A Corporate University is a way for businesses to teach their employees how to do things their way. Thousands of companies, including many Litmos customers, are adopting this new idea of training their customers. Any company that needs to educate their employees on anything can benefit from a corporate university. In other words all companies can benefit from a corporate university.
In the past, companies realized that classroom training was not cost effective. Providing classrooms and hiring teachers can be very expensive. Add the cost of flying and providing a hotel room during the training for all employees. We start looking at thousands of dollars for a single training session. And if your employee turnover rate is high, then forget about it. Financially, it makes more sense to cross your fingers and hope for the best than it is to properly train your employees.
Now, technology allows Corporate Universities to move to virtual classrooms by using an LMS. Virtual classrooms are now more cost effective for companies to execute. To add another level of cost effectiveness, put the LMS in the cloud and the company eliminates the cost to maintain servers. By creating a virtual Corporate University you are increasing your employee knowledge without the outrageous cost.
A few examples of how a Corporate University can be used:
- Policies – Employees may be trained on specific rules or guidelines to follow.
- How to use computer systems – Including, but not limited to, Excel, Outlook, POS, CRM or ERP systems.
- Product information – What are the benefits and features of a product and how is it used.
- Recipes or formulas – Consistency is key when creating a product that represents your brand.
Some Litmos customers who are using Litmos as a corporate university: