The truth is that companies that are not giving sufficient value to corporate training are at a competitive disadvantage of up to 19% compared to other companies (according to the study carried out by the Corporate Leadership Council).
In addition to this, the level of commitment that workers acquire with the company is also much higher, with a lower turnover rate and better income.
Training and development activities are often cut back at companies in an attempt to reduce company costs. However, it has been shown that these activities have a direct effect on the company’s income.
Facts you should know about corporate training
- 87% of the millennial workers believe that professional development should be a priority within the company. If you want to attract and keep young talent, you will need to have a training platform in your human resources plan.
- It is estimated that less than half of millennials have learned something new at work in the last month. Millennials believe that their development needs are ignored at work. Traditional training methods may not be sufficient for them. So you will have to assess their needs and how to address them through a training and development plan.
- According to a study by the U.S. Bureau of Labor Statistics, companies with fewer than 100 employees provide less than 12 minutes of training to their managers in 6 months. This makes it imperative that you include training within your company’s strategies.
- It is estimated that only 12% of users use what they learned on the job. This shows a big problem in corporate training, and that is that knowledge is not being transferred in the best way to the real world.
Organisations that use online training platforms spend less on training than companies that opt for traditional training.
If you haven’t already done so, this is the perfect time to invest in online training tools, as they will help you increase your company’s training profitability by reducing its costs.
Benefits of corporate training
- It influences the company’s culture: Without a doubt, the HR department, through its training area, can contribute a lot to the company in this respect. Integrating learning into the workplace and establishing certain good practices will be fundamental to establishing a good company culture.
Boost the agility of your collaborators: Currently, you can opt for corporate training in online, blended etc. format. Thanks to them you will be able to improve the company – employee commitment. - Training that adapts to the needs of your employees: The new generations demand content that adapts to their individual needs. Opting for self-directed learning is going to be a reality for all these generations of employees.
- Measure and improve training: Big Data’s technology is also applied to the training sector, allowing training processes to be fine-tuned and adjusted.
- Improves the training efficiency: Choosing the training modality that the employee’s profile needs, we will manage to improve the budget that we dedicate to training. Furthermore, it will also help us to carry out the employer branding strategies of the organization, both in the talent retention part and the onboarding process of new employees.
Key tips to reduce costs in corporate training
We are sure that we all want to get the maximum profit for every euro we invest in a corporate training project. However, to achieve this we will have to use our knowledge to achieve the best planning and decision making.
We give you the key tips for companies that want to implement e-learning for their employees, but have a tight budget:
- Short. Try to ensure that the first steps in corporate training offer considerable time savings. Keep your courses focused on the essentials, including short videos, structured material and accessible information.
- Count on experts. You may already have people with knowledge of the subject in your company. Tap into in-house talent, and motivate them to get more involved.
- Have a budget for training. A training plan involves having several courses. So you must have a global budget, on which you can make adjustments and optimise the global resources.
With these basic tips you will be able to implement a successful corporate training plan in your company.
