Large and multinational companies retain talented employees by providing fringe benefits or perks in addition to their salary income. They reduce employee turnover rates by providing fringe benefits like life insurance, health insurance, disability insurance, childcare benefits, and retirement plans.
However, small businesses and startups find it challenging to retain skilled employees by providing fringe employee benefits. They overcome resource and cost constraints by investing in employee training and development. They engage, motivate, and retain employees by creating reskilling and upskilling opportunities.
Unlike conventional learning methods, eLearning solutions help small businesses train, reskill, and upskill employees in a cost-efficient way. An enterprise can further curtail infrastructural and IT staffing costs by implementing cloud-based eLearning tools and platforms. We are discussing some of the eLearning tools a company or startup requires to replace small business employee benefits.
5 eLearning Tools that Help Small Businesses Replace and Change Employee Benefits
Learning Management System (LMS)
An LMS is one of the most commonly used eLearning tools. The software facilitates enterprise eLearning by simplifying the creation, delivery, reporting, and management of training programs and courses. A small business can implement, customize, maintain, and scale cloud-based LMS without increasing infrastructural and staffing costs.
The software facilitates upskilling and reskilling by supporting multi-format digital content and self-paced learning. It enables employees to acquire knowledge at their own pace by delivering digital content in multiple formats – eBooks, podcasts, educational videos, and quizzes.
A small business can further boost learner engagement and learning experience by implementing a gamified learning management system that provides gamification features like virtual coins, badges, and leaderboards. A small business can use APIs to integrate the LMS with eLearning solutions like virtual classroom software and digital library software.
Learning Content Management System (LCMS)
No small business can reskill and upskill employees without ensuring access to eLearning content in multiple formats. It needs to ensure that an employee has the option to acquire knowledge by reading eBooks, watching videos, or listening to podcasts.
An LCMS helps small businesses create, publish, and deliver digital content without investing in eLearning authoring tools. The features and tools provided by the software help trainers and instructors write eBooks and record videos and podcasts without putting in extra time and effort.
The trainers can use the software to speed up content delivery by reusing and repurposing the existing content. At the same time, new-age LCMS features data analytics to make it easier for trainers to produce content according to learners’ needs and preferences.
Digital Library Software
Digital library software helps small businesses curtail eLearning content creation costs. The software enables employees to access a large repository of information objects. An employee can access the software on a computer or mobile device to access eBooks, podcasts, videos, journals, quizzes, and simulations on demand.
Also, a small business can customize the cloud-based digital library software according to its precise employee training and development needs. For instance, it can customize the virtual library to enable employees to join important courses like technical training, orientation training, leadership training, soft-skill training, and sales training.
Additionally, a small business can help employees acquire new skills and acquire relevant competency by providing access to eLearning resources covering cutting-edge technologies and industry best practices. However, small businesses must consider and prioritize learning management systems that come with a complementary digital library.
Learning Experience Platforms
As the name indicates, learning experience platforms help small businesses reskill and upskill employees by improving their eLearning experience. The platform encourages employees to acquire and retain knowledge after working hours. Also, new-age learning experience platforms provide relevant and contextual content to employees using artificial intelligence (AI) and machine learning (ML) technologies.
The eLearning platform enables employees to access eLearning content collected and curated from online sources. Also, a learner can access the platform to understand new topics and concepts by reading blogs, watching videos, and listening to podcasts. AI algorithms make the edtech software recommend personalized content to each employee based on his eLearning goals and past activities.
At the same time, it keeps learners engaged and increases course completion rates by providing a slew of gamification features. Hence, it becomes easier for small businesses to run employee training and development programs without investing in eLearning content development and management. The business also has the option to integrate the cloud-based software with digital library software and learning management systems using application programming interfaces (APIs).
AI Chatbots
AI Chatbots help companies increase course completion rates by facilitating social and interactive eLearning. While acquiring knowledge, employees can interact with the chatbots answer questions, gather additional information, and avail of relevant support. Hence, it becomes easier for them to acquire and retain knowledge just like one-to-one teaching methods.
A small business can modernize employee training and development programs by integrating the chatbot with its eLearning portal. The integration will enable employees to get personalized study support while reading eBooks or watching educational videos. An employee can understand complex concepts and complete assignments by leveraging the information and insights shared by the AI-powered chatbot.
The software further helps trainers improve learner experiences and learning content by sharing insights gained through automated learner sentiment analysis. A small business has the option to implement a variety of educational chatbots. Also, it can customize the chatbots according to precise employee training needs and goals.
Conclusion
Unlike large and multinational companies, small businesses find it challenging to motivate and retain employees by providing employee benefits. They boost employee experience and satisfaction by making skill development and skill improvement an ongoing process.
A small business can replace or change employee benefits by implementing the right eLearning tools. It can form an integrated employee training platform by integrating various cloud-based eLearning solutions. Otherwise, it can eliminate the need to invest in individual eLearning tools by implementing a unified learning platform.
About Mintbook
Mintbook helps small businesses train, reskill, and upskill employees by providing a unified learning platform. A small business can avoid the need to invest in multiple eLearning tools by implementing the integrated platform that provides essential edtech solutions like a learning management system and digital library software.
