Corporate training refers to a set of activities and programs designed to improve the knowledge, skills, and performance of employees within a company or organization. The goal of corporate training is to enhance employee productivity, improve job performance, and ultimately, drive business success.
Corporate training can take many different forms, including classroom-style training sessions, online courses, on-the-job training, mentorship and coaching programs, workshops, conferences, and seminars. The specific type of training used will depend on the needs of the organization and the employees being trained.
Topics covered in corporate training can vary widely, from technical skills related to specific job functions to soft skills such as communication, leadership, and teamwork. Many corporate training programs also focus on topics related to compliance and regulatory requirements, as well as diversity, equity, and inclusion.
Seven Types of Corporate Training Programs
There are various types of corporate training programs that companies can use to improve the skills and knowledge of their employees. Here are some of the most common types of corporate training programs:
This type of training is focused on developing employees' technical skills and knowledge related to specific job functions, such as software programming, engineering, or data analysis.
Soft Skills Training
Soft skills training programs are designed to develop employees' non-technical abilities, such as communication, leadership, teamwork, problem-solving, and time management.
On-the-job training involves hands-on learning and coaching while an employee is performing their job. This type of training is usually provided by a supervisor or more experienced colleague.
Compliance training is designed to ensure that employees understand the regulations and laws governing their industry, and how to comply with them.
Diversity, Equity, and Inclusion Training
This type of training focuses on promoting diversity, equity, and inclusion within the workplace, and educating employees about issues related to bias, discrimination, and cultural sensitivity.
Leadership Development Programs
Leadership development programs are designed to improve the skills and abilities of managers and leaders within an organization, with the goal of enhancing their effectiveness in leading teams and achieving business objectives.
Customer Service Training
Customer service training programs aim to improve the quality of customer interactions and customer satisfaction by developing employees' communication, problem-solving, and empathy skills.
The Impact of Corporate Training on Company and Employee Performance
Corporate training has been shown to have a positive impact on company performance. Here are some statistics based on studies and surveys:
A study by McKinsey & Company found that companies with strong leadership development programs were 2.4 times more likely to be in the top quartile of financial performance within their industry.
According to a survey by the Society for Human Resource Management, organizations that invest in employee training and development have higher revenue per employee and higher profit margins than those that don't.
A study by the Association for Talent Development found that companies that offer comprehensive training programs have a 218% higher income per employee than organizations without formalized training.
According to a report by LinkedIn, companies that prioritize employee learning and development are 46% more likely to be the market leaders in their industry.
A study by the American Society for Training and Development found that companies that invest in employee training and development experience a 24% higher profit margin than those who don't.
A survey by PwC found that companies that prioritize upskilling and reskilling their workforce are more likely to be successful in their digital transformation efforts and to achieve their strategic goals.
The Shift to eLearning for Corporate Training
Many companies are now using eLearning for their corporate training programs. According to a report by ResearchAndMarkets, the global corporate eLearning market is expected to reach $38.09 billion by 2026, growing at a compound annual growth rate of 13.6% from 2021 to 2026.
Here are some of the reasons why many companies are adopting eLearning for their corporate training needs:
Cost-Effective: eLearning can be a cost-effective solution for corporate training as it eliminates the need for travel, classroom rentals, and printed materials.
Convenience: Employees can access eLearning courses from anywhere, at any time, which makes it more convenient for them to fit training into their busy schedules.
Consistency: eLearning courses provide consistent training experiences to all learners, which can help to ensure that employees have a similar level of knowledge and skills.
Customization: eLearning courses can be customized to meet the specific needs of an organization, including industry-specific regulations and company policies.
Tracking and Reporting: eLearning platforms can track and report on learner progress, which allows organizations to monitor the effectiveness of their training programs and identify areas for improvement.
Interactive Learning: eLearning courses can incorporate a range of interactive learning methods, such as quizzes, simulations, and videos, which can help to engage learners and enhance their understanding and retention of the material.
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 your eLearning-based corporate training program.