It is said that when you invest in the knowledge you get the best interest. Corporate training programs are not something optional to have in your company. It is a component that drives organizational growth strategy and gives long-term future returns. 

This is a point that most organizations are agreeing with and all program managers are looking into. But the real question is do every organization take adequate training initiatives to upskill their employees? If not, then what is the current status of corporate training in most organizations? In this blog, we will discuss the ten crucial statistics on corporate training courses and their significance in a company's growth. 

10 Crucial Statistics On Corporate Training Courses

• Require More Investment In Corporate Training Programs 

According to a study published in the HR professional magazine, it was found that organizations having less than 100 employees provided only 15 minutes of managerial training every 3-6 months. Whereas, large corporations having more than 500 employees provided less than 10 minutes of training. 

• Employees Are Asking For More Training 

A research report published by Middlesex University demonstrated that from a sample of 4500 workers, 75% of them stated that they cannot achieve their full potential due to a lack of learning and developmental scopes at work.

Adequate investment in leadership development and providing management education training through effective corporate training courses can help organizations overcome major barriers to achieving desirable outcomes. 

• Transform Ideas Into Practices 

The same report commissioned by the above University also stated that 55% of HR managers considered learning and development to be a significant business driving force. However, although they admit this fact the management is not competent enough to increase employee training opportunities. 

• Need To Engage Employees At Work 

A report published by Gallop in 2017 states that around 86% of employees feel disengaged at work and 22% of employees leave the organization within the first eight weeks of employment. We can learn a lot from this data. Our priority should be to engage workers through corporate training programs for higher retention rates, less employee turnover, and improved business success. 

• Investment In Early Onboarding 

On-boarding your employees early on is a wise decision if you do not want to lose your employees to your competitors. It is necessary to onboard early for building strong first impressions. According to a study conducted by Sequoia Cap, around 5% of employees leave their jobs after a terrible first day and around 22% of attrition occurs within the first 60 days of employment. 

As an employer, you have to secure your company’s future. From these figures, we learn that if we do not invest in onboarding and online training early on it will contribute to very high employee turnover rates. 

• Prioritize Retaining Your Employees 

A retention report published by the Work Institute in 2018 stated that around one-third of employee attrition is due to a lack of management support and limited learning and development opportunities in an organization. 

The takeaway message from this scenario is that you should make your employees feel comfortable at work by guiding them with ample support from the management. You need to also ensure they have enough learning experiences. Since, the cost of replacing existing employees is much higher than upskilling your existing employees, investing in corporate training courses is your best bet. 

• Increase Knowledge Transfer 

According to a report by Workplace Learning-2015, it was revealed that only 15% of learners apply their training skills in their daily tasks. This happens because the knowledge provided is not properly mapped and methods used for skill retention are not implemented for maximum business outcome. 

• Considering Learner’s Needs 

A study commissioned by ATD research stated that 56% of managers feel the learning process is satisfactory while 65% of HR managers believe the learning needs of their employees are not met effectively. This communication gap needs to be covered by lining up with the learning needs of the employees. 

Thus, you need to make your corporate training courses relevant and practical so employees can combat real-life challenges with their upgraded skills and knowledge. 

• Implement Measures To Make Workplace Training Fun 

Two out of three employees have said that their training content is uninspiring and act as a hurdle to learning and development. Employers need to incorporate fun exercises and engaging content to make the corporate training programs more entertaining as well as informative. When you invest in an effective training program, the cost of retraining and re-skilling also decreases, saving you a lot of time and money. 

•  Ineffective Training Is Expensive 

According to a business review published by Harvard Business School, companies around the world are spending more than $320 billion on corporate training but the expenses are not optimized.

Read the following statistics to understand the present scenario: 

• 72% of workers report they do not possess the necessary soft and hard skills to do their jobs effectively. 

• Only 15% of employees apply the skills learned in training programs in their daily jobs. 

• Only 30% of trainees believed that learning initiatives considerably improved their performance. 

Conclusion

Judging all the other factors above, Grovo published a report stating businesses lose $14.35 million per annum due to ineffective training. Therefore, we need to invest in training and upskilling mindfully to stay competitive in business otherwise we would not be able to capture employee interest for a long time. Get serious about implementing corporate training programs in your organization today and get in touch with our experts at www.learnow.live.