The business world is changing at a rapid pace, therefore if you want to compete in today’s dynamic business environment, you will have to train your employees for it. This is where corporate training comes into play. In this article, we will show you a different side of corporate training that you might not have seen before.
Here are ten amazing corporate training statistics that will blow you away. To make it more effective for you, here are the key takeaway from these corporate training statistics to make your training more fruitful.
- Businesses Need to Invest More in Training
Despite heavy investment in corporate training, there is a still a long way to go. According to the US Bureau of Labor statistics, companies with less than 100 employees only averaged 12 minutes of management training every six months. The situation is even worse for companies boasting more than 100 employees. Companies that have 100-500 employees got the worse end of the bargain, putting up with only 6 minutes of management training every six months. It shows that company size has a direct impact on the corporate training their employees receive.
- Employees Love Training
According to a long-term research conducted at the Middlesex University for Work Based Learning, 74% participants assert that lack of training is the biggest hurdle in achieving their full potential at work. 87% of Millennials stated that professional development and career growth are very important. 76% of employees are looking for career growth opportunities. In fact, employee satisfaction grows with the number of corporate trainings they are exposed to.
- Create Engagement at Work
According to a Gallup survey, only 13% of employees are highly engaged at work while26%seem utterly detached, like they would rather be anywhere else. Shocked? This can have serious ramifications for the overall productivity of your business. If your company is also facing the challenge of disengaged employees, you could develop credible training and developments to engage them. Additionally, you can also outsource them to a company that specializes in training and development, as doing it in-house can be biting off more than you can chew.
- Take the Online Route
According to a 2015 survey, 38% of respondents confide that they are planning to buy a learning management system. Online learning systems and tools, such as training software and E-learning programs come at a close second with 37% respondents voting in its favor. Fast forward to 2018 and we can see these systems and tools everywhere. These online tools and systems have transformed learning altogether as most businesses are harnessing the power of the internet to train their employees.
- Retain Your Employees
Unbelievably, a survey revealed that 70% of employees say that job-related training and development directly influences the employee’s decision to stay with a company or not. 53% of HR professionals consider retaining top talent their top priority. No business wants to lose employees that they have trained, therefore, it is very important to retain your trained and best-performing employees. Finding a new employee is not easy and even if you do find one, you will have to train them and wait for them to adjust to your organization.
- Use a Combination of Learning Method
According to the 2015 training industry report, almost one-third of training hours were delivered with a combination of learning methods. Most use webinars and online self-assessment techniques for training purposes. Educators are discovering new methods of delivering holistic, hands-on training experiences, and strive to make it easier for employees to understand and implement the knowledge gained through corporate training.
- Application of Knowledge Is the Key
This brings us to the next point. According to a 24×7 learning survey, only 12% learners implement what they learn from training that they receive on their jobs. This shows that the training programs are not designed with a practical approach in mind. Only teaching theory without practice can lead to confusion and make it harder for learners to understand the concept. What will be the point of conducting training in the first place if your employees are not benefiting from it?
- Make Training Fun
Trainings can be boring right. 33% of employees who attended corporate trainings say that uninspiring content that they have to contend with is the biggest barrier to learning. Make corporate trainings more interesting by incorporating some fun elements such as humor and interesting facts and figures. Keep them interested in cracking a joke every now and then and create an environment that encourages employees to speak up. According to research, 70% of on the job learning occurs informally. It is better to ditch mundane learning methods in favor of more action-oriented models with real-life scenarios. The more comfortable your employees feel, the more they are prone to learn. As the saying goes, “Laughter is the best medicine.”
- Access the Learning Needs of Employees
According to ATD research, only 38% managers believe that their learning programs meet the needs of the learner. What this translates to is that 62% managers believe that their learning programs are ineffective in meeting the learning needs of their employees. Assessing the needs of the employees should be the first step towards designing a training program. If the course does not seem pertinent, grant or practical value in real-life challenges, employees will slowly lose their interest in these corporate trainings. Such seminars should be designed with employee learning needs in mind.
- Don’t Waste Money on Ineffective Trainings
Did you know how much money is wasted on ineffective trainings? No, let me tell you. According to statistics, businesses lose $13.5 million each year for every 1000 employees. That’s a lot of money, right. In order to save some of these resources from flushing down the drain, it is important to ensure the effectiveness of corporate trainings by accessing the outcomes. This can only happen if you design corporate trainings with the needs of your audience in mind and make it more interesting for learners. Encourage them to implement what they learn from corporate trainings or the purpose of the whole exercise would be futile.
My name is Muneeb Qadar Siddiqui is a brand strategist and a web developer at Branex – Web Design Agency. I love to attend conferences, seminars and events through which not only I can enhance my job skills but also get information on the latest trends and happenings in the marketing industry and beyond. I learned a lot by attending such conferences regularly in Dubai and all around the MENA region.