People working in a corporate environment must have heard the quintessential terminology- Corporate training. MNCs across the globe have been working for corporate training and ensuring that their companies have modules to impart corporate training. The core responsibilities of training the workforce are generally the onus of top management and the HR team to make their employees future-ready. They are also responsible for building the strategic roadmaps of employee experiences and journeys to unravel the organization's growth.
Also, there are many misconceptions about corporate training that employees are unwilling to undertake and are not interested in exploring further. Therefore, the role of L&D now is evolving to enable ongoing learning rather than control it.
However, it is alarming that only 1/3rd of the talent developers would be willing to recommend their programs— they know there is room to grow.
Further, a workplace that facilitates corporate learning is in huge demand, according to a survey conducted by LinkedIn, where 94% of employees stated that they would prefer to stay in a company if the organization is interested in their professional development. Reflecting on this statistic is the fact that 90% of top management also believe that investing in their employees' career development is an essential requirement for the company's long-term growth.
Now that employees and employers see the importance of career development, what is in store for them next? To begin with, you must focus on creating ‘standardized' corporate training programs for all your employees to ensure seamless transfer of knowledge and employee engagement for organizational growth and development.
Moreover, employees with varied roles, experience, knowledge, & abilities should have access to training programs for improving learning efficiency and increasing ROI. You will also find a well-structured L&D program that helps in building desired knowledge and corporate skills for enhanced employee performance and higher job satisfaction to facilitate higher employee retention.
- Relevant to Present Work Scenario – The experience and information provided to your employees must be relevant, punctual, and applicable to their daily job activities. It should help them expand their knowledge and skills and aid their corporate learning to remain competitive. Identifying the people who require corporate training, what topics and skills they need upskilling, and so on is also imperative. You need to track every step of this critical journey to improve the efficiency and effectiveness of your training programs.
- Synchronized with Company Goals – Anything that helps in training your employees must be aligned with your organizational goals, focus on your business outcomes and identify the capabilities needed to achieve those outcomes. Based on these requirements, you need to decide the specific skill sets required by your employees and the types of learning experiences you need to create.
- Helps in Achieving Goals – While structuring corporate training programs, you must ensure they are goal-oriented. The Key Performance Indicators (KPIs) should paint a holistic picture of the program's time, cost, effectiveness, quality, and duration.
- Inculcate Crucial Feedback – Manager involvement is essential to increase employee engagement in the corporate learning program. According to a LinkedIn survey, “56% of employees would spend more time on their training if their manager has directed, or recommended, them to a specific program as it improves the credibility of the training program”.
- Boost Creativity – Workplace learning includes fun, bite-sized, and relevant activities to corporate training. A popular way to increase employee engagement is by moving away from traditional trainer-style learning, or an online learning experience similar to flicking through a PowerPoint presentation will allow employees to explore more creative possibilities.
- After-Training Support – Organizations spend thousands of dollars each year on employee training with extremely substandard knowledge programs and without bothering if it's working or not. Incorporating post-training follow-ups, such as short lessons or activities to review corporate learning, can help ensure better retention and adaptation.
The global corporate training market segment is divided into employee training methods, training programs, industrial sector, and regional domains. By training method, the corporate training market is categorized into virtual and face-to-face; BYLD group provides both virtual and in-person training to improve the culture of teamwork and higher productivity.
In today's world, corporate learning programs are modernizing as per the demands of the paradigm shifts. While large organizations use corporate training to increase inter-organizational communication, make collaboration easier, and build knowledge within different departmental structures. Smaller organizations use these programs to gain exposure by providing training modules to corporates from all across the globe.
