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Six Statistics that Prove the Value of Workforce Training

Workforce Training Statistics

Workforce training refers to the process of teaching and developing skills and knowledge in employees to improve their job performance and effectiveness. It can involve a variety of methods such as on-the-job training, classroom training, e-learning, coaching, and mentoring.

The goal of workforce training is to improve employee skills and knowledge, leading to improved productivity, performance, and job satisfaction. Training can cover a variety of topics such as technical skills, soft skills, safety, compliance, and leadership development.

Workforce training is an ongoing process, as employees need to continually learn and develop new skills to keep up with changing business environments and industry trends. Effective training programs are tailored to the specific needs of the organization and its employees, and are regularly evaluated to ensure they are meeting their intended goals.

Six Statistics that Prove the Value of Workforce Training

Here are some statistics related to workforce training:

  1. In a survey conducted by LinkedIn, 94% of employees said they would stay at a company longer if it invested in their learning and development.

  2. According to a study by the Association for Talent Development, companies that offer comprehensive training programs have 218% higher income per employee than companies without formalized training.

  3. The same study found that companies with formalized training programs have a 24% higher profit margin than those without.

  4. The Training Industry Report found that organizations spent an average of $1,111 per employee on training in 2020.

  5. A survey by PwC found that 74% of CEOs identify a lack of key skills as a top threat to their business, highlighting the importance of ongoing training and development.

  6. The Deloitte Human Capital Trends report found that 70% of executives believe that reskilling and upskilling are important or very important, but only 17% of those executives are making significant investments in reskilling and upskilling programs.

Workforce Training Strategies

There are several strategies that organizations can use to implement effective workforce training programs. Here are some examples:

Assess the Organization's Training Needs

Before designing a training program, it's important to identify the skills and knowledge gaps within the organization. This can be done through employee surveys, performance evaluations, and other assessments.

Create a Training Plan

Based on the assessment of training needs, create a comprehensive training plan that outlines the learning objectives, methods, and timeline for training delivery. Consider using a variety of training methods such as e-learning, classroom training, on-the-job training, and coaching.

Engage Employees in the Training Process

Employees are more likely to be invested in training if they are involved in the design and delivery process. Consider involving employees in identifying training needs, selecting training methods, and evaluating the effectiveness of the training program.

Use Technology

Technology can be used to deliver training in a variety of formats such as e-learning modules, webinars, and virtual training sessions. It can also be used to track employee progress and provide feedback.

Provide Ongoing Training and Development

Training should not be a one-time event. Ongoing training and development opportunities should be provided to employees to keep their skills and knowledge up-to-date and relevant.

Measure the Effectiveness of Training

It's important to evaluate the effectiveness of the training program to ensure that it's meeting its intended goals. Consider using metrics such as employee performance, productivity, and job satisfaction to measure the impact of training.

Key Technologies for Workforce Training Programs

There are several technologies that can support workforce training, including:

  • Learning Management Systems (LMS): LMS platforms are used to manage and deliver online training content to employees. LMS platforms can track employee progress and provide analytics on training effectiveness.

  • Virtual and Augmented Reality (VR/AR): VR/AR technologies can provide immersive training experiences that simulate real-world situations. This can be particularly effective for training in industries such as healthcare, manufacturing, and construction.

  • Gamification: Gamification is the use of game mechanics in non-game contexts. Gamification can be used in training programs to make learning more engaging and enjoyable for employees.

  • Microlearning: Microlearning is the delivery of short, focused training modules that can be accessed on-demand. Microlearning is ideal for employees who need to quickly learn new skills and knowledge.

  • Mobile Learning: Mobile learning involves delivering training content to mobile devices such as smartphones and tablets. This can make training more accessible to employees who are on the go or working remotely.

  • Artificial Intelligence (AI): AI can be used to personalize training content for individual employees based on their skills, knowledge, and learning preferences. AI can also be used to provide real-time feedback and coaching to employees.

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 built-in, SCORM-compliant course authoring software 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 for social learning.

Together, these features make the LMS Portals platform the ideal solution for managing your workforce training program.

Contact us today to get started or visit our Partner Program pages

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