The corporate training market in Australia is a dynamic and growing industry, driven by the need for businesses to stay competitive in an ever-changing market. Here is an overview of the corporate training market in Australia:
Market Size
The corporate training market in Australia was valued at $4.7 billion in 2019, according to a report by Training Industry, Inc.
Key Players
There are many corporate training providers in Australia, including large international companies such as Adobe and Udemy, as well as local providers such as the Australian Institute of Management and TAFE NSW.
Market Segments
The market can be segmented into several categories, including leadership development, compliance training, IT skills training, and soft skills training.
Delivery Modes
Corporate training programs are delivered through a variety of modes, including classroom-based training, e-learning, virtual classrooms, and on-the-job training.
Industry Verticals
The corporate training market in Australia serves a wide range of industries, including finance, healthcare, education, government, and retail.
Trends
The Australian market is seeing a shift towards e-learning, with many businesses adopting online training solutions to meet the needs of remote and geographically dispersed employees. There is also a growing focus on soft skills training, diversity and inclusion, and personalized learning experiences.
Government Support
The Australian government provides funding for some training programs through initiatives such as the Skilling Australia Fund, which aims to increase the number of apprenticeships and traineeships in the country.
Corporate Training Statistics for Australia
Here are some statistics related to corporate training in Australia:
According to a report by Training Industry, Inc., the corporate training market in Australia was valued at $4.7 billion in 2019.
A survey by the Australian Industry Group found that 69% of employers provided formal training to their employees in 2019.
The same survey found that 63% of employers planned to increase their investment in training in the following year.
The most popular forms of training in Australia are eLearning (used by 84% of organizations), on-the-job training (used by 82%), and classroom training (used by 73%).
A report by Deloitte Access Economics found that for every dollar spent on training in Australia, there is a return of $4.70 in increased productivity.
The Australian government provides funding for some training through its Skilling Australia Fund, which aims to increase the number of apprenticeships and traineeships in the country.
A survey by LinkedIn found that the most in-demand skills in Australia in 2021 were digital skills, such as data analysis and software development.
The COVID-19 pandemic has led to an increase in online training, with many organizations moving their training programs online to accommodate remote work. A survey by EdTechXGlobal found that 75% of Australian organizations had increased their use of online training during the pandemic.
Corporate training is seen as an important investment in Australia, with many organizations recognizing the benefits of training for both employee development and business productivity.
The Shift to eLearning for Australian Businesses
The shift to e-learning has become increasingly popular for Australian businesses in recent years, and the COVID-19 pandemic has accelerated this trend. Here are some reasons why:
Flexibility
eLearning allows employees to access training materials at a time and place that is convenient for them. This is particularly important for businesses with remote or geographically dispersed employees.
Cost-effective
eLearning can be more cost-effective than traditional classroom training as it eliminates the need for travel, accommodation, and other expenses associated with in-person training.
Scalability
eLearning allows businesses to scale training programs more easily as they can reach a larger number of employees at once.
Customizability
eLearning content can be customized to meet the specific needs of different departments, job roles, or employee groups.
Improved Engagement
eLearning often incorporates multimedia elements such as videos, interactive quizzes, and gamification, which can make training more engaging and effective.
Real-time Tracking
eLearning platforms often provide real-time tracking of employee progress and completion rates, allowing managers to monitor the effectiveness of training programs.
Sustainability
eLearning is often seen as a more sustainable approach to training as it reduces the need for paper-based materials and physical infrastructure.
About LMS Portals
At LMS Portals, we provide our clients and partners with a SaaS-based, multi-tenant learning management system that allows you to launch a dedicated training environment (a portal) for each of your unique audiences.
The system includes an embedded SCORM-compliant course authoring tool that enables most anyone to build engaging courses quickly and easily.
We also offer a complete library of ready-made courses, covering most every aspect of corporate training and employee development.
If you choose to, you can create Learning Paths to deliver courses in a logical progression and add structure to your training program. The system also supports Virtual Instructor-Led Training (VILT) and provides tools social learning.
Together, these features make the LMS Portals platform and content an ideal solution for our Australian clients and partners.
Contact us today to get started or visit our Partner Program pages