The Future of Corporate Training
According to one-third of employees, uninspiring training content is a barrier to their learning and may cause them to leave their company. According to one study, ineffective training techniques can cost a company up to $13.5 million per 1,000 employees annually. As per a 2015 study by the Association of Talent Development, 62 % of human resources managers believe they are not meeting each individual’s learning needs. Businesses must adapt their corporate internal training programs to meet the needs of 21st-century employees by incorporating new technologies. There are technologies on the market that can customize learning content based on each user’s unique skill gap analysis report.
Related: Corporate LMS
What is internal training?
The L&D department plans and strategies and L&D coaches carry out Internal training in order to develop skill sets, knowledge, and attitude among employees within an organization.
Internal training aims to reinforce knowledge and improve employees’ soft skills. Employees cement their learning by training others. On-the-job training enhances an employee’s skills. Internal training that is modern and effective focuses on mobile digital learning and microlearning.
Why Internal Training for Employees?
In 2019, American businesses spent $83 billion on employee training, up 58 % from a decade ago. Internal Training via digital platforms like LMS is gaining ground on traditional in-person seminars and all-day training sessions. Learning opportunities can occur anywhere, and anyone can create them.
As a result, L&D is expected to play a critical role in the organization’s digital transformation and growth. Corporations will not be able to keep up with their competitors unless they embrace these internal training platforms to improve their business models.
Internal training for employees is the future of corporate training. With so many technological advancements, it only makes sense to employ an eLearning platform like the LMS for effectively training and upskilling the modern workforce cost-effectively and in less time.
94% of employees say they’d stay longer if their company invested in their development. Yet, by 2022, more than half of skilled workers will need a competency overhaul, according to the 2018 Future of Jobs Report by the World Economic Forum. So, it’s about time we revisited the need for a robust digital internal training platform to secure the future of corporate training.