TOP 10 BENEFITS OF TRAINING FOR COMPANIES
In today’s corporate world, those who want to succeed are the ones that hire training for companies to help their employees be more effective at their jobs. Corporate learning is a proven tool that drives growth within companies and positions organisations at the top of the market in their niche. Therefore, it must be part of the main strategy for business success.
If you’re still wondering whether implementing a corporate training programme for your employees is the right next step, keep reading. In this article, we’ll talk about 10 benefits of training for companies and how to choose among all the corporate training programmes available.
Kinds of corporate training
There are different kinds of training for companies. It’ll all depend on your employees and your organisation’s particular needs, among other variables such as the projects or the challenges you’re facing.
If you need to globalize your services, you’ll want your employees to be good with certain languages (probably English or French).
If you need to restructure, implementing a corporate training programme for managers would be the best step to take.
There’s a wide variety of corporate learning programmes. Choosing the right one will make a big difference and it’ll also be an essential step if you want your company to grow.
Top 10 benefits of training for companies
If something is true, is that training for companies is key to business success, as corporate training drives growth and it’s extremely beneficial both for companies and employees:
- Less turnover rate: A study by PwC showed that opportunities for career progression and training and development programmes were among the top 3 things they value the most in companies.
- Engaged employees: Along with a lower turnover rate, having more engaged employees that bring new ideas, show up for work, and deliver great outcomes makes the difference.
- Updated skills: Gone are those times when people studied at College, then got a job, and applied their knowledge over and over again until retirement. These are globalized, constantly changing times, and employees need to be updated on the latest technologies, languages, and soft skills to succeed. A study by Gartner showed that 70% of employees don’t feel that they master the skills they need for their jobs.
- Team spirit: It’s widely known that in order for a business to succeed, it needs to be run by a strong team. It’s not the same for a person to learn by themselves as participating in a joint corporate learning programme along with their team.
- Happy employees=growing business: If you want your employees to be motivated and engaged, you need to give them the tools to perform their jobs at a top-quality level. Training for companies is key to increasing their confidence in their job positions.
- Resource optimization: Training your current employees is cheaper than hiring new ones. Also, they already know the company, the culture, and their tasks. Corporate training helps employees work more effectively, and do more and better in less time.
- Higher profit: Companies with higher levels of corporate training programmes drive 218% higher income per employee than companies with lower training levels.
- Effective leadership: Great leaders drive their teams to success. Implementing leadership training for companies for your managers will improve the quality of the results obtained by their teams.
- Innovative ideas: Innovation and Development are among the main success drivers in business. Training for companies helps employees develop their creativity and bring new ideas to the table.
- The right skills: It’s not enough to learn. Employees need to learn the right things. Choosing the right corporate learning programme for your employees will ensure they become significantly better at their positions.
Choosing the right corporate learning programme
A recent study by Harvard Business Review reported that companies spend globally an average of USD 350B. However, 75% of the Managers were not satisfied with the training received. If we pair it with the research by Gardner mentioned above, employees still don’t feel they master the skills they need to perform their jobs effectively.
So now that you know the benefits of corporate training, now that you know that with training for companies you’ll have more productive, happier, and more effective employees, and that’ll inevitably drive business growth, making sure you choose the right training for companies is as essential as hiring a corporate learning programme if you want to avoid a staggering loss.
Develop a training plan
Not all training programmes fit all businesses. If you want to make sure you’re giving your employees the right training, developing a tailored training plan for your company is the best way to go.
Here are some steps you can follow:
- Balance the needs of the company: Current challenges or projects.
- Consider the needs of your employees: Their skillsets, their strengths.
- Refine the details of the plan: Times, methodology of the corporate training programmes.
- Execute: Implement the training and ask your employees for feedback.
Ready to enroll in corporate training? Check out the different options of training for companies.