Change is the nature of the game in business. And, sometimes that means acquiring another company in order to stimulate growth and gain a competitive advantage.
In theory it seems like a fairly straightforward process but the reality is that the transition is not always smooth.
In fact, it can be downright stressful. And, sometimes not on the best of terms.
When your company takes over a business this means that you have to accommodate for a substantial increase in employees in addition to the need to be flexible when imposing all new decisions on staffing, training, structure, resources etc.
These abrupt changes can cause mistrust and nervousness among employees. They might feel a little lost or frustrated in the transition, leading to disruptions and downtime.
And, downtime results in lost sales.
When change happens you don’t get a free pass to slack off until you get your business in order. Customers expect high quality service despite company changes.
To meet these expectations employees must be trained as quickly and efficiently as possible. And, your LMS better be able to keep up, otherwise face major consequences.
So, What LMS Features Help with Scalability during an Acquisition?
During an acquisition there are a lot of things that need to come together. And, unfortunately, many acquisitions fail because their technologies cannot integrate properly. An LMS can alleviate a lot of those problems when it can ‘play nice’ with existing technology and processes…and at scale.
Data is an essential tool that can be incredibly helpful during adjustments within a company. Job roles will change or shift and the LMS should be able to quickly and easily assign the right learning plans accordingly. Not to mention, it should be able to assess current skills gaps so you can make strategic shifts to your workforce.
The last thing you want during an acquisition is to have productivity go down. Chances are there will be more work and chaos during the transition so an LMS that can take some things off your plate in automation will help keep things moving along.
Can the LMS allow more than just the administrator to access the LMS and create reports etc.? During times of change it’s very helpful for the LMS to give access to those who need it, especially when there is a lot going on.
5. Onboarding and Retraining. During transition, there’s an influx of new employees that need to be trained as well as current employees that might also need to be re-trained. Your LMS should be able to handle a large amount of employees accessing the system. And, it also should seamlessly handle a variety of training needs and be available where they are – in the field, in the office, at home, in another region.
The Selection Process
There are a lot of pressures and expectations when selecting an LMS.
It needs to meet your specific training goals, stay within budget, and grow with your business.
And, when those things happen there is also an expectation that as a result of training it will transcend into increased sales and productivity.
No pressure, right?
These requirements, in and of itself, will dictate how you choose an LMS. But, if you know that a company acquisition is part of your business’ current or future strategy, be sure to also take that into consideration when selecting an LMS.
Not every system scales well nor integrates with external systems. While integrating two or more LMS' will require specialized attention at the time, anticipating the issues and planning accordingly can do a lot to support a smooth transition and provide initial training and onboarding right away to the inherited work force.
As a result of strategic LMS planning, there will be as little disruption as possible so employees will stay focused, engaged and equip your organization with the skills for success.
When all components go well during an acquisition, like training, your business will reap the benefits of,
- Gaining a competitive edge
- Increasing proficiency
- Diversifying business processes
- Cutting redundant operation costs
- Surviving ever-changing markets
- Acquiring skills and technology
No matter whether your business growth comes from within or via an acquisition, your LMS and its capabilities should be able to handle the task no matter how complicated it is. Because, when the LMS is doing its job, you’re free to pursue the things that drive the business forward in order to accomplish your goals and objectives.
ShareKnowledge is a good choice for those who want and need a scalable LMS. Built exclusively for the corporate environment, ShareKnowledge handles with ease all the requirements of complex business and training processes. If you would like more information about how ShareKnowledge can solve your training needs, please fill out the form.