Most Useful Learning Management Systems For Measuring The ROI Of Training
Measuring ROI for training is extremely important. Not only will it give you buy-in, but you will masterfully manage to help your business grow through learning.
But, first things first: what is ROI?
Return (Benefit) / Investment (Cost) = ROI
However, that's a simplistic answer.
There are many parameters you have to take into consideration when trying to figure out what's actually under the umbrella term "Return On Investment." The way you calculate the payback period is certainly going to work better if you use long-term metrics. For example, it's important to know how much staff retention levels have improved. Or it might be key to keep note if there's a reduction in healthcare costs among staff. So, it's best to keep track of training ROI annually and for a long period of time. At the end of the day, you want an LMS for measuring training ROI effectively. Especially if you care to see whether your trainees manage to gain new knowledge and skills. Them getting the best out of their training will help increase efficiency. In addition, you might also manage to reduce costs in the workplace.
It's vital to be able to measure the cost of each training program, not only against the benefits of the individuals but of the organization as well. And finding the right LMS for measuring training ROI is something you need in your arsenal.
Check out eLearning Industry's list of the top LMS software for measuring ROI for training:
- Test out LMS tools within a reasonable training budget
- Compare training solutions based on analytics and AI
- Examine must-have LMS features to measure training ROI
- Evaluate learning platforms and explore reviews on User Experience
- Choose the best LMS tool to achieve business goals
Best LMS Tools To Measure ROI For Training
If your company is listed among the Top LMS Software for Measuring Training ROI, feel free to add this badge to your website.
360Learning, the AI-powered collaborative learning platform, drives business impact and maximizes ROI. Empowering L&D teams to identify skills gaps, capture expert knowledge, and deliver timely learning experiences.
Improve your training ROI today!
For 360Learning reviews, make sure to visit our directory.
Highlights
- Powerful Automation
- Branded Academies
- Expert Enablement
Highlights
- Powerful Automation
Orchestrate compliance training end-to-end, with automated enrollment, reminder notifications, certificate expiration alerts, and comprehensive audit-proof reporting.
- Branded Academies
Launch dedicated, branded academies in minutes to capture all of your business's use cases, from customer and partner training to sales enablement to employee onboarding.
- Expert Enablement
Collaborate with internal SMEs to share knowledge and create relevant, impactful training.
Plans And Pricing
Maximize ROI with 360Learning's flexible pricing. Choose between pay-per-license or active user models to ensure you pay only for what you need.
Learning Manager is an AI-based gamified learning platform that integrates with core organizational systems and offers more than 300 reports to measure ROI.
Learn why Fortune 500 firms prefer to use Learning Manager to power up enterprise learning.
Remember to go through the submitted Adobe Learning Manager reviews for more info on the UX.
Highlights
- 300 Reports
- Enterprise Integrations
- Engagement Reports
Highlights
- 300 Reports
Learning Manager offers 300+ custom reporting options with automated reporting in place. This allows administrators to identify learning behavior and learner progress vis-a-vis their objectives.
- Enterprise Integrations
Several out-of-the-box integrations with Power BI, SFDC, AEM Sites, and others give Learning Manager an edge in capturing and visualizing reports from multiple sources.
- Engagement Reports
Engagement reports for gamification and social learning help identify the engagement scores of learners and conduct necessary interventions.
Plans And Pricing
Proven technology to identify and calculate training ROI for multiple use cases. Visit their website to learn more about the pricing options.
The Docebo Learning Platform centralizes learning analytics data into customers' existing BI and data ecosystem for a broader analysis perspective, faster insight discovery, and higher-quality decision making. This is your chance to prove that learning is a strategic investment.
Connect learning analytics to your business's data strategy.
Learn more at docebo.com.
Highlights
- Get The Best Out Of Your Data
- Centralize Your Data
- Use Learning Data To Grow Your Business
Highlights
- Get The Best Out Of Your Data
Docebo provides full access to your learning data; cleaned, organized, and ready to analyze. Safely streamline data collection processes, data integration, and expedite learning and business insights.
- Centralize Your Data
The team at Docebo enables delivery straight to your own data warehouse to be used with your existing BI tool, centralizing your data analysis and enabling you to explore learning insights and correlate learning data with other business analysis.
- Use Learning Data To Grow Your Business
Experience a tool that helps you combine your learning data with data from other enterprise systems and prove that learning is a strategic investment.
Plans And Pricing
The Learn Data module is available to Docebo Elevate customers for an added fee. Several of Docebo's largest and most complex customers leverage Learn Data to effectively measure the impact learning has on their business growth.
Why wait on training to prove its worth? TalentLMS gives you all the tools to set training up fast, track its progress, and welcome a positive return. Which is why 70,000+ world-leading teams trust growth on TalentLMS.
See a payback on training happen sooner rather than later. Start TalentLMS free; no credit card needed.
Don't forget to read the submitted TalentLMS reviews before you make your decision.
Highlights
- Easy To Set Up, Easy To Use
- Ensure Knowledge Transfer
- Generate Reports
Highlights
- Easy To Set Up, Easy To Use
ROI won't stall on the LMS that launches instantly. And, with an intuitive interface for all users, creating and engaging with training happens in a few clicks.
- Ensure Knowledge Transfer
Transform training from a rushed click-through exercise to a considered endeavor. Add in assessments so your learners engage with training and the knowledge sticks.
- Generate Reports
Measuring and proving ROI doesn't happen without data. But with TalentLMS's handy reports and dynamic dashboard, you won't have to crunch the numbers yourself.
Plans And Pricing
Start free, no credit card needed. Explore the platform and then upgrade across adaptable, published pricing. Or, if you're unfamiliar with LMSs, get a friendly guided tour from a TalentLMS expert.
iSpring Solutions is an eLearning software developer with over 59,000 clients in 170+ countries. The company specializes in creating advanced yet user-friendly tools that transform training with engaging, data-driven experiences.
Learn more about iSpring Learn and its vast capabilities for measuring and boosting your training ROI.
Highlights
- Detailed Training Analytics
- 360-Degree Performance Appraisal
- LMS And Authoring Tool Combo
Highlights
- Detailed Training Analytics
Track key training metrics, including learner engagement, completion rates, assessment scores, and progress. Adjust your training strategy accordingly to increase ROI.
- 360-Degree Performance Appraisal
Get a clear picture of the competencies of your employees based on comprehensive feedback. See if workers match their job requirements and which skills need improvement.
- LMS And Authoring Tool Combo
Create, launch, and deliver effective, data-driven training in-house with the powerful duo of iSpring Learn and the iSpring Suite course creation software.
Plans And Pricing
iSpring Learn offers adaptable pricing tailored to companies of all sizes. Choose a plan that aligns with your team's needs and desired capabilities. Starting at $2.29 per user per month, billed annually, it provides both flexibility and affordability.
At LearnUpon, they believe the results of your learning programs matter most. Working together, your team and theirs will create a personalized strategy with one goal: achieving your vision of long-term success.
Do you want to learn more? Get started with LearnUpon's results-focused LMS.
Make sure to visit our directory and explore LearnUpon LMS reviews.
Highlights
- Get Business Critical Insights
- Robust Integrations
- Better Team Collaboration
Highlights
- Get Business Critical Insights
Monitor user progression, exam outcomes, survey feedback, and training histories. Access both basic and advanced reports, empowering you to create tailored, business-critical insights.
- Robust Integrations
Connect learning data to external systems for a comprehensive data story, leveraging prebuilt integrations and using API and webhooks to merge data with external BI and visualization platforms.
- Better Team Collaboration
Collaborate with your Customer Success team on a results strategy that establishes a logical bridge between learning data and organizational objectives, and measures ongoing success.
Plans And Pricing
The team at LearnUpon works closely with you to align learning objectives with overarching business goals. Through a personalized results strategy, they help you measure the direct impact of learning initiatives on Key Performance Indicators and, in turn, demonstrate ROI.
With Schoox, discover how learning impacts business outcomes with dashboards that correlate training metrics to organizational performance, as well as provide at-a-glance visibility that's easy to understand.
See how Schoox goes beyond basic reporting and enables admins to track and analyze KPIs that measure the business impact of learning.
Want to learn more? Feel free to visit our directory to read Schoox LMS reviews by real users.
Highlights
- See The Impact Of Learning
- Track The KPIs That Matter
- Share Insights
Highlights
- See The Impact Of Learning
Measure the impact training has on the business KPIs that matter most while also analyzing KPI data to uncover training gaps and opportunities.
- Track The KPIs That Matter
Easily set up KPIs by importing data or integrating with third-party apps and see how metrics like completions and scores fuel business performance.
- Share Insights
Make reporting easy with prebuilt reports and dashboards or take your analysis up a notch and build your own reports to uncover and share learning insights with stakeholders.
Plans And Pricing
Schoox has everything you need to take action on learning and training insights that can help you make smarter decisions and drive business outcomes. Take advantage of one of the industry's best business impact tools that is built right into the LMS for no additional cost.
Are you ready to create better learning experiences with ELB Learning? Rockstar Learning Platform is a tool that empowers you to assess learners and prove proficiency fast. This is a comprehensive product suite for those who want to achieve training goals. Their services are exceptional and include an LMS offering.
Get a free account or schedule a demo at elblearning.com.
Read Rockstar Learning Platform reviews in our directory.
Highlights
- Measure
- Microlearning Module Builder
- Easy Management
Highlights
- Measure
Test for proficiency with in-line questioning, surveys, and more. Track performance and give credit for activities. Choose from multiple reporting options; export data for further analysis.
- Microlearning Module Builder
Developing employees and offering product training is easier than ever. Plus, you can create microlearning on the fly! All done right inside the platform.
- Easy Management
Your learners can enjoy training via desktops, tablets, and mobile devices. Publish as you please and automate enrollments. You can even set recurring training! No more missed dates for compliance and certifications. Single sign-on is available, too.
Plans And Pricing
You can scale the Rockstar Learning Platform and make it accommodate organizations of any size. Even for large enterprises, you'll have no problem training your teams globally. What I like about its pricing plans is the fact that it is based on learner and admin count. And, if you want more, you can upgrade it with authoring tools, courseware, and data migration.
Top List Ranking: eLearning Industry's LMS Selection Criteria
Globally recognized LMS experts, including C. Pappas and our editorial team, did a thorough review of each vendor's eligibility and relevant published content (articles, eBooks, webinars). Our committee ranked the best LMS software for measuring training ROI based on the following nine criteria:
- Customer support
- Customer experience
- Software features
- Software innovation
- Customer reviews
- Economic growth potential
- Company's customer retention
- Employee turnover
- Company's social responsibility
Now that you've seen the list rankings of this top list, it's time to get a little deeper. Remember to go through our tips and insights to make the best LMS decision and measure ROI for training effectively.
Benefits Of Measuring ROI For Training With An LMS
So, how do you measure ROI for training?
Once you have your training in place, you must use the right tool to get as much hard data as you can to showcase the impact of the training. By demonstrating how worthwhile investment training is, you can get buy-in for future projects. What you need to do is prove your training ROI. That way, you'll be able to shift the C-suite's mindset about training initiatives.
An LMS can help you calculate the ROI of training and make the process less complicated. By using the right tool for calculating training ROI, you can:
- Measure training effectiveness
- Identify the economic impact of your training courses
- Justify your training budget
- Improve your training courses and initiatives
- Increase your credibility and professionalism
- Impact the bottom line of your business
An LMS tool with reporting and analytics capabilities is an excellent way to measure training program ROI. Focus on understanding learning effectiveness, job impact, and business outcomes. However, it's not just about measuring the impact on performance. You also have to isolate the effects of training. For that, you might have to create a control group to observe specific KPIs between the trained and untrained groups.
Also, you might like to opt for an expert estimation by getting feedback from participants and supervisors. Of course, another handy tactic is to use a trend analysis to see what changed before and post training. To understand pure business impact, you've got to get solid business results like more sales, lower turnover, and fewer customer complaints.
An LMS with reporting and analytics is a legit way to show your leadership solid return; After this, you'll get them to start looking at your training program differently.
Do you want to shift their mindset and convince them to consider training as a valuable asset for the business? My advice is to plan for the outcomes you want beforehand and use a credible standard to convert your results into a dollar amount with the ideal LMS.
Next Steps: LMS Comparison And Evaluation For Measuring Training ROI
By now, you know that training is extremely valuable for your employees. In fact, according to a study by Accenture, for every dollar spent on training, you get a $4.53 return. In terms of ROI, that equals 353%!
But getting buy-in from your leaders sometimes is a hurdle because most of them tend to think that training is just an expensive luxury, which is not the case at all.
Trust me; having the right tool for the job is key. And an LMS that has excellent reporting and analytics capabilities can simplify things when you want to prove your training initiatives are working.
Still wondering how to measure ROI for training with an LMS? Give it a go and try one of the best LMS tools on this top list.
And if you still can't decide, feel free to visit our directory to compare the best LMS tools!
