Do you feel as though your company's growth has hit a plateau? Does it seem as though your employees are lacking the skills necessary to take the business to the next level? If you're nodding your head, then it's time for your company to invest in an effective corporate training program.
Corporate training is a crucial component in the development and growth of any company. It's not just about teaching employees new skills - it’s about equipping them with the knowledge they need to make informed decisions, work more efficiently, and contribute to the success of the company.
A successful corporate training program goes beyond mandatory training requirements. It's about creating an engaging and interactive learning experience that motivates employees to take ownership of their personal growth and development.
So what exactly goes into creating one of these programs? Let's take a closer look.
What is a Corporate Training Program?
The purpose of a corporate training program is to teach employees new skills and knowledge that will help them perform better in their jobs. And the best part? It's beneficial for both employers and employees.
You might be wondering why you should even bother investing in one of these programs. The proof is in the numbers - according to a survey by LinkedIn, a whopping 94% of employees said they'd stick around at a company longer if they were given opportunities for career development.
Organizations with a strong culture that emphasize the importance of learning new concepts are more likely to have innovative breakthroughs. And a strengths-based development program can result in employees who are up to 15% more engaged on the day-to-day.
So what should you include in your corporate training program? It really depends on the company and the industry. Some programs focus on teaching employees technical skills needed for their job, while others might offer leadership training or courses in communication and teamwork.
At the end of the day, a corporate training program is a way for a company to invest itself back into its employees' career growth. These programs come in all sorts of formats and styles, and while there's technically no "wrong" way to hold a corporate training, there are some best practices to follow:
The Key Principles of a Successful Corporate Training Program
Now that you know what a corporate training program is - what makes it effective? Here are some key elements to include in designing your plan.
Relevance
Make sure your training programs are both relevant and actionable. The secret sauce lies in training that’s developed with advice from people who actually know what they're talking about - coaches, training leaders, industry experts, etc.
Engagement
Nobody wants to sit through a dry, boring lecture. A training program should be engaging and interactive. For instance, the classes in Elevate Academy are delivered in chunks of just 5 to 10 minute segments. Each one has a prompt that requires participants to actually digest and apply what they've learned.
Clear Alignment with Business Goals
Your training objectives need to be aligned to your company's overall business goals. That way, everyone will know that your training isn't just benefiting individuals, but also the company as a whole. If you can't identify what goals to align the training with, it might be time to design or choose another one.
Creative and Tailored to Your Organization
According to McKinsey, the majority (nearly 90%!) of employers admit to having an existing skills gap (or predict that they will have one in the near future). That gap could lead to an $8.5 trillion deficit in revenue within the next ten years. It's not about lacking people to get the job done - it's about lacking people with the right skills.
Because of this, you need to tailor your training program to the specific needs of your organization. Again, don't just mandate training without understanding its ultimate goal - one size does not fit all!
Metrics for Success
Of course, you also need to have metrics in place to measure the success of your program. That means tracking how often employees are engaging with the program and observing changes in employee behavior as a result of the training. Data is your friend.
Incorporates Feedback from Managers and Employees
It's important to get a variety of perspectives on what's working (and not working) in your training program.
This will help you identify gaps you may have missed in designing the training, and show that everyone's opinion is valued.
Continuous Learning and Follow-Up
Keep it fresh and ongoing. You don't want your training program to feel like a one-and-done affair.
By offering new classes each month, and holding live coaching sessions regularly, you'll promote continuous learning and development.
When Should Corporate Training Sessions Be Held?
Corporate training sessions are typically held in different scenarios. Here are some times when it makes sense to hold a session:
Onboarding
Did you know that 22% of organizations don’t have a normal onboarding process? Unfortunately, a lack of onboarding can leave employees feeling lost, frustrated, and ultimately unproductive.
For onboarding, it's crucial that new hires receive training as soon as possible. This helps them feel more comfortable and confident in their new role, and speeds up their integration into the company’s culture.
Onboarding isn’t just for new employees, either! If someone is switching roles within the company, they should receive proper training to prepare them for their new job.
Professional Development and Refresh Opportunities
Of course, corporate training isn't just for getting up to speed - it's also about continued professional development. Offering refresh opportunities and professional development programs can help employees feel engaged, motivated, and valued.
Mandatory Programs for Legal Compliance
While not the most thrilling, programs for legal compliance are necessary to ensure that all employees are aware of the regulations and procedures related to their jobs.
This includes topics like health and safety in the workplace and sexual harassment training, among others.
Where Should Corporate Training Sessions Take Place?
As is the case with most things, there's no simple answer to where corporate training sessions should take place.
Many companies swear by face-to-face training sessions, and for good reason. They allow for personal interaction between trainers and trainees, which often results in better retention and understanding of the material. Plus, there's something to be said about the energy and camaraderie that comes from being in the same physical space.
And while many businesses have returned to traditional-style training now that the COVID-19 pandemic has largely ended, there are many areas in which these trainings fall flat. In 2023 alone, corporations spent $101.8 billion on corporate training expenditures.
While that number would indicate that corporations care deeply about employee development - and they absolutely do - workers say that only a small percentage of what they cover in those trainings is applicable on the job.
With the rise of technology, virtual training sessions have also become an increasingly popular option to save both money and time. And with e-learning projected to experience significant growth (it's estimated that the global corporate e-learning market will grow by more than 250% by 2026) it's easy to see why.
Virtual sessions allow for greater flexibility and accessibility, as participants can log in from anywhere with an internet connection. They're also often more cost-effective, since there's no need to book a physical space or provide catering.
Don't forget about on-the-job training, either, which can be valuable for employees who learn better by doing. This type of training allows for real-time application of knowledge and skills, which can increase confidence and job performance. Though this format won't work for every kind of training, it can be especially helpful in a skills-focused training program that requires more active participation.
How to Make Your Corporate Training Program as Successful as Possible
How can you make sure your corporate training program is effective - and you're not just throwing spaghetti at the wall? Here are some tips.
Perform an Analysis of Where Training is Truly Needed
According to recent surveys, nearly half of all employees looking for a new job say their current employer isn't doing everything they can to make the best use of their abilities. By identifying the areas where training is needed, you can ensure that your employees are gaining the knowledge they need to perform their jobs effectively.
To figure this out, you’ll want to conduct a needs analysis. This will help you weed out the skills, knowledge gaps, and other deficits that exist within your organization - only then can you determine what kind of training will be most effective.
Make it Adaptive
To make sure the program resonates with each and every employee, make it adaptive. Identify the unique needs of each person and then use technology, like learning management systems, to create personalized experiences for each individual.
Make it Active
We all remember the days of sitting in front of a grainy TV screen, watching company-issued training videos on the first day of our minimum-wage jobs in high school. How effective were those videos? Probably not very.
Make sure your training program is as interactive as possible. You can incorporate hands-on activities, simulations, and case studies to ensure employees are engaged and motivated.
Even games can be effective! The majority of employees who tap into game-like training feel motivated, so incorporating things like point systems or friendly competitions can make your training more digestible - and perhaps even enjoyable!
Collect and Analyze Participant Feedback
After each training session, ask for feedback from participants. Use this to determine what worked and what needs improvement.
Limit the Amount of Information You Deliver in One Session
One of the most significant problems with training programs is cognitive overload. Employees can only absorb so much information in one sitting. To avoid this, limit the amount of information you deliver in one session.
Consider microlearning, a technique that delivers short, bite-sized modules of information. Microlearning has been proven to be more effective than traditional training methods, as it allows for better retention and recall of information.
Revamp Your Programs Every Year
Businesses are dynamic, and so are their needs. To ensure your training program remains relevant, revamp it every year. Update its content, incorporate new technologies, and adjust the format to keep it fresh and engaging.
Consider Multiple Learning Styles
Everyone learns differently - that's just what the science says. Some people prefer to read, while others prefer to watch videos or participate in hands-on activities. Consider multiple learning styles when designing your training program. This will ensure that each employee is engaged and motivated to learn.
Be Mindful of Employee Bandwidth
Employees have limited bandwidth, both in terms of time and attention. Don't overload employees with too many training sessions or give them unrealistic deadlines to complete programs or courses.
At the end of the day, you need to be mindful of how much they can take on - and make sure the training doesn't interfere with their productivity in doing their actual job.
The Takeaway
Investing in a successful corporate training program is not just a "nice-to-have" for companies - it's a necessary component for growth and development.
By providing your employees with the tools they need to succeed, you'll not only see a positive impact on their performance - but also on the overall success of your company.
So what are you waiting for? Give your company the boost it needs by investing in a successful corporate training program. Your employees will thank you, and your business will reap the rewards.
