attendance tracking which allows them to track event attendance like how many people have registered for an event such as a webinar. So, based on all these features, you can make a purchase. An LMS which has an inbuilt authoring tool can be used to create MCQ quizzes, Fill-in-the-blanks, Drag and Drop exercises, and True/False questionnaires and add them to the course. You can also create interactive content, like adding hyperlinks that direct users to pop-up windows in such LMS. This way, users can be told fun facts about a term which they can recall later easily. Hyperlinks can also be added for PowerPoint slides, images, podcasts, and videos, etc.

When designing the assessments for an e-learning course, make sure that you include all the questions which are absolutely essential for learners to answer.

There can also be popup quizzes added in the middle of the lesson to test the user at the end of one slide. Through these quizzes, learners don’t doze off while browsing through the course.

An LMS directory also has customer feedback so that you know what are the drawbacks of the product too.

Sometimes, e-learning might not be the best solution because the learners might need face-to-face chats with the instructors. So in that case a blended learning approach is beneficial so that learners get a chance to meet the instructor once a week after they have gone through an e-learning module.

10 Dec 2021

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Why Fintech training is needed now?

The BFSI companies are implementing Fintech on a large scale now. But employees have to be taught how to use Fintech. Fintech implies the technology that makes the provision of banking and related services to customers easier. Employers have to comprehend the underlying problems for the employees in applying new technology. The issue with companies is that when they introduce Fintech is that they forget all the employees have a learning curve. So, they can imbibe the relevant software skills slowly but not in a day and hence employers have to be patient. These learning curves can also vary depending on how sharp an employee is. Hence, Fintech training is a continuous process and not one-time. Moreover, such training has to be implemented again once there are some software updates.

Fintech is used in all kinds of organizations now because each one of them wants faster servicing of the customers. Hence, Fintech enables expedited invoicing.

But the employees all over the organization have to be trained in using such solutions because their cooperation can help in introducing digitalization. These are the reasons why such training is needed more than ever now:

Extensive use in the BFSI industry:

Fintech is getting implemented rampantly in banks and financial organizations because customers want automated operations. They don’t want to waste their time in banks to withdraw money because it takes time dealing with clerks. Instead, a majority of them use mobile or net banking and this trend will increase in the future. So, the financial institutions that don’t employ such software or don’t deliver the relevant software knowledge to employees can end up losing a chunk of customers.

The data generated through the Fintech software is a large part of this product offering. So, elucidating employees about data analytics is a crucial part of software training. They should know how to conclude the data for easing up effective decision-making by the organization. Fintech is safer than compared to the legacy systems used by conventional banks in terms of data protection.

Studying website traffic:

The employees can be taught so much when the banking transactions are conducted online. It’s because, at the end of the day, they can fill in reports about the traffic patterns. This will provide to them the demand for which banking product is the highest.

But apart from employees, customers also need to be educated about the benefit of online banking. It’s because when they are trained so, their cost of the internet would be less due to faster resolution by them.

The banking employees need proper Fintech training also because they should not be installing anything without the permission of the IT.

When they are using any untrustworthy software, they are putting the company’s data at risk.

Tech companies getting into the finance sector:

There are not many options available before finance professionals when it comes to learning the Fintech software critical to their industry. Hence, their company must provide Fintech training to them. The rising need for Fintech training is also getting felt because tech companies are also expanding into this sector. For example, WhatsApp recently launched its own payment platform so that users can pay through it apart from chatting. Given the user base WhatsApp has throughout the world, its payment platform would be a strong competition to others. Hence, employees of such companies need to be re-skilled to deal with the financial services.

Better services by finance companies:

However, the need for Fintech training is more among financial institutions, because 37% of them have included such solutions now. In the future Fintech, training will become quite mandatory because financial institutions believe that artificial intelligence will be an altering technology in the future. In the insurance sector, the Internet of Things is also getting adopted because the insurers are using it to get real-time health information about the insured.

Businesses are also adopting technologies like facial recognition, to ensure that customers don’t become victims of fraud in online transactions. The banks can detect whether it’s the customer conducting the transaction, not an imposter who has stolen his identity.

Hence, Fintech training is important for such banks which want to adopt useful software.

Coming up of neobanking:

The move to digital banking has also made competition tough for traditional banks. Customers also prefer neobanks now because they don’t have to visit the bank’s office. It’s hassle-free to open an account with a neobank because all documents have to be uploaded online. In the case of India, neobanks are yet to exist because RBI has mandated that a bank needs to have a physical presence. So, such banks are providing their operations through the physically present bank. Such banks are posing huge competition for traditional customers in the domain of retail customers.

Hence, conventional banks have to use Fintech to safeguard their business.

06 Dec 2021

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What features should a staffing company LMS contain?

In today’s times, when technological use has reached unprecedented levels, an LMS is the right software for information dispersal in companies owing to easy access.

For example, in HR firms, the employees can be elucidated about the company policy through such software so that they don’t break rules while signing contracts with clients. Due to the following reasons, an HR company needs an LMS:

Utility for employees:

Employees also need to be updated about clients’ requirements through job descriptions because otherwise, they can’t fulfill them. Apart from employees, such LMS can also distribute information to clients and recruits who might need new information regarding their positions.

Utility for clients:

The LMS is also useful because when a client/company sends you assignments for a certain job position; you can upload them to the LMS. Afterward, automatic emails are sent to the job candidates containing such assessments, helping a staffing company evaluate them for the job.

A client also requires onboarding solutions for new joiners, and they can also get access to them through your LMS. Hence, a staffing company needs an enterprise LMS so that it can be accessed by various stakeholders.

How to choose an LMS?

A staffing company needs to evaluate which is the best LMS for its needs. It’s better that it shortlists at least three LMS models and then evaluate them for usability. You can get an idea about which is the best one in terms of features and prices. After comparison, you can come to a final decision. To take a buying decision, you can also contact the individual vendors and ask them for a demo. It’s better to understand that you study everything about such LMS including their performance reviews by customers before making a buying decision.

All kinds of LMSs are available in the market; however, a judicious selection has to be done by a staffing company. Coding is needed when you have opted for a free LMS instead of the one with a monthly fee. As an HR firm, you might not have such coding prowess available in the company. Hence, it’s better to choose an LMS which requires you to pay monthly subscription fees so that the vendor undertakes all the required up-gradation tasks. It’s better to do a need analysis to find which LMS is better for your organization. The employees are the best resources for getting information about the required LMS. A staffing company can make sure that its processes get automated through such an LMS. These are the essential features of such an LMS:
It also has to check the support system of such an LMS vendor, whether it’s 24/7 or not. Is the vendor ready to provide you with bespoke reports in case those are required?

These are the essential features of such an LMS:

Integrated with a database: A staffing-company LMS is a major time-saver for employees of recruitment agencies. It’s because instead of storing all the resumes in folders on the desktop PC, they can store them in the LMS. As soon as they get an email from their clients about a new opening, they can match the key attributes with the LMS database resumes and send emails to the desirable candidates. So, instead of searching the mailbox for candidates to whom job emails have been sent, they just have to click on an LMS.

Automatic calculation of salaries and work-hours management: This LMS is pivotal for a staffing company that deals with temporary staffing solutions. It’s because it can help recruitment agencies in contacting such candidates and maintaining their salary records. For the temporary employees, the data related to their tenures and salaries is huge and hence needs digitalization. For example, when any opening about a provisional worker is put on the LMS, emails are sent to the labor suppliers about it. This reduces the outbound calls by the staffing agency employees who might have to set up interviews for such employees with clients also. In the case of short period staffing, since the staffing agency has to pay the salaries of such employees, it has to be aware of the work hours also. When such an LMS is at their disposal, they can automatically get the work hours of such employees after deducting break time every day. This happens because when their clients upload the worksheet of such employees on the LMS, it captures the working hours of such employees.

In the case of both temporary and permanent staffing, if an employee has left the job with a client or has not joined after receiving the offer letter, all the data gets stored in the LMS for further reference. Even the salaries paid to the temp employees are stored in the LMS so that there is no confusion regarding the salary disbursement.

Document sharing: A staffing company must have a document-sharing provision with clients. This way, they can ensure that when candidates submit their documents from previous companies, they can be shared with the clients for third-party inquiry.

Email notifications: An LMS must be easily able to send emails so that new hires get all the information about their joining like the contact person etc. A welcome email is also shot to new joiners to ensure that they are congratulated on the new job.

Document signing: This is also inevitable because the candidates have to sign documents such as an offer letter before they can join the company. Therefore, such an LMS should have features for creating digital signatures. The companies can add such documents to this software and then get updated when the employee has signed them. Moreover, now every employee is required to sign the anti-harassment policy clause before he joins the company so that in the future if he is found responsible for the same, he can be terminated.

That’s how; the staffing companies should select the LMS provided it contains the above-mentioned features.

22 Nov 2021

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Is investing in a white label LMS worth it?

A white label LMS has become a necessity for companies because it allows you to do more than add content.

You want the LMS to represent you, which is crucial if you want it to strengthen your brand image. So a white label LMS allows you to do many things as follows:

Customizing the LMS’s home page-As an LMS software administrator, you know that the customization of your main page matters, like adding your logo in the banner, etc. There can also be the addition of other features such as the headline apart from adding the company’s website in the Call-To-Action button.

The admins can also add pages to the LMS menu like an About Us page to add some introduction about the company.

Customizing the home pages of the learners-Similarly, the LMS admins can also add customized pages for the learners after they log in to their accounts. These pages can be set up so that they can include any announcements made about the course on the top of the home page. You can use drag and drop widgets to create a home page, such as chapter names

Hence, a white label LMS software is worthy of your investment because you can customize it, unlike any other LMS. A large team of developers is needed to change an LMS software, which is not so with a white-label LMS. Apart from the manpower, it’s also the time needed to build an LMS from scratch. With a white-label LMS, apart from the time saved in developing such software, there is a perfect assurance about the quality because the vendor has beta-tested it.

Changing navigation– The most recommendable part about a white label LMS is that its navigation can be changed. It can ensure that users don’t get lost once they log into their home pages because all the links can be included there.

Having perfect email and certification templates– Many other features can be customized in a white label LMS, such as the email templates. Every LMS has a facility that can send email notifications to the learners when a new course has been launched. With a white label LMS, apart from drafting this email, you can also add the company’s logo and remove the LMS vendor’s logo.

The certificates issued to learners can also be changed in the same manner, wherein you can add a new design created in Photoshop to the LMS. A private label LMS software does not have such facilities because you can’t upload or create a new template. You have to use the pre-existing templates. Creating a new certificate template with a white label LMS is straightforward, with extra tags and colors available. For example, if needed, you can add the date of enrollment tag to a certificate, and every time it’s generated for a user, the tag will be auto-populated.

Hence, having white-label LMS software is quite convenient for a business.

08 Nov 2021

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When can a company trust LMS reviews?

Companies in every part of the world are trying to get the best LMS for their employees so that they are regularly updated about the company policies and new technologies. But sometimes businesses can be duped in the process of buying an LMS if one of the e-learning companies USA has posted fake reviews about its product.

The businesses, therefore, need to get into the detail of LMS user reviews before buying it because it’s a significant investment.

Businesses should not go after an LMS if it has all but one positive review. That single positive review is a red flag that the company has posted itself to beguile users about its product.

User details mentioned in reviews

If the user reviews about the LMS are genuine, then they won’t be scared of sharing their details. Through such credentials, anyone can get in touch with them.

Hence, authentic reviews are always in-depth, which include the company and purpose for which the LMS was used. Moreover, sometimes, when the users want to post their reviews about a certain LMS, they have to log into the reviewing account through LinkedIn, and hence the readers can check whether it’s a company posting the review.

Industry based reviews

There are so many review sites these days, but the businesses must look out for those sites which just deal with LMS reviews. It’s because those sites are most credible and contain the opinions of businesses from your industry about a certain LMS. They also have articles that guide a business about how to buy an LMS. For example, how many factors are critical for a business in an LMS?

Are product features included in such reviews?

Another thing that should be checked in user reviews by companies is how much detail about the product is mentioned. If a user has employed the LMS in the company, he knows some features in detail. So, knowledge of such details is proof that the reviews are authentic. At the very minimum, the users have signed up for the free trial of the product and that’s why are aware of its desirable and undesirable features.

How can choosing the wrong LMS cause problems?

When an LMS is not correctly selected by a company, it can lead to learning issues. An LMS should have a practical setup that includes text-based chapters, including images and videos also. Then there can be text animation to engage the user. It must also have ample scope for gamification so that the users are stimulated with games. Any kind of boring game which don’t involve competition among team members is also lackluster for employees. Hence, the game formats of an LMS must include leaderboards to inspire employee performance.

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