94% of employees would stay at a company longer if it invested in their career
– Workplace Learning Trends LinkedIn, 20181
With the growing momentum in the eLearning market, organizations keep on increasing their training budget and investing in people. Though the impact of a learning and development program cannot be ignored, candidates can relent the efforts that a well-defined training project asks for. The training of an L&D program can be extremely demanding, resulting in distracting people from their core business function.
Learning and Development teams are under continuous pressure to focus on employees’ core competencies with limited resources. In such scenarios, L&D teams have to manage a full spectrum of learning services. This results in missing deadlines, ineffective communication and budget mismatch, which are some of the prime reasons for companies to look at outsourcing L&D services. Bringing a training outsourcing partner can bring positive outcomes such as scaling L&D talent bench, learning content modernization, driving learners’ engagement and training reports to understand the impact of the program on business. Such Managed Learning Services (MLS) providers offer a full-service network of instructors and access to a pool of online courses/seminars to increase learning options.
Before engaging with a Managed Learning Services provider, companies must check on the below points to understand if this collaboration address their business requirements –
Control Overall Training Spend
Managed Learning Service provider can help govern expenses for organizations that are equipped with allocating budget to the right resource for training programs.
Increase L&D Activities Globally
Because of the extensive network of instructors that such vendors possess, it becomes quite easy for them to take up L&D activities for learners that are not locally available.
Promote Learning Technology Development
Your MLS provider must adopt to the latest technology development in their learning programs to not only increase engagement, but to create new learning experiences for learners.
Possess an Array of Learning Expertise
This characteristic enables aligning training expense with various learning methodologies to achieve business objectives, which encourages learner’s participation.
Showcase Business Results from Learning Exercises
Ensure optimum return on training investments is the prime objective of an MLS provider. At the end of the program, the learning partner must be able to rationalize the spend in terms of business results that you’ve done on their services.
Grow Learners’ Engagement to Impart Knowledge
Being experienced campaigners in the L&D business, MLS providers need to create innovative and entertaining ways to keep participants engrossed during training sessions.
With Managed Learning Services, companies can focus on core group roles without being concerned about the L&D activities for training programs. Apart from being time-consuming, these administrative functions carry a risk of learning activities to be carried out in a way that they remain fragmented, delayed, incoherent and eventually delivering not-so-good learning experience. Organizations have learnt that training and development is an investment, and with the right execution of responsibilities, it drives successful future to the business, maximizing the returns. You can also download our free eBook: How to Buy Learning and Development, which explains the challenges and opportunities of L&D outsourcing. This can help you get functional insights on developing an L&D outsourcing strategy to manage third party training vendors with a pragmatic 6-step action plan.