lms.skillfactory Introductionlms.skillfactory Introduction

lms.skillfactory: Finding qualified candidates is becoming increasingly complex, and the outlook is that this will continue to be a significant problem for manufacturers. The cost to a business is high as positions remain vacant and recruitment time and expense continue to rise. A learning management system (LMS) help human resource managers retain and expand the skilled workforce to accomplish something.

  • Consider statistics from Deloitte Consulting LLP and the Institute of Manufacturing in their report The Skills Gap in U.S. Manufacturing 2015 – 2025.
  • It takes more than 90 days to hire a new skilled worker
  • Six out of ten open professional production positions are currently vacant
  • By 2025, more than 2 million jobs will go unfilled as the shortage of skilled workers worsens as baby boomers retire.
  • 82% of manufacturing executives say that shortages will negatively affect the ability to meet customer demands, innovate and grow.

94% of executives believed the most effective response is internal employee training and development.

Features of lms.skillfactoryFeatures of lms.skillfactory

A learning management system (LMS) is a solution to help overworked HR staff to train and grow workers.

  1. Further, In addition to providing a training platform to develop employee skills, an LMS can automate the administration, tracking, and reporting of training and compliance certification. Some of the top reasons an LMS can help include:
  2. A standardized onboarding program ensures that new hires are oriented, trained and engaged. According to a 2018 Jobvite study, 30% of workers quit within the first 90 days. Compare that to less than 10% if the company has a well-structured onboarding program. An LMS can help ensure new hires have the information and skills to succeed.
  3. Building a strong learning culture increases worker productivity and retention. Companies that develop this type of culture have 30-50% higher engagement and retention rates than those that don’t. (David Mallon, Deloitte)
  4. Successful managers build successful teams. Manufacturers often place too little emphasis on training supervisors, even though the quality of the boss is a critical factor in both performance and worker retention. An LMS can help you identify and train new supervisors to increase productivity and reduce liability.
  5. Please provide the information and training workers when and how they need it. An LMS makes you and your employees more efficient. According to a study by Brandon Hall, online learning requires 40-60% less work time compared to a traditional classroom environment, and knowledge retention rates are higher.

lms.skillfactory Strategy

Your best strategy is to engage and grow your existing workforce.

The manufacturing skills gap will only grow, as will the competition for skilled workers. Your best strategy is to engage and grow your current workforce, new hires, and supervisors with a comprehensive learning and development program that is managed and tracked by robust learning management software.

And as Propel points out in its article Bridging the Manufacturing Skills Gap, never overlook your current workforce as an efficient and cost-effective way to develop needed skills.

Prosperity LMS is with the needs of manufacturers in mind, and our US-based team has the industry experience to make your training a success. Use our calendar to schedule a short consultation or ask us a question.

And if you already have an LMS but are still struggling to track employee skills and competencies, check out Skills Mark. Prosperity Skills Mark is a simple, straightforward solution for monitoring and reporting on professional training and employee skills and abilities.

lms.skillfactory News – SkillFactory joins Skillbox Holding Limited

On October 05, 2021. Mail.ru Group Limited (“Mail.ru Group”) announce the merger of the educational platform SkillFactory with Skillbox and GeekBrains. With SkillFactory joining Skillbox Holding Limited, which already brings together Skillbox and GeekBrains, the consolidated company will be even stronger in the Russian online education market.

Skillbox has taken a stake in the online training platform SkillFactory. Before the deal, Mail.ru Group took a minority stake of 18.31% in SkillFaсtory and an option to purchase additional shares with a plan to use them in the second half of 2021. After all transactions (including the chance), Skillbox will have a majority stake in the service – 61.8%. SkillFactory’s founders and senior management remain minority shareholders.

As a result, SkillFactory will be part of the company, which already brings together the Skillbox and GeekBrains platforms. Over 1,000 courses in dozens of varied fields are already available to users, and with the addition of SkillFactory, the choice will be even more comprehensive. It will be the next step in implementing the strategy of the integrate company – to become a leader in the Russian online education market.

lms.skillfactory Focus

SkillFactory focuses on the vocational training and higher education segments. And also, the service include an online school for specialists working with data and IT products and a content design platform for creatives, Zavtra. Online distance learning programs and a Product LIVE school for product management. Besides, the total number of students in all SkllFactory courses exceeds 100,000 people. The company’s revenue grew 3.4 times year on year and reached 638 million rubles in the Year 2020.

SkillFactory continue to develop educational projects under its current brand. SkillFactory co-founder and CEO Alexander Eroshkin will lead the company and also other co-founder.

They say, “Our goal is to help 10 million people learn a variety of skills by 2023 by all of our ongoing educational projects and initiatives. The merger of SkillFactory with a company that already includes GeekBrains and Skillbox is an essential step in this direction. And also, the VK ecosystem brings together educational projects for people of different ages; SkillFactory strengthen the segment of adults who want to get or change their profession, “said Mail.ru Group CEO Boris Dobrodeev.

Conclusion:

lms.skillfactory: “SkillFactory is showing good results and has an excellent team. Business and methodology are different from ours, and for Skillbox, it is important to bring together the best market experience within the holding company. We are satisfied with this agreement.  We will enrich each other and become stronger,” said Dmitry Krutov, CEO and Founder of Skill box.

And also, “We are excited to join the biggest and strongest player in the online education market. Together, we grow faster and become even more efficient than each company individually,” said Alexander Eroshkin, CEO of SkillFactory.

Helpful Resource: KSM USD Calculator

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