Why Employee Learning Management is for Companies of All Sizes

It’s an odd fact that small to mid-sized property management companies are less likely to use a formal learning management system (LMS) than are larger companies. Just as with larger businesses, employees are their most expensive and valuable asset, and arming them with both industry knowledge and job-specific training is critical to having them achieve their full potential. A good LMS pays for itself many times over in employee job performance – something larger companies have known for years. So why the hesitance on the part of smaller companies? It’s primarily due to the perception that the benefits for a smaller property management company don’t justify the expense – a complete myth. The reality is that pricing for some solutions, such as RealPage’s EasyLMS, is adjusted for company size (units under management). And unlike in the old days, smaller companies are not forced to pay for more functionality than they need in a “one size fits all” solution. But beyond this, there’s a sense among some smaller property managers that they can simply “wing it” when it comes to learning – imparting skills and knowledge employee-to-employee, or calling in outside consultants to handle certain training needs. Not only does this result in spotty learning, lower productivity, on-the-job errors and career limitations, it can easily cost more in the long run in both hard and soft costs. Without a learning management system, training materials tend to reside in online files or plastic binders, dispersed throughout the organization. Or, required learning may simply exist as tribal knowledge among key employees. There’s no centralized place to access learning, no way for managers to keep track of who is learning what, and no opportunity for employees to chart a course towards more responsibilities and promotions. When it comes to industry and legal knowledge, many smaller companies call in an attorney...