Change Management WalkMe TeamUpdated June 12, 2023

The Future of Work: Revolutionizing Corporate Training

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The Future of Work: Revolutionizing Corporate Training

According to a long-term research project conducted by Middlesex University for Work-Based Learning, 74% of 4,300 workers felt that they were not reaching their full potential at work because they lacked opportunities for development.

Corporate training can help bridge this gap and ensure that employees stay engaged, motivated, and up-to-date on industry trends. Effective corporate training should complement change management and organizational development strategies.

In fact, corporate training and change management are two sides of the same coin. They both are critical in improving organizational performance, driving innovation, and ensuring business success.

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Corporate training equips employees with the knowledge and skills they need to excel at their jobs, while change management helps organizations adapt to changing business realities. But effective change management requires more than just new processes or systems; it requires a proactive approach to employee training and development.

Investing in effective corporate training programs can equip employees with the necessary skills to adapt to change and promote organizational transformation. Therefore, corporate training plays a vital role in change management, and it is crucial for any organization that wants to remain competitive.

In 2023, the corporate training landscape will be heavily shaped by technological changes and the global knowledge economy. Businesses of all sizes will need to create a culture of continuous learning and development to remain competitive in the ever-evolving global market.

So, how can you design a valuable training program for your employees? This article will discuss various corporate training methods and how to align the program with your employees’ needs.

What Is Corporate Training?

Corporate training is the cornerstone of a successful organization. It represents an investment in your workforce, helping employees develop the knowledge and skills they need to excel at their jobs. Corporate training can take various forms, from classroom sessions and online courses to workshops and seminars.

But regardless of the format, the goal remains the same: to improve individual and team performance, enhance employee productivity and engagement, and ultimately drive business success.

By providing ongoing corporate training opportunities, organizations can ensure that their employees are equipped to meet the challenges of the modern business world. With the right training, employees can adapt quickly to changes, develop new skills, and help drive innovation within the organization.

Examples of training courses include: 

Why Is Corporate Training Important?

Why Is Corporate Training Important_

Corporate training is essential to the success of any business. To succeed in the current dynamic business world, employees need up-to-date skills and knowledge to stay abreast of the latest trends and technologies. Corporate training provides this critical education, equipping employees with the tools they need to excel in their roles.

According to Gallup, 4% of new employees quit after having a terrible first day. Most new hires determine whether they feel comfortable in the workplace during the first three weeks. In addition, 22% of employee turnover happens within the initial 45 days of employment.

By investing in corporate training, businesses can reap numerous benefits:

  • Improved employee performance and productivity: Employees who receive regular training are more confident in their abilities, which translates to higher-quality work and improved efficiency.
  • Fostering a culture of continuous learning and development: This is increasingly important in a world where innovation and disruption are the norm. By promoting a culture of continuous learning, businesses can stay ahead of the competition and be better equipped to adapt to new challenges.
  • Attracting and retaining top talent: Today’s employees want to work for companies that care about their professional development and offer opportunities for growth. By investing in corporate training, businesses can demonstrate their commitment to their workforce, making them more attractive to top-performing employees.

Corporate training can take various forms, including:

  • Classroom sessions
  • Online courses
  • Workshops
  • Seminars

The Benefits of Corporate Training

It’s not hard to see why corporate training is so important in the modern business world. With the right training, businesses can enhance their employees’ skills and expertise, leading to improved performance, productivity, and ultimately increased profitability.

But many businesses still overlook corporate training, seeing it as an unnecessary expense. What many fail to recognize is that the benefits of corporate training far outweigh its costs.

When done correctly, corporate training can:

  • Improve employee performance: Corporate training can help employees perform their duties more effectively, improving productivity and efficiency. This, in turn, can lead to improved customer satisfaction and increased revenue for the business.
  • Increase employee engagement: Employees who feel that their employer is invested in their professional development are likelier to be engaged and committed to their job. This can lead to reduced turnover rates and higher employee retention.
  • Enhance competitiveness: In today’s fast-paced business world, companies must be able to adapt quickly to changes and embrace new technologies. Corporate training can provide employees with the skills and knowledge they need to stay competitive, driving innovation and growth for the organization.
  • Improve customer service: Effective corporate training can equip employees with the soft skills they need to provide exceptional customer service. This can lead to increased customer loyalty and positive word-of-mouth marketing for the business.
  • Boost compliance: Many industries have strict compliance regulations that must be followed. Corporate training can ensure that employees understand these regulations, reducing the risk of costly fines or legal issues.

Why Does Corporate Training Fail?

Why Does Corporate Training Fail_

The Harvard Business Review suggests that organizations are not using their funds effectively despite spending over $350 billion globally on training. And Gartner states 70% of employees lack the skills needed to do their jobs.

So, what is causing corporate training programs to fail?

Here are six common issues that businesses face with corporate training programs, along with solutions to address them:

Misalignment with employee needs:

Issue: Employees feel that the skills they are being taught are irrelevant to their job roles.

Solution: Focus on designing training programs that teach relevant skills aligned with the needs of today’s workforce. Incorporate employee feedback and customize the training program to suit individual learning needs.

Information overload:

Issue: Training programs try to cover too much information in a single session.

Solution: Use microlearning techniques to make training more effective and digestible. Microlearning involves delivering information in bite-sized chunks, using online tools like videos, infographics, job aids, or a quick game. Allow employees to learn independently and provide ongoing support and follow-up sessions to reinforce learning.

Outdated training methods:

Issue: Dull manuals or old corporate training videos are no longer effective.

Solution: Revamp corporate training programs with gamification. Gamification adds game-like elements to traditional learning materials, like badges, points, and levels. This method has been shown to increase employee engagement and productivity. Consider using virtual or augmented reality training to create immersive and memorable learning experiences.

Poor timing:

Issue: Training programs are poorly timed, leading to resentment among employees who feel obligated to participate.

Solution: Use technology like e-learning to deliver personalized training that aligns with each employee’s schedule. Online training can be delivered at convenient times that don’t disrupt daily workflow, making it more accessible and engaging for employees. Consider providing mobile learning options so that employees can learn on-the-go.

Lack of engagement:

Issue: Employees are not engaged in the training program, leading to poor retention of information and a lack of motivation.

Solution: Create engaging and interactive training programs involving employees in learning. Encourage feedback and use real-life scenarios to demonstrate the application of new skills and knowledge. Incorporate social learning opportunities like online forums or peer-to-peer learning to encourage collaboration and knowledge sharing.

Lack of follow-up:

Issue: Employees complete the training program but do not receive ongoing support and reinforcement.

Solution: Provide ongoing coaching and mentoring to support employees in applying what they have learned. Use assessments and evaluations to measure the effectiveness of the training and identify areas for improvement. Encourage employees to continue learning and provide opportunities for ongoing development.

Types of Corporate Training

Types of Corporate Training

Corporate training is an essential investment for businesses looking to enhance employee productivity and drive innovation. Corporate training programs can come in various forms, each aiming at specific goals and objectives. 

Let’s take a closer look at the three types of corporate training: 

  1. Technical training: 

Technical training provides employees with the knowledge and skills required to perform specific job functions. For example, software training, coding boot camps and equipment operation training are all examples of technical training. 

Technical training helps employees understand how to use tools, software, and equipment more effectively, leading to increased efficiency and reduced downtime.

  1. Soft skills training: 

Soft skills training is focused on developing the personal qualities that enable employees to interact effectively with colleagues, customers, clients, and stakeholders. 

Communication, leadership, teamwork, time management, and problem-solving are some skills developed in soft skills training. It encourages employees to develop self-awareness, empathy, emotional intelligence, and conflict resolution. Soft skills are essential in creating a healthy work environment and fostering positive workplace relationships.

  1. Compliance training:

Compliance training ensures employees comply with laws, regulations, and company policies. In many cases, noncompliance can lead to legal issues, costly fines, and reputation damage. Compliance training addresses these risks by providing employees with the necessary knowledge and skills to adhere to policies and regulations. 

Examples of compliance training include anti-harassment training, cybersecurity training, and data privacy training.

Technical, soft skills, and compliance training are the three primary types of corporate training. Each type of training focuses on different aspects of employee development and helps businesses meet specific training goals and objectives.

Organizations can create a comprehensive training program that benefits both employees and the company as a whole by using a combination of these three types of corporate training.

What’s Next For Corporate Training?

As the business world continues to evolve, so does corporate training. 

The future of corporate training is exciting as new technologies and learning methods emerge to improve the employee training experience.

Here are some of the trends that we can expect to shape the future of corporate training:

  1. Personalization: Personalization is the future of corporate training. As employees increasingly seek individualized learning experiences, businesses need to personalize training to suit the needs of their workforce. Companies can use data analytics and artificial intelligence to deliver personalized training that aligns with each employee’s learning style, preferences, and job requirements.
  2. Microlearning: Microlearning involves training in bite-sized pieces that employees can easily digest and apply at work. This effective approach makes learning more accessible and encourages employees to incorporate learning into daily routines.
  3. Gamification: Gamification adds game-like elements to traditional learning materials, creating a fun and engaging learning experience. By incorporating gamification, businesses can capture employee attention, increase motivation and retention, and promote healthy competition among learners.
  4. Virtual and Augmented Reality: Virtual and augmented reality training will become more common in the future. These technologies offer immersive and interactive learning experiences that enable employees to practice skills and knowledge in a realistic environment.
  5. Mobile Learning: Mobile learning allows employees to access training content on their smartphones or tablets. It enables employees to learn anytime and anywhere, especially for remote workers or employees who travel frequently.

The future of corporate training is dynamic and constantly evolving. As businesses continue to adopt new technologies and learning methods, the focus of corporate training is shifting towards creating a personalized and engaging learning experience that aligns with the needs of employees.

Businesses can create an immersive, fun, and interactive learning environment by leveraging microlearning, gamification, virtual and augmented reality, and mobile learning. Personalization will also play a crucial role in ensuring that training programs meet the specific needs of each employee, leading to higher engagement, better retention, and improved performance.

Corporate training in the future offers exciting prospects to improve employee skills, productivity, and job satisfaction. Businesses that invest in new training methods will be better equipped to attract and retain top talent, increase employee engagement and motivation, and ultimately drive business success.

Corporate training is evolving to meet the demands of the modern workplace, and businesses must adapt to remain competitive and relevant in the future.

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