As much as corporate training programs are designed to improve the overall efficiency of the workforce, it is often seen that several employees do not find these trainings helpful enough. Several corporate unanimously agree that both the training content as well as the way these sessions are provided needs to be improved. Especially, the present Facebook generation (Generation F) wants tech savvy means of training and prefer content that is highly tailored to enhance their skillset.
Ways in which training programs benefit the organization
Well, the main goal of providing training is to bring down the recruitment costs associated with replacing an existing employee and training the new workforce. The whole process is, in fact, gruesome, time-consuming, and costly. Organizations prefer conducting regular training programs, through which they can easily upgrade the skills of their existing employees, to overcome this situation. In fact, there are studies which show that lack of proper training program is one major reason for high attrition rates in several companies. So, it only makes sense to train the current workforce, as it helps in:
- Enhancing the skill set of the workforce
- Bringing down the cost of recruitment
- Retaining employees
According to our procurement analysts, the cost of replacing a current employee can be 50%–60% of the employee’s salary – which undoubtedly is very high. To overcome situations like this, organizations like GE Capital provide technical training for at least 40 hours a year to all its IT associates, irrespective of their hierarchical level.
How is technology enhancing corporate training?
Recently, Walmart came up with a mobile app for its employees to bring down the number of workplace accidents. The app features three-minute presentations on several routine tasks in the warehouse. Employees were later tested to know their level of understanding about the work process. Within the first six months of launching the app, the number of reports deemed reportable came down by nearly 50%.
Similarly, the online payments company PayPal created a private Facebook group where employees connect directly with invited experts—and one another—to troubleshoot. The company also encourages the use of Twitter’s Periscope and Udemy to gain access to a huge library of courses and follow them at one’s pace. Since the introduction of these changes, the results have been quite amazing for PayPal. Not only has the number of “active learners” doubled, but the company also witnessed a 25% decrease in their training expenses.
Major suppliers of corporate training services like GP Strategies and SkillSoft are using wearable and VR technology to enhance the entire training process. For instance, wearable technology enables better collaboration in the participating group along with providing real-time support. VR technology, on the other hand, helps train workforces with delicate and sensitive tools in a controlled environment.
The examples mentioned above substantiate that the Generation F is more interested in short and to the point training material. Secondly, it also shows how corporations are eagerly looking for software which organizes the training material into bite-size, video-centric courses for smartphones and tablet computers.
To know more about the scope and demand of corporate training services
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