Global IT University has found a product to help their clients manage their human capital that supports four critical areas of business through digital learning:
- Learning Management. Learning management is the process by which organizations create, manage, store, and search training curricula, and administer, manage and deliver training programs, whether in the classroom or online. Investment in learning management systems was expected to increase to nearly $1 billion , according to the Giga Information Group.
- Talent Management. Talent Management is a holistic approach to the employment life cycle. This includes human resource development practices such as identifying talent needs, on boarding new people, job profiling, performance reviews, intervention management, competency management, competency library/content proficiency ranking, succession planning, workforce analytics, and workforce planning. According to IDC, human capital management is a $5.3 billion market.
- Collaboration. Collaboration is the process by which users from disparate locations can meet real-time via the Web to engage in formal or informal learning, share ideas, work on projects collectively and simultaneously and have a central location to post, catalog and share ideas, documents, communities of practice and media. According to a study by the Radicati Group, the market for enterprise collaboration suites is currently valued at $1.6 billion. Over the next four years, the market is expected to grow at an average rate of about 10% per year, reaching $2.3 billion.
- Content. While the interaction of learning management, talent management, and collaboration systems is important, achieving training and development objectives can only occur when the correct content is delivered to employees at the right time and in the right form. Corporations develop their own proprietary materials internally and also seek out comprehensive, professional content libraries for basic compliance content and to supplement their leadership development. Content is developed or chosen based on specific training objectives. As an example, performance or talent management initiatives could require training content for compliance, safety & OSHA, HIPAA, Web design, IT certifications, desktop applications, business and professional development. Used properly, content will help educate and empower employees by accelerating the learning of new roles, helping compliance with the latest regulations, or creating a better understanding of safety in the workplace.