What is Corporate Training? Everything You Need to Know
Comprehensive employee training can increase motivation, morale, and productivity while reducing employee turnover and increasing profit.
Ninety-two percent of employees report that a well-thought-out training program positively impacts their job engagement. Furthermore, 94% of employees say they would stay with a firm longer if they had more learning and development opportunities!
Creatives On Call can provide your organization with access to world-class experts who help develop comprehensive and dynamic corporate training programs to drive performance and increase employee engagement.
What Is a Corporate Training Program?
A corporate training program provides employees with the knowledge and skills they need to perform their jobs at the highest level possible. Many corporations have a whole department dedicated to training employees and use a variety of training methods such as:
This type of corporate training allows employees to work at their own pace. Quizzes at the end of each training session can make the process interactive and engaging.
Shadowing is a perfect example of this type of training and it allows employees to get invaluable real-life experience.
Coaching and mentoring
Coaching can make employees feel supported and accepted, but it does require your best employees to take time out of their schedule to train other employees.
By giving employees real or imaginary scenarios, you’re giving them an opportunity to develop their critical thinking skills and see what types of issues they might face within their job, all while giving them the tools they need to overcome them.
Classroom training programs
This type of training takes place with an instructor who presents material on a specific topic and answers questions. It can be an effective form of training but can also be time-consuming.
What Is the Importance of Corporate Training?
The benefits of a solid corporate training program are numerous both in the long term and the short term.
Companies that offer their employees comprehensive training programs experience 218% higher income per employee, 24% higher profit margins, and 26% higher price-to-book ratios than companies that don’t offer proper corporate training!
Effective corporate training programs can:
- Increase your company’s reputation
- Optimize the onboarding experience
- Enhance the skills of employees
- Motivate employees
- Increase productivity
- Improve morale
- Allow an opportunity for job upskilling
- Decrease expenses while increasing gains
- Increase job satisfaction and employee confidence
At Creatives On Call, we provide companies with up-to-date and research-backed corporate training programs that equip their employees with practical guidance, new skills, leadership training, and much more for the advancement of their careers. This, in turn, has a positive impact on their employers’ revenue and profitability.
Industry and Technology Updates
It doesn’t matter what industry you’re in—there are constantly new advancements in technology that all your employees should be well-versed in. Many of the skills employees were trained in months or even years ago are no longer relevant today. Keeping your employees continually up to date is an absolute must to outperforming your competition.
Training for Job Upskilling
Corporate training is essential for job upskilling. Upskilling is the process of teaching an employee how to perform their job in the best, most efficient, most up-to-date way possible.
You’ll likely find that your employees are happy and eager to upskill! In fact, 74% of employees report that they are willing to pick up new skills or retrain in order to stay employable. Furthermore, 49% of employees report that they think it’s the employer’s job to provide the training and developmental skills they need to be successful in their job.
Developing Soft Skills
Soft skills are the interpersonal qualities a person needs to communicate well with others, be a team player, manage their time effectively, build relationships, and think critically.
Giving your employees the tools they need to develop their soft skills can increase employee retention, improve customer service, create a harmonious work environment, and improve efficiency and productivity.
Types of Corporate Training Programs
Depending on the size of your company, you will likely benefit from offering these common corporate training programs to onboard new employees, provide professional development to all hires, and educate employees, which ultimately helps your company achieve its business goals.
Onboarding and Orientation
Did you know that companies with a solid onboarding process can improve employee retention by as much as 82% and productivity by over 70%?
The main goal of onboarding and orientation is to give a new hire job training to help them feel comfortable, engaged, and productive as quickly as possible.
This includes corporate training programs focused on company culture, mission, and values as well as training courses on the specific role they are hired for.
An excellent onboarding and orientation process is key to the overall learning experience and career development of a new hire and is critical for the success of your company.
Compliance training is a mandatory training that focuses on making sure employees understand and follow your company’s policies, regulations, and adherence to laws.
Noncompliance issues can cost an organization around $14.82 million per year, so it’s absolutely essential to make sure you have a solid corporate training program in place for this.
By choosing a reputable company with a proven track record like Creatives On Call, you can save yourself thousands of dollars and hours of wasted time on compliance issues, while creating a safe and productive work environment for everyone so you can serve your customers with excellence.
Hard Skills Training
Hard skills are measurable, technical skills an employee can learn to complete specific tasks within the business. It’s important to give employees many opportunities to have hard skills training sessions, as these are the job-specific skills they need to perform their work.
Although many hard skills will be specific to a unique role within the company, most employees will benefit from developing their hard skills in new technologies and upskilling in their current role.
Soft Skills Training
Soft skills include communication, teamwork, and problem-solving—and their value is not to be underestimated. A study from Harvard University found that 85% of job success comes from having well-developed soft skills while only 15% comes from hard skills. Coaching and mentoring, leadership training, interactive workshops, and peer learning are all effective ways to teach soft skills.
Product Knowledge Training
Product knowledge training focuses on teaching employees about the services or products your company offers so they understand the value of what is offered and are able to confidently help customers. This employee training can increase sales performance and improve customer satisfaction.
A mix between online learning and in-person learning is a great way to offer product knowledge training because it keeps employees engaged while staying flexible.
How to Choose the Correct Type of Corporate Training for Your Organization
It can be challenging to figure out how to develop an effective corporate training program that keeps employees motivated while efficiently teaching them what they need to know to succeed.
Whether you have a human resources department to help you with developing these corporate trainings or you’re a smaller business, here are some simple suggestions to help you get started:
Perform a skills gap analysis
You can perform a skills gap analysis on an individual or on the company as a whole to determine the skills your employees already have and the ones they need to build.
Set clear objectives:
Define the objectives for each individual, department, and the company as a whole. And keep detailed reports of each employee to help you organize their goals and the trainings they need to achieve them.
Everyone has a different learning style, which is why it’s important to target as many learning styles as you can in corporate training.
Consider your constraints:
Company budget, instructor availability, and employee time are all factors you will need to take into consideration as you’re building your corporate training program.
A quality corporate training program can provide employees with the learning experience, mandatory training, corporate learning, and more to help increase your competitive advantage.
Well-executed training and enablement programs have a positive impact on revenue and profitability. At Creatives On Call, we have specialists with years of demonstrable experience who can help you create a proven corporate training program that will excite your employees, exceed your expectations, and improve your retention and acquisition strategy.
For more information and to connect with Creatives On Call, see more about training program creation and learning strategies here.