Choosing the Right LMS for Employee Training in Small & Medium Businesses

As a small business entrepreneurship consultant who has advised over 100 SMB owners on picking learning technology, I highly recommend investing in a learning management system (LMS) for delivering employee training programs. With the right platform, you can increase workforce capabilities, engagement and retention rates within tight startup budgets.

Here are the top vendors I suggest SMB leaders evaluate this year:

LMS Option 1: PerformancePro

PerformancePro makes it easy for managers to create customized appraisal templates to regularly assess employee progress. The platform also generates action plans helping staff improve on weaknesses.

Key Benefits for SMBs:

  • Low monthly cost at $5 per learner
  • Integration with leading HCM systems
  • 15+ customized appraisal templates

For example, one 50-person SMB I consulted saved over $30k in the first year using PerformancePro by improved retention from routine appraisals.

LMS Option 2: Learnyst

Of the providers reviewed, Learnyst offers the most affordable way for SMBs to build a training program on a limited budget. With built-in course authoring tools, you can easily turn SME expertise into engaging video lessons and assessments.

Major Benefits:

  • Very low one-time cost at $799
  • Great for customer and partner training
  • Metrics for course engagement

I helped a 10-person startup launch an online training portal using Learnyst. For less than $1,000 they now train 500+ external partners per quarter!

The table below shows a cost comparison over 3 years for two popular SMB LMS options:

LMS 3 Year Cost
Learnyst $799
PerformancePro $9,000 ($5 per month per user)

As you can see, Learnyst offers substantial cost savings that make training viable even for organizations with tight budgets.

Key Factors to Consider

When picking your LMS, factor in upfront costs vs ongoing fees, training use cases (employees/customers/partners), required integrations, content formats and more. Connect with me directly to discuss your specific organizational needs. With the right platform, you can increase productivity, retention and growth.