TOP 7 BENEFITS in 2020 OF CORPORATE TRAINING
Updated: Apr 3, 2020
The most important resource of any company is, undoubtedly, employees. Training them is the best investment any company should be thinking of, since a trained employee can work efficiently not only in their work role, but also would be a great asset to the company as a whole.
In today's world, corporate organizations have bitterly understood that there is a wide gap between what they are demanding and what they procure in terms of skills. This is where corporate training comes into picture and fills in both the employer's and employee's requirements.
It is the strong belief of corporate companies that the fresher workforce that enters the industry are like a blank canvas ready to be painted, and the onus of training them is on the company. Now-a-days, there are many Corporate Training Companies which reduces the burden of training from the Corporate and supply them with industry-ready workforce or even re-train the existing workforce of the Corporate Company. The objective of these training companies are to assist organizations in achieving their goals and help employees to be on the right track for their long-term career success.
BENEFITS OF CORPORATE TRAINING
There is a famous quote which goes by "The only thing worse than training employees and losing them is not to train them and keep them." This pretty much sums up the importance of corporate training.
The benefits of Corporate Training is it helps create future leaders, improve communication skills, build interpersonal skills, improve job satisfaction among employees, eliminate weakness and improve strength, improve competitiveness, and so on. Each employee might benefit differently from the training program, but the end result would always be an improved and better performance.
TOP 10 BENEFITS OF TRAINING
1) Satisfaction and Morale: A company is termed successful based on the satisfaction rate of the employees. A high morale is displayed by the employees, if and only, their satisfaction level is positive. The company plays a very important role on the impact of employee morale such as the effectiveness of managers, the effort and quality of manager's interaction with employees, and interpersonal relationship with co-workers on a day-to-day basis. Providing training to all the workforce of the company tries and eliminates any satisfaction-related concerns. The leadership employees, when trained, would be good enough to provide reasonable support, would treat employees fairly and consistently, appreciate the employee at the right time, would empower the employees to make decisions about their jobs, provide feedback and coaching to the employees. When the leadership moves in the right track, the employee morale is bound to be rated high.
2) Orientation and On-boarding Training: Orientation is the training provided to the newbies of the company, which might take at the most half a day. The orientation program gives the new employee an insight on what the company is about, their policies and procedures, their vision and mission, their ongoing projects and upcoming projects and so on. This orientation training helps the new employee have a smooth first day, mostly with breaking the ice. The on-boarding training is aimed at making the new hire understand their job rule, their day-to-day activities, and the impact of their job role on the overall business. When what is expected is laid very clear in front of the new employee, the outcome is clearer and better. This training's benefit is a chaos-free work situation for the new hire.
3) On-going training: This training process is for the existing workforce. This training makes it easier for the Organization to develop and retain knowledge of the employees, improve the satisfaction level of the employee, increase productivity, and promote loyalty among employees which helps in longevity. A happy employee stays longer with the organization. The employee would understand that the organization is investing time and money on them, which would impact the morale and satisfaction in them. Ongoing training helps in overall development program of the employees of the organization.
4) Communication skills: In the corporate world, communication is the biggest tool. We communicate within the team, between the teams, with the management, with the subordinates, and also with the clients. Jim Rohn has quoted "If you just communicate, you can get by. But if you communicate skillfully, you can work miracles." This clearly suggests the importance of skillful communication which enhances the smooth flow of work within the organization and increases productivity. The biggest communication problem one might encounter at workplace is, "one listens to reply, not to understand." The biggest benefit communication skills training might add to one's skill set is to understand communication isn't only about talking, it also involves great listening. Once one understands everybody communicates differently and sees the world differently, the art of communicating becomes easy. The training makes one understand there is never one way to communicate rightly.
5) Address any specific needs: If the organization is facing an issue of lack of a particular skill set in the overall organization, then corporate training comes in handy to act as a bridge to cover the gap in the skill set. There are several programmes which help the employees address any issues they face at the workplace such as personality development program, work-life balance program. Corporate Organizations may also run training program to promote any new working practices and policies. Such training programs ensure all the employees of the organization are on the same page with regards to standards, policies, practices, and work culture of the organization.
6) Productivity: Any corporate training mainly focuses on training the work force for the betterment of their personality and their skill set, with the ultimate goal being improvement in productivity of individual contributor which in turn helps the company grow. It is in the understanding of the corporate organization that any new employee to become an optimal employee would need at least 3 to 5 years, but instead if they invest on training the existing ones, the result is manifold and they can cut down other training expenses on a newbie.
7) Reduce Attrition Rate: As already mentioned above, a happy employee wouldn't even want to part with the organization. This is a win-win for both the organization as well as the employee as the organization gets to curb the attrition rate and the employee need not look for newer opportunities. The advantage of corporate training is it shows the employee that he is valued and appreciated. Once an organization beats the attrition issue, it can shift its concentration towards the growth and development of the company.
To sum up, I would like to say corporate training provides innumerous benefits to the organization and the employee likewise. Training aids in bridging the gap between skill set required and skill set available. Training also improves communication skills, work-life balance, productivity, and employee morale.
A better skilled workforce can make a huge difference. They can emerge as future leaders and take responsible decisions. They can become subject matter experts. This will certainly make any organization a better performing one, providing an edge over the competitors. So, corporate training is the wisest decision of all.