A lot of employees ask their managers what is corporate training and why do they have to waste a couple of their working hours on it. Well, corporates have to go through many obstacles in integrating new technologies and the ever-evolving industry standards. This is where corporate training comes into the picture as employees have to be constantly educated about the same.
However, corporate training has been misunderstood by employees and corporates as unnecessary and expensive. In this blog, we answer basic questions like what is corporate training, why is corporate training important, what types of corporate training and how to choose the right mode of training.
What is Corporate Training?
Corporate training involves providing learners with adequate skills and training through learning programs that will expand their knowledge and increase their efficiency at the workplace. It is used by corporates as an investment to groom and nourish their workforce and increase employee motivation. According to a LinkedIn survey, 94% of employees would stay with a company if it invested in their learning requirements. This is because they regard training as an important aspect of their job.
Organizing training is primarily the role of the Learning and Development / Talent teams in larger corporations and the Human Resources department in smaller organizations. They look after the training needs of the employees, devise training programs, and assess training requirements.
If you want an example of how corporate training is conducted, here’s a case study on how the pharma giant Cipla upskilled its workforce.
Let’s now look at why so many companies are opting for corporate training this year.
What is the Importance of Corporate Training in 2022?
Implementing training and development is critical for businesses looking to improve employee performance. It enhances individuals’ job performance and knowledge, allowing them to perform better at work. Before further understanding what is corporate training, here is a listicle on why it is important for you!
1. Keeping Pace with Changing Industry Norms
Corporate training and development can assist employees to keep up with evolving industry standards. It can also encourage employees to think more freely and to apply their creativity to their work. As the world moves toward digitization, innovation and staying current on trends have become crucial.
2. Training to Expand the Job Horizons
Companies might also use training to broaden their workers’ job duties. Employees can benefit from corporate training to develop their abilities for current and future roles, and online learning has shown to be a good tool for acquiring new skills.
3. To Improve Soft Skills
Corporate training can also assist employees to enhance their soft skills, which are necessary for responding to workplace changes. To mention a few, they include soft talents like emotional intelligence, communication, flexibility, and leadership. In fact, a 2015 study reported that one in every three skills needed in job postings is a soft skill after reviewing millions of US job postings.
Now that you’ve understood what corporate training is and why you should be opting for it in 2022, I have listed a few top types of corporate training programs that are normally opted for by large corporations.
4 Common Types of Corporate Training Programs in 2022
Depending on the size, diversity, and characteristics of the industry, various companies may have a variety of training programs. The following are some of the most prevalent types of corporate training programs in India:
1. Training for New Joinees while onboarding
This type of training begins immediately after a newly hired employee arrives at the office and continues until the individual is able to function independently. Its primary goal is to streamline the new employee adaptation process, allowing them to feel more at ease and become more productive faster.
The onboarding training program is extremely variable, although it is usually divided into two parts:
- All new hires will receive training. It gives a comprehensive overview of the organization, including its history, goal, vision, and values, as well as corporate policies and regulations.
- Specific training for a specific role. This focuses on acquiring basic information and abilities that a new hire must have for a certain position.
2. Compliance Education and Training
Compliance training is frequently included in new job onboarding and is mandatory. It is often a formal program centered on organizational policies or procedures that assist employees and employers to prevent both workplace difficulties and legal infractions.
Policies and procedures typically work or are industry-specific. Location can also influence what employees must comply with and what type of training is required. Compliance training can include programs like anti-harassment and diversity training, business ethics, workplace safety, and data protection and privacy training.
3. Hard Skills Training for Job Related Softwares
There is always space for growth, no matter how professional your employees are. Employee development revolves around hard skills since this type of training allows employees to strengthen the abilities required for their role and become even better professionals.
4. Soft Skills Training for Work and Office Etiquette
Soft skill training should not be disregarded because how your staff acts is just as important as what they know. According to research, mastering soft skills can help employees favorably impact the company’s success and enhance ROI.
Communication, problem-solving, and decision-making are examples of soft talents that pertain to interpersonal relationships. They assist employees in productively and amicably interacting with their coworkers and consumers. They are essential for bringing in new clients, boosting customer service, and forming a strong team.
6 Benefits of Corporate Training For Businesses
Organizations can gain significant advantages by frequently training their personnel, primarily through eLearning. Some of the advantages are as follows:
There is no doubt that employing new personnel is always expensive for a company. Spending on a proven workforce has proved that the ROI of corporate training is always a benefit when compared to new hires. Training can significantly cut a company’s expenditures because there is no need for a wage package, fringe benefits, medical expenses, and so on for a new employee.
2. Helps Boost Employee Morale and Motivation
Employees’ lack of drive to work has long been a source of concern. Corporate training helps to build a supportive workplace and demonstrates to employees that they are valued. Because not all employees are motivated, this will allow them to work harder for the organization.
3. Higher Employee Retention
Companies that invest heavily in training have a 53% lower employee attrition rate. Employee retention is directly related to the provision of corporate training. It gives employees the impression that their job is critical to the company’s success and that the corporation is prepared to invest money and time to get the task done right.
4. Improved Leadership and Decision-Making Skills
A corporation can benefit from training that improves decision-making and instills leadership skills in its employees. Better decision-making can assist a company’s efficiency, which can lead to increased sales and profitability.
A great team leader may assist them to innovate, resulting in numerous useful ideas entering the organization.
5. Helps Overcome Weaknesses
Training can reveal gaps and shortcomings in personnel and assist bring them to the surface so they can be addressed. Employee A, for example, maybe a great analytical person but poor in communication, and employee B may be a fantastic communicator but lacking in analytics; hence, these two employees could benefit from each other’s abilities and build on them to increase their performance.
6. Increased Productivity
Corporate training and development can have a substantial impact on employee productivity. Productivity can be increased as a result of well-organized and effective training programs that improve task management, inspire confidence, target required skills, and clarify employee expectations.
Productivity is an important goal in today’s organizations, and effective training may assist achieve the maximum levels of productivity on a regular basis.
Online or Offline Training – How to Make the Best Choice?
Depending on your training needs and availability of resources you can opt for online or offline mode of training. IIDEPro offers both online & offline modes of training depending on your learning requirements. We will be listing a few pros and cons of both online and offline learning for you.
- All participants are familiar with it.
- Easy to deliver content
- Interactions and discussions are encouraged
- Supports a wide range of assessments
- Simple to create and maintain
- Higher per-learner cost than alternative approaches
- Classroom requirement is a must.
- Each session has a limited number of students.
- This eliminates the requirement for classroom space.
- Allows participants to learn regardless of their location.
- Supports a wide range of activity types
- Can be saved for future reference
- Less expensive with time
- Users may feel disconnected.
- Learners can be kicked out due to technical issues.
- User as well as the instructor need to be well-versed in technology
- Highly dependent on internet connection
However, in today’s Digital world, software like Learning Management Systems (LMS) are being used by corporations to assist their onboarding process and provide all necessary training to the employee on joining the organization. It is a systematic and controlled learning environment that provides continuous learning to employees and generates reports for assessing the employee’s performance.
Still, confused about How to Organize Corporate Training? We’ve got you covered.
5 Steps to Organize Corporate Training For Your Business
Here’s a step-by-step guide that will help you organize corporate training for your business-
Step1: Identify the learning and upskilling requirements of your workforce.
Investigate new industry practices, norms, and standards, assess the significance of these new technologies or software and determine whether there is a need to upskill the workforce in order to stay competitive.
Step 2: Organize the learners into different groups, depending on their requirements, role function, and so on.
When providing training that is applicable to all employees, divide them into groups with similar needs. You should be able to comprehend the context in which your employees work, based on your categories, and then you’ll be able to deliver the right training.
Step 3: Research the best corporate training programmes and get in touch with them.
Research the best corporate trainers in the domain in which you want the training. Shortlist the top ones, then evaluate their years of experience and credibility. Get in touch with them and according to your budget and trainer quality pin them down.
Step 4: Mutually decide a date and mode of learning
Get in touch with the trainer/team and discuss the available dates, timings, venue, and mode of training. With mutual agreement, you can take the training forward.
Step 5: Conduct the training
Get the trainer and trainees together virtually or physically and conduct the training!
To avoid all this hustle you can simply contact IIDE, to develop a holistic training program for your organization depending on the knowledge and skill level of your workforce.
Lastly, if you still wish to know about the most commonly asked questions around corporate training, we have answered them below.
FAQ – Frequently Asked Questions
What do you mean by corporate training?
Corporate training is a way of educating employees through a system of activities that uses various forms of learning programmes to improve productivity. It serves as a catalyst for employee success, which in turn signifies the success of your company/organization as a whole.
Why do we need corporate training?
With the ever-evolving digital landscape, it is necessary to constantly upskill your workforce and keep them up-to-date with industry standards. Many firms adopt corporate training to outshine their competitors and build a resilient workforce.
What is online corporate training?
Online corporate training is conducted through the internet, where both the trainer and trainee are virtual, this mode of training is cost-effective and easily accessible to all people.
How do I create a corporate training plan?
It is very important to assess your training needs and organize your employees into groups depending on their roles, function, department, and so on. Research the best corporate trainers and plan a training date, time and mode mutually. Or to ease this whole process you can simply contact IIDE to develop a customized training programme for you.
Who offers the best corporate training programme?
In our opinion IIDE offers the best corporate training programmes, they identify your company’s current limitations and obstacles and help design a customized training program in accordance with the current level of understanding of the employees being trained.
Corporate training is seen as a crucial investment that enables firms to shine in today’s competitive environment. Firms are developing tailored and relevant programmes catering to the learning and development needs of the employees. It can be argued that corporate training has numerous benefits for both an organization and its employees.
The online training market is rapidly expanding, and organizations that capitalize on this trend will be well ahead of their competitors, and learning via online means or an LMS can be cost-effective and simple to develop.
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