Updated: Apr 25, 2021
Corporate training offers employees an opportunity to expand their knowledge base and skills. Employees who participate in corporate training programs are typically better prepared to perform their job roles and have a greater understanding of how they work they do fits into the company’s overall corporate mission. The increased competence employees gain through training can help your company build and maintain a leaderships position within its industry.
The Benefits of Corporate Training
While some companies choose to not implement a corporate training program during challenging or uncertain economic times, effective training programs have proven to offer such significant benefits that it is worth considering in any climate.
These benefits can include:
Enhance Employee Productivity
Nearly 75% of workers have reported a feeling of unrealized potential due to a lack of development opportunities. Effective corporate training is designed to identify and address employee weaknesses while enhancing existing skills. Employees are then able to perform better in their job roles and produce a higher standard of work.
Improve Company Performance
Companies that offer corporate training can expect to see higher revenues on a per employee basis, along with an improvement to the company’s overall bottom line. In addition, the implementation of corporate training has proven to decrease employee turnover (and the high costs associated with this churn).
Identify and Train Future Leaders
Every company needs great leadership in order to survive and thrive, especially in competitive marketplaces. Corporate training programs can be used to identify those individuals who show potential as managers and train them for the opportunity to lead as opportunities arise.
Attract Top-Level Talent
Job hunters often cite the availability of corporate training as one of the determining factors in choosing where they will work. Given this, more and more companies are now using their corporate training program as a way to compete for highly talented workers.
The Benefits of Outsourced Corporate Training
While an increasing number of businesses now see the value in offering corporate training to their employees, the development, management, and delivery of these programs can be challenging. In fact, it can distract you from maintaining a focus on your core business.
Given this, more companies are now seeing the value in outsourcing their corporate training programs. In fact, outsourcing now represents nearly 45% of corporate training budgets. And this percentage is expected to rise in the coming years.
Corporate training companies typically have talented designers and developers that understand the latest trends in the industry. And most have access to state-of-the-art training technology that can streamline the learning experience while minimizing overall costs to your organization.
Learning Management Systems for Outsourced Corporate Training
The core technology that supports all types of online learning, including corporate training, is a Learning Management System, or “LMS”. An LMS is the application that is used to build, deliver, and track user engagement and success for eLearning-driven corporate training programs.
While LMS platforms are offered in a number of different options, there are two that are well-suited for third-party corporate training delivery.
A cloud-based LMS is a delivery method in which a third-party provider offers the LMS application as a service. For corporate training providers, this eliminates the need for a large, up-front investment to “stand up” their own LMS application. It also shifts the responsibility for the ongoing management and maintenance of the application to the cloud provider, so that you can focus on the development and delivery of great corporate training.
A multi-tenant LMS is an architecture that allows corporate training organizations to “spin up” customized instances of the application to support each of your corporate training clients with a private eLearning environment (portal). Multitenancy is particularly well-suited for third-party training organizations, as it allows them to build and customized a unique eLearning experience for each of their clients and training audiences.
LMS Portals for Outsourced Corporate Training
LMS Portals provides our third-party corporate training partners with a cloud-based, multi-tenant learning management system that allows them to create private eLearning environments on-demand for each of their corporate clients and engagements. Using LMS Portals, you can create new eLearning environments in minutes, each with its own unique branding, categories and courses, user onboarding, collaboration, analytics, and more.