Business

How To Solve Training Effectiveness Problems With LMS?

Published

2 years ago

December 19, 2022

Every organization’s main aim while allocating training resources is to find ways to increase the training program’s effectiveness. A training program that is optimized to save time and effort for both the learner and the executives while delivering its learning objectives is the ideal deal.

Despite being vigilant about all the issues, many organizations find their training programs ineffective in enhancing employee performance. This usually happens due to common yet important issues with training and development.

For most issues, though, what works best is an effective LMS loaded with superior features and the latest techniques to overcome each one. The ease with which your staff can access LMS training enhances employee performance and saves time and effort.

In this article, we will be looking at common challenges that hamper the effectiveness of your training module and how an LMS can help trounce them.

Challenge 1: Tight Employee Schedule

Juggling between work, family life, and other responsibilities consumes most of the employees’ day. Adding to it, the pressure of training can worsen the problem even more.

Solution:

Consider communicating key concepts with attractive and exciting graphics. You can use infographics, GIFs, or short videos to catch their attention. Give them a break from reading boring text that infuses boredom in any program.
Include short and straightforward assessments whenever possible. This will give them a chance to evaluate their learning progress better.
Make the training format mobile-friendly. This allows them to learn anywhere they wish to and helps save time. It also makes the training much more convenient.
Use a micro-learning approach to deliver content in a crisp manner. Bite-sized chunks make the training content easier to consume.

Challenge 2: Geographically Dispersed Workforce

With the increase in the remote work culture, many organizations find it challenging to create a training module that can uniquely cater to each employee’s diverse needs. With a geographically dispersed workforce, chances of misunderstandings and cultural differences rise, which leads to inconsistencies in training.

Solution:

Incorporating social tools to unify the dispersed team is a great way to impart training. Video conferences, webinars, and online forums are great options to initiate communication and foster trust and empathy between team members all across the globe.
Set clear training goals right from the beginning. This enables the team members to know what exactly is expected of them during the training and how this module will benefit them improve their performance.

Challenge 3: Irrelevant Training Material

Many organizations make the mistake of making the training program too generic. The information doesn’t cater to any specific role and skills. Generic information tests the learner’s time and patience by forcing them to associate with content that simply isn’t relevant to them.

Solution:

Categorize the training material into specific and non-specific categories. Include features like gamification to let the learners engage with non-specific but essential training content. Add features like rewards, badges, and points to encourage learners to follow the training pattern efficiently.
Keep the training material up-to-date—update skills and information to keep the material relevant at all times.
Use relatable case studies and scenarios to increase engagement and relevance.

Challenge 4: Exorbitant Training Budgets

Conducting training is an expensive affair. From booking a venue to hiring an instructor to travel costs, it requires the organization to shed a lot of money.

Solution:

Switch to the online mode of training. You can train a large number of employees despite being on a tight budget.
Switch from face-to-face seminars to webinars. This will limit the travel cost and help save time as well.

Challenge 5: Poor Engagement

Employee engagement is crucial for any training to be a success, be it cognitive, emotional, or behavioural. Lack of engagement, passive learning, and poor knowledge retention leads to many training and development challenges.

When training feels unnecessary, engagement drops, leading to poor knowledge retention.

Solution:

Use discussion forums and create spaces for learners to engage and communicate. This encourages them to connect emotionally with other learners and thus increases engagement.
Use case studies, relevant scenarios, and role play to incorporate practical learning. This enhances their cognitive engagement and prevents boredom.

Conclusion

To create an excellent learning culture, adopting ways to make the training as engaging as possible is essential.

Investing in an LMS empowers organizations to improve training effectiveness by providing solutions to every challenge.

It will create an environment where employees will be engaged in their training and will also be up-to-date with important information, which will lead to their healthy growth, and as the employees grow, so will you.

Business

Canada Goose to get into eyewear through deal with Marchon

Published

4 hours ago

September 19, 2024

Anne Joseph

TORONTO – Canada Goose Holdings Inc. says it has signed a deal that will result in the creation of its first eyewear collection.

The deal announced on Thursday by the Toronto-based luxury apparel company comes in the form of an exclusive, long-term global licensing agreement with Marchon Eyewear Inc.

The terms and value of the agreement were not disclosed, but Marchon produces eyewear for brands including Lacoste, Nike, Calvin Klein, Ferragamo, Longchamp and Zeiss.

Marchon plans to roll out both sunglasses and optical wear under the Canada Goose name next spring, starting in North America.

Canada Goose says the eyewear will be sold through optical retailers, department stores, Canada Goose shops and its website.

Canada Goose CEO Dani Reiss told The Canadian Press in August that he envisioned his company eventually expanding into eyewear and luggage.

This report by The Canadian Press was first published Sept. 19, 2024.

Companies in this story: (TSX:GOOS)

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Business

A timeline of events in the bread price-fixing scandal

Published

6 hours ago

September 19, 2024

Anne Joseph

Almost seven years since news broke of an alleged conspiracy to fix the price of packaged bread across Canada, the saga isn’t over: the Competition Bureau continues to investigate the companies that may have been involved, and two class-action lawsuits continue to work their way through the courts.

Here’s a timeline of key events in the bread price-fixing case.

Oct. 31, 2017: The Competition Bureau says it’s investigating allegations of bread price-fixing and that it was granted search warrants in the case. Several grocers confirm they are co-operating in the probe.

Dec. 19, 2017: Loblaw and George Weston say they participated in an “industry-wide price-fixing arrangement” to raise the price of packaged bread. The companies say they have been co-operating in the Competition Bureau’s investigation since March 2015, when they self-reported to the bureau upon discovering anti-competitive behaviour, and are receiving immunity from prosecution. They announce they are offering $25 gift cards to customers amid the ongoing investigation into alleged bread price-fixing.

Jan. 31, 2018: In court documents, the Competition Bureau says at least $1.50 was added to the price of a loaf of bread between about 2001 and 2016.

Dec. 20, 2019: A class-action lawsuit in a Quebec court against multiple grocers and food companies is certified against a number of companies allegedly involved in bread price-fixing, including Loblaw, George Weston, Metro, Sobeys, Walmart Canada, Canada Bread and Giant Tiger (which have all denied involvement, except for Loblaw and George Weston, which later settled with the plaintiffs).

Dec. 31, 2021: A class-action lawsuit in an Ontario court covering all Canadian residents except those in Quebec who bought packaged bread from a company named in the suit is certified against roughly the same group of companies.

June 21, 2023: Bakery giant Canada Bread Co. is fined $50 million after pleading guilty to four counts of price-fixing under the Competition Act as part of the Competition Bureau’s ongoing investigation.

Oct. 25 2023: Canada Bread files a statement of defence in the Ontario class action denying participating in the alleged conspiracy and saying any anti-competitive behaviour it participated in was at the direction and to the benefit of its then-majority owner Maple Leaf Foods, which is not a defendant in the case (neither is its current owner Grupo Bimbo). Maple Leaf calls Canada Bread’s accusations “baseless.”

Dec. 20, 2023: Metro files new documents in the Ontario class action accusing Loblaw and its parent company George Weston of conspiring to implicate it in the alleged scheme, denying involvement. Sobeys has made a similar claim. The two companies deny the allegations.

July 25, 2024: Loblaw and George Weston say they agreed to pay a combined $500 million to settle both the Ontario and Quebec class-action lawsuits. Loblaw’s share of the settlement includes a $96-million credit for the gift cards it gave out years earlier.

Sept. 12, 2024: Canada Bread files new documents in Ontario court as part of the class action, claiming Maple Leaf used it as a “shield” to avoid liability in the alleged scheme. Maple Leaf was a majority shareholder of Canada Bread until 2014, and the company claims it’s liable for any price-fixing activity. Maple Leaf refutes the claims.

This report by The Canadian Press was first published Sept. 19, 2024.

Companies in this story: (TSX:L, TSX:MFI, TSX:MRU, TSX:EMP.A, TSX:WN)

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Business

TD CEO to retire next year, takes responsibility for money laundering failures

Published

9 hours ago

September 19, 2024

Anne Joseph

TORONTO – TD Bank Group, which is mired in a money laundering scandal in the U.S., says chief executive Bharat Masrani will retire next year.

Masrani, who will retire officially on April 10, 2025, says the bank’s, “anti-money laundering challenges,” took place on his watch and he takes full responsibility.

The bank named Raymond Chun, TD’s group head, Canadian personal banking, as his successor.

As part of a transition plan, Chun will become chief operating officer on Nov. 1 before taking over the top job when Masrani steps down at the bank’s annual meeting next year.

TD also announced that Riaz Ahmed, group head, wholesale banking and president and CEO of TD Securities, will retire at the end of January 2025.

TD has taken billions in charges related to ongoing U.S. investigations into the failure of its anti-money laundering program.

This report by The Canadian Press was first published Sept. 19, 2024.

Companies in this story: (TSX:TD)

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