Few things in the corporate world generate such vociferous reactions as the performance review. Held annually, employees meet face-to-face with their judge, jury and potential executioner. Sometimes, the outcome is positive, with the employee relishing a well-earned pat on the back, hefty bonus or promise of better things to come. Other times, well, the experience is not quite so pleasant.
Failure to keep promises, blaming employees for leadership mistakes, lack of credit, disparaging remarks, silent treatment, poor or no decision making....the list goes on and on. The impact of poor leadership is not simply emotional, it’s financial. Various studies on the subject show that up to 32% of voluntary turnover can be avoided with better leadership. Calculate how much it costs to lose one competent, productive, contributing employee and then multiply that by having to replace 30% of your workforce.
While of course those organizations already using an LMS know how beneficial LMS can be, organizations that are new to the game often face a battle to convince decision makers of the benefits that an LMS can bring, in return for the investment. That's why we thought it would be useful to highlight five of the chief benefits that LMS can bestow on an organization.