Corporate Training usually refers to training initiatives driven by employer productivity needs and defined competency skills. Corporate training involves formal or informal education programs designed to improve the skills of executives or workers. It can take the form of teaching a worker to fit into a new job, or it can be designed to improve skills for workers who are already on the job.
Some companies prefer to call corporate training with other terms such as employee development, human resource development or training and development.
Trends in Corporate Training
Some current trends in corporate training include:
Using non-teachers as trainers:
In this case, professional trainers might train a supervisor or mentor to lead employee training projects. The method is to give teaching skills to those who are most familiar with the work skills to be taught.
Online training or self-study can either replace the use of a teacher or be used in conjunction with classroom instruction.
Employers are increasingly designing personal development plans for individual employees rather than running large groups through one-size-fits-all training packages. The method allows employees to incorporate training that interests them and allows supervisors to put their workers in programs that best suit them.
This refers to the concept that training is most effective when an employee can put it to use quickly. Training on a new computer system, for example, is done just before the system goes live, rather than months or weeks before.
Benefits of Corporate Training
For the employer, training can boost the bottom line and reduce costs by decreasing wasted time and materials, maintenance costs of machinery and equipment, workplace accidents, leading to lower insurance premiums and absenteeism, among other benefits.
Training employees helps keep them motivated and up-to-date with industry trends and new technologies, which are essential to staying competitive and support sustainability of the organization’s goals.
Build Employee Loyalty
Staff benefits through the learning of new skills and becoming a valued asset in any organization, thus enhancing employee loyalty. Training can also improve staff morale and satisfaction, enhance their ―soft skills‖ such as inter-staff communication, leadership, and time management leading to increased customer satisfaction.
Improves Performance And Quality Assurance
Furthermore, research shows that productivity increases while training takes place. Employees who participate in formal training can be 230 percent more productive than untrained colleagues who are working in the same role.
In a nutshell, training brings direct benefits to business and can be calculated as a return on investment.
Looking at the various benefits, it is therefore imperative that Corporate Training must be taken seriously.