Everything You Need to Know About Corporate Training

Benjamin Franklin has rightly said that investing in knowledge yields the best interest. And we see organizations doing that practice for all their employees. Why? Because they know that if they keep their employees trained, help them grow, and increase their skill set, eventually those employees will help the organization grow and scale.

Similarly, if employees are not trained by the organizations, they won’t help the organization grow or scale.

That is why corporate training is conducted by numerous organizations.

What is Corporate Training? Why Is It Important?

Corporate training empowers employees to learn new skills to do their jobs more professionally and efficiently. These training are conducted by the talent department in big corporations or the HR department in small companies. The core purpose is, of course, the same, i.e. to elevate their workers’ mindset and skillset.

Human resource teams within organizations identify training needs, develop training scenarios, or hire experts from different organizations to conduct those corporate training.

Advantages of Corporate Training

Corporate training of employees of an organization is crucial for business success. There is even an old joke about it. It goes somewhat like this.

The manager asks HR, what if we train the employees and they leave? 

HR replies to the manager, what if we don’t train the employees and they stay?

While it is a reality that employees that grow in a certain skill set demand higher income and eventually are harder to retain because of their experience. Most organizations are hesitant about corporate training because their employees will leave if they train them. But the opposite is true as well. If the employees are not trained properly, and they stay, they will do more damage to the organization.

That said, corporate training offers many advantages to corporations and their employees. We have listed some of the most apparent corporate training benefits below. 

  1. Increase productivity

By conducting corporate training, your workers will be more productive and efficient if you provide well-designed training that suits their needs. These enhancements will increase your company’s profitability over time. Most of the productivity-focused corporate training is conducted by corporate training companies or corporate trainers specializing in their fields. These training are sometimes a training workshop spread over several days. The corporate training teams will design the complete curriculum for the organization. 

Most organizations try to conduct corporate training in exotic locations like a Beach Hut or a Farmhouse so that their employees feel fresh when they are about to absorb the new knowledge.

  • Give Confidence

Individuals, teams, and departments can benefit from training programs that help them work together as a unified business. Employees who understand how their job position contributes to the company’s overarching mission and goals can make a distinction between “my work” and “my company’s success.”

  • Increase retention rate

Employers may incur costs as a result of employees’ decisions to change jobs. According to a recent Gallup poll, the cost of replacing workers is at least half of their annual compensation. Because turnover may be avoided, businesses have a financial incentive to keep employees engaged and productive. One way of doing so is by providing them corporate training and meeting their just demands like salary matching, more compensations to their employees.

  • Enhance corporate culture

Another benefit of conducting corporate training is that it enhances companies’ culture and provides more insights to the HR teams to improve the culture. 

Going above the basic training can ensure that managers care for their employees and want them to learn new skills. This also directly impacts the corporate culture as a whole.

Types of Corporate Training Programs

Usually, three types of corporate training are conducted in most companies. These are:

  1. Product Training

If your organization uses custom software or a mobile app, the product training is about training the new hires about how the product is used. Usually, this can be a week-long training, and after that, the new hire can work on the product as and when needed. If multiple hires are made, the product training will include multiple hires.

  1. Hard skill Training

Next, we have the hard skill training. Hard skill training is to improve or polish a certain skill. For example, if a digital marketing agency conducts training on SEO for its writers, that would come in the hard skill training. These training are also conducted from time to time depending on the need within an organization. It is conducted to train multiple employees at once by hiring an expert or through videos.

  1. Soft skill training

Last but not least, we have soft skill training. Soft skills are anything that helps the employees improve the workflow. These can be communication skills, teamwork, and other such skill sets. They are for the whole organization and are usually conducted once or twice a year. Depending on the budget and need, soft skill training is conducted by specialized trainers who can assess the mental state of the employees and create a day-long training session accordingly.

How to Organize Corporate Training

Let’s learn how corporate training companies organize corporate training within an organization.

  • Find a Problem

Human resource teams are usually looking for problems within the organization on which they can https://timebusinessnews.com/why-corporate-training-is-critical-for-your-business/. These can be anything from communication skills to learning JavaScript. It depends on the employees and their skillset. So, the problem will vary depending on the scenario and on the human resource.

  • Instructor-led or Video-led

Then comes the choice of either choosing an instructor-led corporate training scenario or a video-led corporate training scenario. In both cases, the employees are to watch the trainer and learn what he is saying. Instructor-led video sessions are interactive. However, video-led training sessions are non-interactive, and employees usually train after watching video recordings of an instructor-led session.

  • Online or Offline

Last but not least, due to COVID, the corporate training session has completely changed. Before COVID, most corporate trainings used to take place offline. But now, they are online because of the Work From Home environment in most organizations. In online corporate training, employees use a digital medium like Zoom or Microsoft Teams. In offline training, they are physically present in the same place where the training is conducted.

Ready to Start Your Corporate Training?

We hope you are now aware of what corporate training is, different types of corporate training done within organizations, and how to conduct corporate training within your own organization. 

If you think we have missed something within this article, please let us know in the comments below.