Corporate training is essential for the success of any organisation. It's just as important for a retail franchise as it is for a car rental franchise. Today, we’ll take a look at what it means, why we need it and how it can be achieved.
Corporate Training Definition
At a basic level, corporate training is a means of providing learners with the skills and knowledge they need to be successful. Nowadays, this isn’t just about internal learners (employees), but is also a way to reach external audiences (customers and partners). This article will focus primarily on internal learners though.
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Why don’t some businesses run a good corporate training programme?
Many organisations don’t invest in a detailed corporate training programme because it often comes with a significant cost and it doesn’t have an immediate impact on its success. Companies may choose to put their money towards an initiative that will benefit them straight away.
Another concern for the management team in organisations might be that employees will miss hours of the day when they could be doing work, which could delay the completion of tasks.
However, corporate training is crucial, not only for employees’ development but also for the overall performance of the business. Therefore, the cost and time is a worthwhile investment in the long run. Developing staff should produce a healthy return on investment and help you see more profits.
Many businesses are starting to realise the opportunities that corporate training opens up for them. For instance, there are technological advancements and innovative ways to measure the impact of training, so there’s never been a better time for companies to use corporate training to their advantage.
Why do you need corporate training?
We’ve already touched on why corporate training is so important, but let’s explore this topic in more detail by looking at why we need it.
1. Employees will be more valuable
If your staff learn more skills, they will add more value to your business. Training will provide them with a more in-depth understanding of their role, which will increase their confidence and enhance their performance. Employing competent workers is one way a company can maintain their status as an industry leader.
One way of achieving this is through ‘up-skilling’ which is where employees’ existing knowledge and skills are built on by developing expertise in the area. Or, you can train them in a completely new skillset so that they are capable of carrying out a more diverse range of tasks.
2. Employees’ weaknesses can be strengthened
Training is a great way to tackle any weaknesses that employees have in the workplace. Some employees might rely on others who have been in the company for longer to help them complete certain tasks.
Corporate training is a way to ensure that all staff are knowledgeable in their area, and therefore can cover for employees and work independently without constant support from another staff member.
3. Employee’s overall happiness and fulfilment will be heightened
Employees should feel more satisfied with their role in the business if they feel like their manager actually cares about them as an individual and how they perform. This should, in turn, also make them work harder and care more about the growth of the business.
4. The business is more likely to innovate
By paying attention to corporate training and helping employees reach their potential, not only are you motivating them, but you are inspiring them too. A work environment with high morale, where staff feel uplifted is definitely more likely to be a place of creativity and productivity than a space where employees are dissatisfied.
5. The business should benefit financially
Corporate training should make staff more productive and, with a rise in efficiency, projects are more likely to be completed quicker and to a higher standard. As a result, the business’ turnover should improve and so should its market share.
6. Increases interest of potential high calibre employees
If you can demonstrate that you run a robust corporate training programme and are a company that values its employees and their personal development, you will be a more attractive brand for jobseekers. As well as improving your reputation for new recruits, a good corporate training programme will boost your profile in the industry and to the competition.
7. Employees are less likely to quit
If staff feel valued, motived, inspired and all the other benefits that we have just discussed, they will be less inclined to look for a new job. High staff retention will mean that you don’t have to spend as much on recruitment either.
How can businesses deliver corporate training?
Here are three of the most popular strategies that companies use to deliver the training.
1. Learning management system
This is a means of creating, delivering and reporting training courses. It is an efficient and scalable means of implementing training programmes.
2. Face-to-face training
This is your classic classroom-type environment and how businesses have delivered training for many years. It’s a handy way to train employees in one space, so will most likely work well for smaller companies.
This sort of training isn’t ideal for organisations with employees in numerous different locations as it’s hard to manage. Also, it would only work for training employees, rather than training the customer or partner.
3. Blended learning
This is basically a mix of the two. A holistic training experience is realised through a combination of technology and traditional training methods. An excellent example of this is webinars, where you can deliver a personal training style at a large scale to whoever you’d like.
Blended learning is also popular in schools, with many classrooms being packed full of different technological devices.
The main benefit of blended learning is enhanced learner retention. Employees are more likely to retain information if they are subject to a dynamic learning experience that blends online instruction with real life interaction. A hands-on experience helps employees truly understand what they are learning, rather than just looking at a computer or listening to an audio file.
Becky Martin, Point Franchise ©