In this blog, you’ll learn every aspect of corporate training along with its advantages and many more.
Any business that talks about growth and development in its strategy should also include employee development. Employees are a driving force behind your business’s success. Thus, they need regular upskilling sessions to help businesses achieve their goals faster.
Corporate training is quite popular in the business world; leaders use it to increase proficiency and expertise among employees. The corporate training market is estimated to witness a growth of $40.21 billion from 2020 to 2025 at a CAGR of 7.97%.
Conducting regular corporate training activities helps your employees keep up with the industry’s changes and advance their skills further.
This blog will discuss corporate training 101, its advantages, types, and how to organize training.
Table of Contents
What is corporate training?
Corporate training means providing learners (here, employees) with the knowledge and skills to perform higher tasks correctly. Through a system of activities, employees learn skills to produce a higher return for the business. Usually, the learning and development, talent team, or HR departments are responsible for conducting corporate training. They identify the skill gap, arrange training programs, and make them available to employees.
The advantages of corporate training
Corporation training is crucial for any business’s success. Your employees are your driving force to achieve your goals. Thus, businesses need to provide employees with knowledge and skills to improve their proficiency. If you are still on the fence, let’s dive into the advantages of corporate training for business-
- Corporate training helps employees stay up-to-date with all the latest trends and changes in the industry. It helps employees take on challenging projects and feel motivated to complete them.
- Businesses can use corporate training to increase the scope of work for their present employees’ work responsibilities. It’s an excellent method of acquiring new skills, especially soft skills like communication, emotional intelligence, leadership, etc.
- Employees today don’t just value their job on the paycheck. They like to work in a place that provides them with growth opportunities and a sense of purpose. Corporate training helps businesses keep employees engaged and motivated by providing regular upskilling sessions.
- Corporate training exposes skill gaps and weaknesses that stop employees from growing and taking up challenging projects. During these sessions, they get to work on these weaknesses, overcome all the work challenges, and improve their performance.
- Hiring new talent is an extremely time-consuming and expensive procedure. Compared to new hires, you will see an exponential return if you spend half of that amount on corporate training. Training reduces many businesses’ costs, which are spent on salaries, medical expenses, fringe benefits, etc.
Types of corporate training
Each company organizes different training programs, depending on their skill goals, team size, technology advancements, and specific requirements. Here are some of the most common types of corporate training programs that businesses organize-
Such training is held specifically for new joiners to help them settle down and work independently. It’s usually a one-time formality to introduce the employee to the other team members and leaders across departments within the company. The HR department usually organizes this employee induction program to help employees feel more comfortable.
Benefits of onboarding training program:
- A smooth onboarding procedure helps retain top talents since it helps set a strong rapport with the managers and gives a glimpse of thriving company culture.
- Onboarding training programs help engage employees from the start, thus bringing higher earnings per share and boosting business growth.
- When new hires join the office, they feel intimidated to ask questions or feedback, but with a good onboarding training product, they quickly become friends and communicate their thoughts well with other team members.
Compliance training is a big part of the onboarding process, but it’s often conducted with exciting employees. It’s a formal program focused on company policies and rules that they need to follow to remain in the organization. These policies differed from one business/ industry/job to another.
The benefits of compliance training
- Good compliance Corporate training reduces the risk of non-compliance, which is crucial for the safety of other employees and the company’s reputation.
- Compliance training promotes a safe workplace where every member knows their rights and feels safe on your company’s premises.
- An important benefit of compliance training is to have a positive compliance culture that promotes accountability amongst the employees.
- When such things are taken care of, companies have a strong reputation amongst employees, leading to low turnover.
No matter how good your team members are, there is always scope for improvement. Technical training is extremely crucial for employees and business growth. Such training sessions help team members improve their skills and become better professionals. Employees need regular upskilling sessions to stay updated with the latest developments.
Benefits of technical training
- Trained employees are more productive and are always willing to take up new projects.
- Technical training helps you save up all the extra costs that you might have to spend fixing the mistakes of a non-technical employee.
- Such corporate training boosts employee morale and willingness to remain in the organization for the long run.
Ways to organize corporate training
There are a number of ways to organize high-quality learning programs for your employees. The best corporate training would be the one that salvages training goals and can be easily delivered. Let’s look at some of the most common types of training programs that you can use for your company-
Instructor-led classroom training
Instructor-led training is an example of “old school” learning where the training occurs in a classroom, office, or conference room. One or more instructors come and teach specific tech skills or material to groups or another person through presentations, lectures, discussions, and demonstrations. Such training is most useful when the material is complex or new, and the trainer has to have a one-on-one session with the learner.
Merits of instructor-led classroom training
- Instructors can easily see and evaluate learners’ performance and provide them with hands-on experience of the skill or material in training.
- Such training is less distrustful; the learners are focused on learning new skills.
- It provides a one-to-one experience where learners can easily communicate their thoughts and ask questions.
- It’s easily customizable according to the learner’s requirements.
Demerits of instructor-led classroom training
- It is not accessible to everyone since it is limited to geographical boundaries.
- Instructor-led corporate training is costlier per learner as compared to other methods.
- It requires a dedicated space and instructor, which is not feasible for all businesses.
Virtual instructor-led classroom training (VILT)
Virtual instructor-led training is a digital spin on traditional classroom learning. Such training is delivered by an instructor, similar to a classroom, but the training is delivered through video conferencing platforms. Many businesses have already moved to such training to reach more team members, irrespective of their geographical boundaries. Educators can make such training interactive by including videos, conducting one-to-one feedback sessions, and adopting various learning styles,
The merits of Virtual Instructor-Led Classroom Training (VILT)
- No need for classroom space; VILT can be done virtually.
- Virtual training enables businesses to reach a wide audience and train all their team members regardless of their geographical boundaries.
- VILT saves a huge amount of your money spent on trainers’ travel and accommodation.
- VILT training sessions are often recorded, thus providing extreme flexibility for learners to watch the training anytime, anywhere.
Demerits of Virtual Instructor-led Classroom Training. (VILT)
- It requires high-speed internet to watch the training
- It might feel challenging for learners who aren’t yet tech advanced to use the internet.
- Users might feel disengaged.
Online learning, or eLearning, is the quickest and cheapest way to conduct training. Online training for corporate usage has grown by 900% between 2012-2018. Here, businesses find the aptest online course for their learners, and the learning is done through videos, discussion boards, learning modules, and feedback sessions.
The merits of online learning
- You can access training material at any time and anywhere.
- Online learning is quite convenient and flexible because you are not required to set up an ideal environment for training; instead, each learner is free to consume the material as and when required.
- Online learning is cheaper than all other training methods since it doesn’t require you to book trainers or pay for their conveyance and accommodation.
- You can easily track progress in e-learning through in-built assessment tests and feedback sessions.
The demerits of online learning
- Requires high-speed internet to watch the training
- It might feel challenging for learners who aren’t yet tech advanced to use the internet.
Deliver corporate eLearning on Graphy
Modern-day employees love to work for companies that provide ample opportunities to grow. To start online training, the first thing you need to define is your learning objective, training goals, and the required audience. Once you have done that, choose an appropriate learning management system to manage your online training.
An LMS is a platform where you can manage and store online courses, provide learners with access, and track the performance of your course takers. Your Learning Management System (LMS) is a large repository where you can store and deliver resources safely. Every user is provided with a secure ID and password, and only then can they access the content. If the LMS is self-hosted, the learner must install the software on their system.
And, if you’re hunting for a convenient yet robust learning management system for your business, Graphy should be your ultimate choice.
Graphy is the content creator’s favorite Learning Management System (LMS). These robust features are specifically made for admins and learners to exchange information and provide the best teaching experience to their audience. It offers some extraordinary features, like-
- Using Graphy’s user-friendly drag-and-drop course builder, you can easily create an extraordinary online course within minutes. You can include videos, audio, text resources, SCORM, e-books, and assignments for your online course. In addition, you can also cater to your offline audience by sharing your SD card course with them.
- Graphy also allows you to launch branded iOS and Android mobile applications. You can avail of this feature under Graphy’s Pro, Business, and Advanced plans. A branded mobile app means no visible signs that you have created this app through Graphy.
- This LMS software aims to provide clients with the best live teaching experience. You can conduct live classes through Zoom, and if not, you can also record classes and upload them as different modules.
- Grapy lets you create extraordinary websites with highly convertible landing pages that help you convert visitors into paying customers. A non-techy can easily use Graphy to curate a website using the drag and drop page builder. You can also cross-promote relevant courses to upsell to your customers.
- Content scheduling is one such excellent feature of Graphy that every creator in our community enjoys. Here, you can schedule your content all at once or launch your drip campaign to make it available. It all depends on how admins want their content delivered to their learners.
- Graphy is a rare LMS software that offers multiple payment gateways, including Indian and international, like Paytm, UPI, Razorpay, CCAvenue, Instamojo, Stripe, and Paypal.
- The customer support of Graphy is excellent. We have a dedicated account manager for every user to guide them in using the platform, irrespective of your plan. You can reach out to Graphy’s customer support team via email, a phone call with your dedicated account manager, and live chat support.