What is corporate training ?
Corporate training programs are workplace learning initiatives tailored to the unique needs of your business. They’re designed to help employees develop skills that will support the company’s strategic goals, such as increasing productivity and boosting morale.
Importance of corporate training:
The world of work has changed dramatically in recent years and will continue to do so. Typical employees have more knowledge and responsibilities than employees just a few years ago. This is due to the advent of advanced technology and data that can be used for training purposes, but also the result of a workforce that is well educated, mobile, and career driven.
Employees today expect ongoing training as part of their career development plan. Therefore, corporations should invest in ongoing training programs for their employees in order to encourage retention, increase profits, and ensure success overall.
Here are 8 benefits of corporate training could help your business:
1. Increased Performance
74% of employees feel they aren’t reaching their full potential due to a lack of development opportunities. Corporate training addresses weaknesses and strengthens existing talents. Employees who have received sufficient training see improved skills, greater competency and increased confidence in their abilities. These employees are therefore able to perform better in their job and produce a higher standard of work.
2. Increased Productivity
Companies that invest in corporate training have 37% higher productivity than those that don’t. Employees who are good at their jobs are capable of completing work efficiently and are likely to get more done than those who are struggling. The increased confidence achieved through professional training also results in a greater sense of enthusiasm and translates directly into increased productivity.
3. Improved Morale & Motivation
There is currently a huge disengagement crisis in the workplace and job satisfaction has hit an all-time low. 1 in 3 people are disengaged at work. Companies who invest in training, create a supportive environment to work in and show their employees that they are valued. 65% of employees say that training and development positively affects their attitude. Feeling appreciated, helps employees to feel more satisfaction towards their jobs resulting in higher morale and motivation.
4. Increased Employee Retention
40% of employees with poor training leave their job within the first year of employment whereas only 12% of employees who say their company has excellent training opportunities want to leave their job. The provision of corporate training has a direct impact on employee retention and can reduce the costs of recruitment.
5. Better Leadership & Decision Making
There are many different types of corporate training but training which caters for leaders is particularly beneficial to a business. Leadership training works to improve the skills of managers, and senior level staff and results in better decision making and informed and intelligent strategies to power the business.
6. Improved Company Reputation – attract top talent
A convincing and effective corporate training strategy helps your business to build a good reputation and strong employer brand. Training is often seen as an additional employee benefit and helps to attract top talent to the business. Companies who invest in training and development are attractive to ambitious candidates who seek to improve their skills and progress within their field of work.
7. Increased Innovation & Creativity
Continuous training and up skilling of employees can encourage the circulation of new ideas, collaboration and creativity and result in increased innovation.
8. Increased Revenue
Companies that invest in training have 21% higher income per employee. When you consider all of the other benefits that corporate training offers a business, all essentially resulting in increased efficiency, it is not hard to see how these can result in increased revenue.
If you have been convinced by the many benefits of corporate training outlined in this article and would like to start looking at the different training options available to your business, get in touch using the enquiry form provided or by speaking to one of our team using the details provided. We’ll talk you through your requirements and create a tailored training programme to suit your business.