Wonder why you should invest in Corporate Training? Before we help you know the answer, let us discuss something else.
A phrase often repeated in the sporting context goes somewhat like this “A captain is as good as the team”. The implications of this phrase, however, are not just limited to the world of sports. In the same vein, any enterprise or organization is as good as the people who work for it.
Out of all the resources an organization encounters in its lifetime, human resources are probably the most important ones. Oftentimes dubbed as a company’s biggest asset, its employees form its backbone.
The realization of this important and how best to keep this important asset happy and satisfied is what occupies the priority spot in any HR manager’s to-do list.
If the employees are so important for an organization’s success, isn’t it but natural that these organizations invest in corporate training to keep them happy, satisfied and engaged. It is indeed!
So how does an organization do that?
THE TOOLS HR MANAGERS EMPLOY
To achieve the intended employee satisfaction and engagement scores HR managers (or any other manager for that matter) employ the following methods:
- Provide for recreational activities
- Team Outings
- Events and celebrations during important occasions
- Flexible work timings and work from home options
- Perks and benefits etc
One such tool not covered in the above list is the tool of providing Corporate Training.
“What’s worse than training your workers and losing them? Not training them and keeping them” – Zig Ziglar.
This quote by a US motivational speaker brings out the importance of training. For those not amused by a quote or two:
Statista.com the global statistical portal for market research and data reports that the total spend on training was as high as $362.2Bn (2017). According to some estimates, the CAGR (for corporate training market) is to grow at a rate of 9.79% for the 2018-2022 period.
The above stats show the importance organizations give to corporate training. Besides, regular training reduces attrition and enhance employee engagement and satisfaction.
WHY CORPORATE TRAINING
We now discuss the various reasons why HR managers should invest in corporate training for the employees:
1. REDUCE SKILL GAP
The skill gap is the gap that exists between what an employer expects and what the employee can deliver. The widening skill gap is oftentimes a persistent problem for a large number of employers.
Corporate training can, thus, be highly beneficial in removing this skill-gap analysis and making the employees more job and role ready.
2. ENHANCE EMPLOYEE VALUE
The skills needed to be abreast of the rapid changes in the business environment are constantly changing. In this rapidly changing business environment, the company can use corporate training for up-skilling and multi-skilling of the employees.
Whereas Up-skilling an employee means extending upon an existing skill, multi-skilling involves providing training in new technologies and areas.
3. INCREASE EMPLOYEE ENGAGEMENT
Alongside the benefits of enhancing the existing skills and developing new skills, another benefit of corporate training is that it increases employee engagement.
Conducting regular training keeps an employee engaged and motivated which further leads to increased employee performance and productivity.
4. REDUCE ATTRITION
Employee attrition (especially involuntary) is a significant drain on an organization’s resources: both cost and time. Regular training enhances employee satisfaction and engagement.
A direct consequence of this enhanced employee engagement is a reduction in employee attrition and its related costs.
5. ATTRACT TALENT
An organization that invests significantly in employee training is seen as one that cares for its employees. This results in it being considered a responsible employer and hence such an organization can attract good talent.
Hence to conclude, corporate training at any stage of an employees association with an organization can go a long way in benefiting both: the employer as well as the employee.
LOOKING FOR CORPORATE TRAINING? PLEASE CONNECT WITH US AT PARTNER@EDU4SURE.COM OR CALL US AT 95.5511.5533.