As working in the corporate world continues to increase in competition and complexity, the need for effective corporate training and employee development is greater than ever. In fact, according to a recent report by Technavio, the global corporate training market (currently estimated to be $333 billion) is expected to reach roughly $417 billion by 2027, for a CAGR of 9.4% between 2021 and 2027.
The demand and extraordinary growth expectations present a significant opportunity for any participating organization, including channel sales partners for technology, corporate training content, and consulting services.
The Benefits of Corporate Training
Within the corporate world, there is a widely held belief that the success of an organization depends more heavily on the knowledge and capabilities of its employees, more than any other single factor.
Corporate training and employee development refer to learning sessions, workshops, and other activities developed by a company to enhance the knowledge and skills of its employees. Some of the specific benefits a company can expect from the development of training programs include:
Companies that invest in corporate training can expect to compete more effectively as a well-trained workforce tends to generate more revenue while managing costs more effectively.
Meet Standards and Regulations
Today, many companies operate within industries that operate under stringent regulatory requirements. This is especially true for healthcare and financial services organizations. And companies across all industries have needs to train employees on internal standards and expectations of conduct. Formal corporate training programs are used to ensure these requirements are met.
Increase Employee Loyalty
The availability of company-sponsored training programs often leads to an increased sense of loyalty as your workers may feel more appreciated while enhancing their overall value in the corporate world.
Participation in corporate training can also build camaraderie among employees, especially those who work in the same department or share a job role. Various types of training exercises can foster this by encouraging employees to work through learning and training assignments together and share knowledge and lessons learned.
LMS Portals: An Opportunity for Channel Sales and Reseller Organizations
LMS Portals provides a cloud-based, multi-tenant learning management system (LMS) that allows the administrator to launch and manage a dedicated online training environment (portal) for each of their unique audiences. In addition to customized branding, each portal you launch includes a powerful course development engine, along with robust tools for user onboarding, learning path creation, group management, certificate awarding, analytics, and more.
LMS Portals channel sales partners can leverage the unique LMS Portals multi-tenant architecture to launch a private learning environment for each of your client organizations.
In addition, we provide our channel partner and resellers with a library of 140+ read-made and customizable courses, covering most every area of corporate training and employee development.