Software doesn’t just make training easier, it makes it better

Running a credit union without a strong training operation is like trying to start a car without gas in the tank. Training gives your staff the skills they need to execute their responsibilities, and it allows you to create paths of professional development that keep them engaged and excited to come to work.

Virtually every key success metric—from sales to customer satisfaction to employee retention—connects to training in some way, so your training should be driven by the latest, most advanced software. If you haven’t already, it’s time to invest in a learning management system (LMS).

A Training Hub

An LMS is a program that manages all your online learning activities, including:

• Assigning, scheduling and administering courses
• Tracking progress and course completions
• Reporting results
• Creating learning paths

As the technology evolves, LMS’s continue to expand to include a range of high-end features including the ability to deliver content to mobile devices and integrate your own custom-made courses with the program.

5 key benefits that credit unions using and LMS realize:

1. Less Waste

It’s not always easy to keep track of learning needs for everyone in your credit union. Fortunately, an LMS keeps everything organized. Whenever you want to know an employee’s progress on their learning plan, you can just search them by name and pull up their profile.

Because this information is always stored and up to date, you always know exactly what courses each employee needs. No more time or money spent on training only to realize it was unnecessary.

2. More People In the Loop

People procrastinate and forget—it’s just a fact of life. Oftentimes, trainers must take it upon themselves to personally remind employees that a specific requirement is coming due. Sending these reminders takes time; an LMS gives you that time back.

LMS’s come with automated messaging systems that remind staff members about upcoming training deadlines, which keeps everyone current and takes one more manual task your plate.

3. Better Cost Management

Because there are so many factors to keep track of, it’s sometimes difficult to precisely calculate training costs. With an LMS, you can fine-tune your financial reporting by using built-in expense tracking tools to record the costs of the content and the time employees spend on training.

This information is particularly valuable when you want to develop an ROI report to show leadership the value of your training initiatives.

4. Heightened Interest

We constantly hear stories about credit unions that notice an appreciable boost of interest in skill development and professional growth once they made the switch to an LMS. The reason? When training is easy to access and delivers a personalized experience, staff participation increases.

Successful online training programs are powered by content that provides practical knowledge the trainees can use. Practical content and a sleek, intuitive LMS are a winning mixture for credit union training. Together, they make it easier to provide your staff with career-enhancing skills and insights.

5. Showing a Commitment to Training

An LMS also has symbolic value, and symbols matter. By making the investment in an LMS, you’re demonstrating a commitment to your team’s professional development and sending them a clear five-word message: “We care about your growth.”

Your employees will get that message, and you’ll be rewarded with higher engagement, lower turnover and increased staff satisfaction. On top of streamlining and improving your training, an LMS could be the catalyst you need to transform your work culture.

CUNA Professional Development Online (CPD Online) is the premier web-based training service for the credit union industry. To learn more, visit cuna.org/cpdonline.