Since the pandemic, the business landscape has been facing one hurdle after the other—economic instability, skills shortages, the Great Resignation, and Industry 4.0, among others. Big companies have also been impacted, and organizations are scrambling to adapt and push through. One of the best strategies recommended by business experts is investing in the best enterprise learning management system (LMS) for employee training initiatives.
The American Upskilling Study from Gallup presents that 65% of American workers place importance on upskilling when evaluating new job prospects while 48% of workers would switch to a new job that offers skills training opportunities (Gallup, 2021). One of the benefits of learning management system products is they give learning and development (L&D) departments the ability to create customized, relevant, and engaging training programs to attract the right kind of talent.
Our research team looked into the current industry trends and reports to find which enterprise LMS software providers offer the best features and results for big businesses and their L&D programs. This guide also provides insight into the importance of learning and development tools in today’s workforce.
In recent years, business and academic institutions have been relying more on online learning platforms for their training and education programs. As a result, there has been exponential growth in the educational and enterprise learning management system market. The global LMS market was valued at $18.26 billion in 2023 and is predicted to reach $47.47 billion by 2030. It is projected to have a compound annual growth rate (CAGR) of 14.6% during the same forecast period (Fortune Business Insights, 2023).
The contributing factors to the rapid growth of LMS include the increasing demand for interactive and smart learning platforms, the transition to remote or hybrid work, and the fast adoption of online training and education during and even after COVID-19. Another contributor is the investment of organizations in virtual training technologies such as corporate learning management systems, also known as enterprise LMS.
The Statista Research Department (Statista, 2022) reports that 89% of companies in the training industry were using an LMS in 2022 and that this was the top technology employed by organizations. LMS was followed by virtual classrooms/webcasting/video broadcasting (86%), rapid E-learning tools (40%), mobile applications (36%), and then a tie between application simulation tools and learning content management systems (LCMSs) (28%) (Statista, 2022).
Source: Statista, 2022
Training magazine’s 2022 Training Industry Report shows that 81% of companies handled their LMS administration in-house, and 30% mostly or completely outsourced their LMS hosting/operations. It also presents that organizations spend an average of 16% of their budget on learning tools and technologies. This amounted to an average of $382,729 in 2022 compared to $337,190 in 2021 (Training, 2022).
The report also includes data on the total training expenditures for U.S.-based institutions with 100 or more employees. The total amounted to $101.6 billion in 2022 showing a 10% increase from the previous year. For large companies, the average training budget was $19.2 million (Training, 2022).
The data indicate that organizations are willing to spend more on essential training skills and tools including enterprise learning management system products. This could be in response to employees expressing their interest in having jobs and careers that keep them engaged and promote a culture of learning. More human resource (HR) and learning and development departments in companies are also pushing for better and smarter training initiatives.
The Society for Human Resource Management (SHRM) and TalentLMS conducted a survey in early 2022 for their Workplace Learning & Development Trends report. The research presents significant data on the opinions of employees on the current workplace L&D initiatives provided by employers:
The authors of the report highlight that the data they gathered determines that “organizations should understand and attempt to meet the training needs and desires of their workforce with respect to the content, timing and delivery of training. L&D initiatives should be aligned with both employees’ personal goals and the organization’s business goals (SHRM, 2022).”
The report shows that the most common types of training employees receive at work are for compliance (70%), soft skills (51%), upskilling (50%), product training (39%), onboarding (36%), and reskilling (36%) (SHRM, 2022).
Source: Society for Human Resource Management, 2022
The corporate training market is thriving as more organizations realize the important role of L&D initiatives in keeping a business resilient, agile, and progressive. Research and Markets predicts a CAGR of 4.8% from 2023 to 2027 for the global corporate training market. This sector is currently valued at $380.7 billion and is expected to grow to $460.04 billion in the next four years (Research and Markets, 2023).
Alongside the growth of the corporate training industry is the increased demand for L&D technology and tools, including corporate learning management systems. The global corporate LMS market was valued at $8.1 billion in 2022 and is expected to reach $21.1 billion by 2027 at a CAGR of 21.1% in the same forecast period (Research and Markets, 2022).
Service providers for enterprise learning management system products are taking advantage of this growing demand and are offering a variety of solutions to meet the ever-evolving needs of large businesses. With a variety of options available on the market, L&D departments are at an advantage and have better chances of finding a product that easily integrates with their existing applications and technology and quickly adapts to meet employees’ changing requirements for training.
Based on our team’s research, experts in the L&D industry recommend that organizations must continue to adapt to trends and take advantage of new and improved onboarding and training programs, software tools, digital processes, and delivery methods to accommodate a hybrid workplace and a workforce that is eager for career learning and development. Of course, that includes keeping up with updates in best practices for onboarding and training. Here are some of the trends to look out for:
Workers also want to have more flexibility in accessing corporate training materials through mobile and other personal devices.
An effective LMS platform should make it easy for organizations to create individualized and personalized training tools, including an employee training plan template. It should help with the creation of content so that each employee can learn at a rate, schedule, and mode that is ideal for them and, as a result, apply new knowledge and skills more effectively.
Source: Society for Human Resource Management, 2022
Training industry experts also recommend using technology and tools that track how each employee is progressing with their L&D program and goals. No matter how cutting-edge or beautifully presented a corporate LMS platform is, the real test of its effectiveness is the output of your workers who use it when they undergo training. L&D departments should know the best ways to track employee training progress and create a more proactive approach for employees to know how they are progressing.
Certain enterprise training platforms and tools have the capacity to create a skills matrix with multi-level systems for credentials for different roles. As employees scale up the skills and credentials ladder, organizations can reward their workers with financial or non-financial incentives to keep them motivated and engaged. The 2023 Workplace Learning Report from LinkedIn highlights that 75% of employees who have experienced an internal move within two years of being with their current company are more likely to stay with their employer. Comparatively, only 56% of those who have not experienced an internal move within two years with their current organization say they may continue to work there (LinkedIn, 2023).
Large-scale organizations will naturally want the best enterprise LMS product, but, with so many options available today, choosing the right one can be tricky. Our team at Research.com looked at credible datasets and reliable industry sources to find which LMS products tick the boxes for enterprises that want to maximize and improve their L&D initiatives with the best training tools and technology available in the market. To come up with this list, we considered the trends discussed above and reports from market experts, as well as the features, delivery format, pricing, ease of use, and other key indicators that LMS service providers currently offer.
Absorb LMS is an award-winning enterprise LMS that offers a unified platform to address all types of learners, including employees, partners, and customers. This cloud based learning management system boasts an intuitive and user-friendly design for administrators and learners and easy integration with other business systems and tools. This LMS offers the latest technologies to deliver a more personalized, easily scalable, and quickly adaptable system, and it even has an eCommerce module that makes it easy for your organization to sell online courses.
Absorb LMS Key Features:
Absorb LMS offers flexible pricing options and provides a quote and demo.
iSpring Learn is an enterprise learning platform that provides a simple solution to launching corporate eLearning initiatives in just one day. It is ideal for those who prefer a no-fuss training platform that does not require highly technical know-how and skills. You can manage all your training content and tools on the web and distribute them across mobile devices and even allow offline access. iSpring also offers on-premise installation, live tech support, and custom application programming interface (API) integrations.
iSpring Learn Key Features:
Choose from fixed-price monthly plans for per-user packages beginning at $2.99 per user/month. iSpring Learn also offers customizable plans, a 30-day free trial, and bookings for an LMS demo.
Docebo is an AI-powered enterprise learning management system that offers a complete learning and development suite. This LMS is available in over 40 languages and allows better customization and flexibility with its 400-plus integration solutions including Asana, Google Drive, Salesforce, Shopify, and Zendesk. It also has a content library with ready-to-share training materials that cover a variety of topics, such as time management, leadership, and advertising. You can also create your own training content in a matter of minutes using the Shape AI-based tool.
Docebo Key Features:
You can book a demo and request a quote from Docebo representatives.
SAP Litmos was formerly owned by software vendor SAP SE and was bought by Francisco Partners in December 2022. Otherwise known as just Litmos, this cloud-based enterprise LMS is known for its functionality and intuitive interface and has won several industry awards. It is ideal for organizations that want a powerful learning management system platform that is easy to manage, streamline, scale, customize, integrate, and implement. You can also access more than 2,500 videos and courses in the Litmos training content library.
SAP Litmos Key Features:
You can request a quote, demo, or a 14-day free trial from Litmos representatives.
TalentLMS is a lean and scalable enterprise learning management system that is ideal for on-site or remote training. It is a simple platform that allows organizations to quickly create eLearning courses and training programs that can be personalized, gamified, and distributed on different devices. You can also build surveys, quizzes, tests, and assignments for learning evaluation and create custom certificates to acknowledge individual or team accomplishments. TalentLMS supports over 30 languages and lets you set permissions and roles for each user.
TalentLMS Key Features:
You can start with a forever-free plan and scale up to one of the package plans starting at $69 per month for up to 40 users.
360Learning claims to be the pioneer for collaborative learning in the enterprise learning management system market. The platform is targeting organizations that want to upskill from within and believe in empowering their learners to also become teachers and vice versa so everyone can work together in sharing and capturing knowledge. You can set up and launch eLearning courses in a matter of minutes. It also allows you to quickly identify what sort of training your employees need in real-time through in-course commenting, upvoting, learner relevance scoring, and threaded Q&As.
360Learning Key Features:
360Learning offers a 30-day free trial. You can also book a demo or request a preview of the product. The out-of-box LMS for collaborative learning comes at $8 per month for up to 100 users.
Moodle LMS is an off-the-shelf enterprise learning management system solution from the popular open-source learning platform Moodle. It is a fully customizable online LMS that encourages a more active learning experience. You can translate content into one or several of the 140-plus supported languages. The mobile learning feature provides access to content on the go so learners can do assignments and activities from anywhere and even offline. The platform also allows for collaborative learning and the streamlining of training materials and tasks.
Moodle LMS Key Features:
You can get a 45-day free trial for the off-the-shelf hosted Moodle LMS plan and eventually sign up for a paid plan starting at $110 a year for 50 users and 250 MB storage. You can also request a quote for their premium hosting solutions.
SkyPrep LMS is online corporate LMS software that helps to automate employee and customer training, speed up employee onboarding, improve reporting, and digitize and improve L&D course deployment. One of the features that make this product stand out is its multi-tenant LMS which allows organizations to create separate customized platforms for different clients and brands under one account. You are still able to share content and courses between all your sub-platforms yet maintain a more personalized experience for each user.
SkyPrep LMS Key Features:
SkyPrep offers a free 14-day trial. You can get in touch with their representatives to know the prices of their product package plans.
BrainCert Enterprise LMS touts an all-in-one training platform with complete white-label solutions for custom branding. This enterprise learning management system product is known for its award-winning intuitive and easy-to-use Virtual Classroom that is integrated with the Unified Training Platform. It uses BrainCert's Software-Defined Smart WebRTC Network (SD-SWN™), and BrainCert claims this offers the lowest latency, stable connectivity, high availability, and a guaranteed uptime of 99.995%. It also employs Simulcast, which provides adaptive casting capabilities and produces high-quality video streams.
BrainCert Enterprise LMS Key Features:
The Unified Training Platform package plans for small, medium, and large enterprises begin at a monthly rate of $139 for annual billing and $169 per-month billing. You can also try the 14-day free trial or request a demo.
GoSkills is an online learning platform offering a lightweight enterprise LMS software product that caters especially to small and medium-sized businesses. It does not require large setup fees, lengthy contracts, or high minimum user numbers. It offers full access to all of its enterprise-level features no matter the size of your organization, and the cloud-based platform means learners have more flexibility in completing their training on multiple devices. You also get social learning solutions, access to off-the-shelf courses, custom content design, gamification features, and reward systems.
GoSkills Key Features:
GoSkills offers several product package plans beginning at around $8 per month for a maximum of 5 learners. You can also contact GoSkills representatives to request a demo and a quote for custom plans.
The ‘future of work’ is happening here and now. Organizations must adapt quickly to workforce demands and trends or lose out to more progressive competitors. This means L&D executives should be more aggressive in showing their company leaders the value of investing in the best LMS for employee training. Yet, even with more limited resources, training programs can still succeed with the right learning management systems.
An organization’s learning and development team has to understand and determine its training goals before looking for the best corporate LMS that meets its requirements. A vital step in this process is listening to your learners. After all, the success and outcomes of your L&D initiatives rely on how your employees respond, adapt to, and retain training information.
As your learners’ needs and expectations change, so must your training strategies. Whether you're considering self hosted LMS or otherwise, the right one for your organization can make the transition easier and faster without requiring too many additional resources.