The employees are the lifeline of any organization. Helping them in developing their skills and knowledge is always the top priority. Corporate training benefits them to enhance their skills and helps them develop in their personal and professional life.
Corporate Training is an upcoming trend in every organization these days. In the last decade or so, every organization, big or small, as per their needs has invested in this.
What is Corporate Training?
Corporate training programs are crucial in this dynamic business situation. Subsequently, companies that invest in corporate training programs for employees are capable of adapting to new technology, providing customers with changing needs and expectations, and staying competitive in the market. The objective of the corporate training program is to provide and enhance the personal or professional knowledge and skills of the employees. Furthermore, it can take place either on an individual basis or on a group basis and is usually led by a skilled trainer.
The primary goal of a corporate training and development program, which can take many different forms, is to provide employees with the knowledge, opportunities, and abilities they need to become better workers and leaders.
Why Corporate Training Is Important?
Corporate training is the process of educating employees using a variety of learning programs through a system of activities. It catalyzes employee achievement, which in turn signifies the overall success of your company. According to a LinkedIn survey, 94% of employees would stay with a company if it invested in satisfying their learning needs since they considered training to be so important in their professional lives.
Corporate training benefits and is important to grow the skills and knowledge of the employees so that they perform well in their jobs efficiently. The training helps to enhance the productivity of both the employees and the organization, increases job satisfaction, and overall performance of the company. Through proper training it keeps employees updated on recent trends and technologies, to make sure that the company remains on top and competitive. Furthermore, it encourages continuous learning and growth, which enhance workforce stability and attract great talent.
There are 2 parts of corporate training (based on who conducts it):
- Internal Training: The employees conduct these for the other employees at no extra cost. Therefore, this only makes use of the employees’ time.
- External Training: These are conducted by external trainers who are hired and paid for. They are hired only when
- Trainer in-house is not available at all
- Trainer in-house is not capable of conducting effective training
Forms in Which Corporate Training Can Be Conducted
There are 3 forms in which Corporate Training Programs can be conducted:
- Virtual Self-Paced Training: The employees can attend these online pre-recorded training at their convenient times and places. They may even attend in parts and not in one single stretch. They can mostly re-attend the training too if need be. Highly flexible where interaction is not so important and no query clarification has to be provided.
- Virtual Live Training: These are PMP certification online training which is conducted with live streaming. Employees can attend them at their convenience, although they are conducted at predefined times. Employees have to attend it in one stretch according to the laid-out plan. If recorded and recordings are available, only then it can be re-attended. It might be interactive and query clarifications might be possible.
- PMP Classroom Training – PMP Classroom Training or PMP certification training is offline training conducted at a physical location at a specific time where both the trainer & employees attending the training need to be present in person. Highly interactive with very effective query clarification possible. Thus, many organizations prefer this traditional way despite its high cost.
What are Corporate Training Benefits?
Corporate training benefits help in improving the employee’s ability, skills, and organizational performance. Here are the perks of having corporate training programs in the organization.
1. Knowledge Sharing
Experienced employees drive this training. These increase the capabilities of the organizations and create backups for every task and process within. These could be either technical or non-technical training. This also helps to ensure smooth delivery and set expectations correctly. This is an intangible benefit.
2. Enhance the skills of employees
Existing skilled employees drive this training. These increase the capabilities of the organizations. These could be either technical or non-technical skills training. These help organizations encourage employees to add value by improving processes and systems. Furthermore, employees need to think outside the box to add value. This is an intangible benefit.
3. Add new skills and capabilities to the organization
When a business needs to introduce new expertise that does not already exist within the organization, external trainers with that skill are hired and train current personnel. These are needed for new businesses & initiatives that generate additional revenue. With the current trend, where technologies and approaches to drive business are changing at a rapid pace, every organization needs to keep up with the pace. Moreover, sometimes that might be essential for surviving the competition. This is an intangible benefit.
4. Employee Motivation
Employees feel good that the organization is thinking about them, and investing in them and hence stay motivated. Their learning curve improves which leads to many other secondary benefits like control in attrition, improved delivery, etc. This is an intangible benefit.
5. Trainer’s Self-Actualization
Senior and experienced employees get an opportunity to share their experience, skills, and knowledge with others in the organization. Thus, this indirectly helps control attrition and keeps senior employees remain self-motivated. This is an intangible benefit.
6. Social & Professional Causes
7. Attrition control
Effective control of attrition can result from the benefits of employee motivation and self-actualization. Organizations incur expenses per employee for expensive training to retain their employees under favorable employment conditions. Attrition is one big problem that organizations are facing currently and comes with a very high cost. Hence, at times, only this could be a reason why corporate training is essential nowadays.
8. Increase in Brand Value
This is an indirect and intangible benefit wherein due to high employee motivation and good feedback, employers’ brand value increases. We find surveys and rankings done for organizations. Eg. Top 10 Employers to Work for. Therefore, if the organization improves its brand value, it hires and retains better talent.
9. Tax Savings
This is a direct and tangible financial benefit. Organizations directly charge most of the costs incurred in conducting training in any form as expenses, thereby directly reducing taxable income. Additionally, organizations compensate for taxes incurred on services received through corporate training with taxes on services provided. Savings in the taxes (income & service taxes both) a direct savings to the organization.
10. Ensure Ethics & Compliance
Senior employees, compliance, or HR teams drive this training. Many of such training is mandatory for every employee. Only a few are required, depending on your position and the nature of your work. Consequently, these help to avoid or reduce ethics and compliance-related issues. It ensures that employees follow procedures as expected and do not violate policies. This is an intangible benefit.
If Return on Investment (ROI) is calculated (which most organizations do, based on the above-mentioned points), almost all training conducted yields more than what is invested in this training either in the short or long term. This calculation also considers the many intangible returns mentioned above.
Why ProThoughts Is a Better Option For You?
Corporate training benefits every organization to grow, inspire & motivate the employees of the organization. ProThoughts is the preferred training provider for the major companies in the region because of its distinctive learning and technique and the proficiency provided by it. Furthermore, ProThoughts professional development courses in several nations are organized and delivered by leading business professionals, giving you a path to becoming a professional. The identities of ProThoughts enable specialists to come together, share knowledge, and learn from one another.
ProThoughts Solutions Corporate Training Institute has effectively provided training and consulting services to businesses for many years. Moreover, customers from a variety of industries, including healthcare, real estate, construction, media, communications, shipping, and many more, have used it.
ProThoughts has developed over the years into one of the largest corporate training providers in the UAE, Mauritius, Thailand, and many other international nations executing & creating corporate training & project management courses.
Conclusion
In short, corporate training is essential for fostering a skilled workforce, boosting productivity, and maintaining competitive advantage in today’s dynamic business environment. Furthermore, by investing in employee development, organizations ensure continuous improvement, innovation, and long-term success.
