Whilst you may only have a few staff members working in your startup, maintaining an effective staff development program on an ongoing basis is tricky when you’re operating on limited resources. Even with external investment, all your expenditure has to be justified and comprehensively accounted for.
And let’s not forget – time is scarce in any business environment, and arguably even more so in a startup, so it’s understandable if staff training isn’t taking precedent when there are other pressing matters to attend to.
But this doesn’t mean that investing in your staff’s future should wait.
There are a ton of benefits to taking an interest in and continually cultivating your staff’s development.
Read on for a brief assessment of just some of the reasons why a Learning Management System (LMS) should be one of the core components of any startup’s business operations.
Getting a grip on your employee’s learning requirements isn’t going to get any easier if you neglect it. But even when you do give L&D increased precedence, how will your startup keep up with the constantly changing needs of each staff member that you employ? How will you manage this process as the business expands?
Well, with an LMS in use you’ll benefit from one centralized L&D process for managing your staff’s learning that can be scaled with minimal resource input and at little extra cost to the business.
Utilizing an LMS further enables you to pursue a personalized staff development approach in which you’re able to efficiently tailor training to each individual staff member’s needs with ease.
Not only does this aid in talent retention (which is of course essential in startups when it is likely that the operation of business depends on key personnel) but it also assists your business in attracting talented assets too.
As your startup’s operations expand, the need to fill knowledge and skill gaps will arise. Obviously this prompts recruitment and company growth, but with the use of an LMS you may find that it’s easier for your startup to remain lean.
The use of an LMS as an organizational learning, training and development tool facilitates information sharing and makes cross-role learning even more straightforward. Simply put, your existing staff may find it easier to manage multiple defined roles for a sustained period of time before the need to expand becomes a necessity.
Startups are often cited with having the advantage of being able to mobilize their resources quicker than larger, more established competitors, thus being in a better position to capitalize on opportunities in the market.
To be so reactive, your staff need to be prepared, informed and educated on short notice. Arranging external training sessions to accommodate this can be quite problematic though – this is due to factors such as the logistics involved, and the low likelihood of immediate availability.
However, with an LMS already integrated into your startup, you’ll have the platform to offload new knowledge onto key personnel at a moment’s notice.
Think of it this way – most other staff training methods will involve either disrupting your workplace, costing your business money or sapping an excess of your employee’s time to attend external training.
Productivity, time management and accountability are vital in business but even more so in startups where the margins tend to be finer, and the consequences of any loss in efficiency even crueler. That’s why an LMS will pay dividends when part of your startup.
Unless your startup is entering an entirely new niche, you’re going to have competition to fend off.
When your competitors have more resources than your new business then that’s when you need to get smart. Positioning your brand in a unique space within the market can allow you to add real value to your business’ proposition and enjoy increased success in attaining sufficient market share on which to operate your business.
If you have an LMS in your arsenal then, again, you will find occupying a position specialized to your strengths in the market so much simpler. Continually keep your workforce up to date with developments as they occur at minimal cost and dominate your niche to reinforce your business as the leading brand in your specialized area.
There really are so many traits that make up a successful startup – everybody has a different opinion, but from my research, I can safely say that an LMS (along with other tools and processes) has a positive correlation with many of those characteristics.
What have you and your management team outlined as the traits that your startup needs to show in its first year of trading? How will your new business survive and thrive?
Each business has its own unique requirements, but hopefully this post has given you plenty to think about.
There are so many different options when it comes to selecting an LMS suitable for your business. If you’re unsure on where to start, talk to Mindflash at your leisure for no-obligation advice on the next best step for the L&D of your employees.
Jordan Bradley works for High Speed Training (HST), a fully accredited specialist eLearning course provider based in the UK. He enjoys his responsibility of managing HST’s Hub – a blog which posts weekly insightful articles on a range of topics related to their array of online courses. Jordan spends the rest of his time running around the countryside, travelling on weekends to visit friends he wished lived closer, and fighting hard in the battle against laziness, amongst other things.