Over the past several years, increasing competition in the global economy combined with growing complexity in the workplace and more stringent regulatory requirements has shifted corporate training from a luxury to a necessity.
The amount that companies invest in corporate training can vary widely depending on factors such as the size of the organization, industry, and specific training needs. However, according to a report by Training Industry, Inc., the average amount spent per employee on training in 2020 was $1,111. This represents a 10% increase compared to the previous year.
Additionally, the report found that large companies with over 10,000 employees spent an average of $17 million on training, while mid-sized companies with 1,000 to 9,999 employees spent an average of $1.5 million. Small companies with fewer than 1,000 employees spent an average of $125,000 on training.
Investments in corporate training can also vary by industry. According to the report, the highest-spending industries on training were healthcare, financial services, and manufacturing.
The Impact of Remote Workforces on Corporate Training
The rise of remote workforces has had a significant impact on corporate training in several ways:
Increased Need for Digital Training
Remote workforces rely heavily on technology to communicate, collaborate, and complete their work. This has resulted in an increased need for digital training programs that cover topics like virtual collaboration tools, remote work best practices, and cybersecurity.
Flexibility in Training Delivery
Remote workforces provide greater flexibility in how training is delivered. Traditional in-person training sessions are no longer the only option, and remote workforces have opened the door for more online and self-paced training programs.
Remote workforces can consist of employees from different locations and backgrounds, making it challenging to deliver training that meets everyone's needs. However, personalized learning, such as adaptive learning algorithms, can help tailor training programs to individual learners' needs and preferences.
Increased Focus on Soft Skills
Remote workforces require a different set of skills than traditional office-based workforces. Soft skills like communication, time management, and self-motivation are critical for remote workers' success. Therefore, corporate training programs should include soft skill development to support remote workers' needs.
Access to a Global Talent Pool
Remote workforces allow organizations to hire talent from anywhere in the world. This can result in a more diverse and multicultural workforce, requiring training programs that focus on cultural awareness, communication, and collaboration.
Overall, remote workforces have increased the need for digital, flexible, and personalized training programs that focus on essential soft skills and cater to a diverse workforce. As such, corporate training programs need to adapt and evolve to meet the changing needs of a remote workforce.
Learning Management Systems for Corporate Training
Learning Management Systems (LMS) are software platforms that enable organizations to manage, deliver, and track online learning and training programs. Here are some key features offered by the best learning management systems for corporate training:
An LMS should provide the ability to create and manage user accounts, assign user roles, and set permissions based on roles.
The LMS should offer tools to create and manage courses, add learning materials such as videos, documents, and quizzes, and organize courses by topics or departments.
The LMS should enable administrators to track learners’ progress through courses, view completion rates, and provide reports.
An LMS should offer personalized learning paths and recommendations based on individual user needs, skills, and interests.
Gamification features like badges, points, and leaderboards can motivate learners to engage more deeply in the learning process.
With the increasing use of mobile devices, an LMS should have mobile compatibility and offer responsive design for seamless learning on smartphones and tablets.
An LMS should provide tools for learners to collaborate with each other, such as forums, chat rooms, and group projects.
The LMS should support social learning features like discussion boards, knowledge sharing, and peer reviews.
Assessment and Certification
An LMS should enable the creation and delivery of quizzes and assessments, and provide certificates of completion or competency.
Integration and Customization
The LMS should be easily integratable with other business systems such as HR and CRM, and customizable to fit the organization's branding and learning needs.
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 for online coaching and social learning.
Together, these features make the LMS Portals platform the ideal solution for our corporate training clients and partners.