What is corporate training?
11 May 2021
Corporate training is the process of providing employees with the skills and knowledge they need to successfully carry out their jobs. This might mean learning the company’s own internal processes or it could involve studying towards external industry-recognised qualifications.
In larger companies, a specific Training and Development team might manage corporate learning or it may come under the remit of the Human Resources department in smaller organisations. Whoever is responsible for corporate training will need to identify training requirements, develop and deliver corporate training programmes or engage a corporate training provider like Simply Academy.
In this blog post, we’ll take a look at the importance of corporate training programs, how corporate training works and how to measure how effective it is.
Why corporate training is important
Employees who don’t receive sufficient training often feel that they aren’t reaching their full potential. So it’s important to provide corporate training to ensure that your staff are able to perform their job successfully.
Staff training and development will help your staff to address any weaknesses, strengthen their existing talents and learn new skills that can help them progress in their career. As a result, they’ll be more confident in their job and produce a higher standard of work.
Staff who receive appropriate training tend to feel more valued and more enthusiastic about their work. And the benefits of training will be felt throughout the company by increasing productivity, boosting morale and improving staff retention rates.
Ultimately this will help to increase income and efficiency, and reflect positively on the company’s bottom line.
How corporate training works
There are different ways that you can implement your corporate training programme. Which one you choose will depend on your own company’s requirements.
If you have the necessary resources, you can deliver workplace training in-house without the services of a specialist training provider. In company training is generally used for high specific training geared around the processes of the individual company. It wouldn’t be suitable if you want your employees to undertake training courses such as the Certificate in Mortgage Advice and Practice (CeMAP) or Diploma for Financial Advisers (DipFA).
Instructor led classroom training
If your staff need to study for external qualifications, you may decide to engage a corporate training provider. Classroom-based courses are the most established way to study for this type of qualification and are still very popular.
You could hire a trainer to deliver the course to a group of employees at your company premises, or alternatively send one or more employees to an external training centre.
Live Webinar training
Live Webinars are a more modern way to study. They take the classroom online to deliver seminars across the Internet, and also allow the trainer and learners to discuss the content using their microphones and chat boxes. If Webinar sessions are recorded, this will allow them to be used to review the course content later.
Online self-paced study
The use of online learning for corporate training has grown massively over the last two decades. It is a useful way to deliver corporate training in a way that is very accessible to learners and can be used to fit training around the learners’ work.
What is corporate training and efficiency?
When you are planning your training strategy, it’s important to make sure that the programme justifies the expenditure on it. This can be demonstrated by setting and tracking Key Performance Indicators to evaluate the Return on Investment.
There are various KPIs that you might want to track, which come under three general headings:
Bottom line KPIs will measure the company’s improvement in productivity. This may be evaluated by measuring the increase in the number of clients signed or the value of closed deals.
Performance KPIs look at how processes are improved following the training. This may be demonstrated by a reduction in time spent prospecting each lead or a decrease in the number of revisions needed when preparing quotes.
Quality KPIs will look at improvements in the standard of customer service. This can be seen through a reduction in customer complaints or order cancellations, or an improvement in positive reviews and referrals.
Is corporate training effective?
The effectiveness of corporate training will depend on your training manager or team correctly identifying your employees’ needs and then successfully delivering the required courses.
Working with a specialist training provider like Simply Academy will help to boost the effectiveness of your corporate training programme. We have over 14 years’ experience of providing training to the Financial Services industry, and our in-depth knowledge means that we understand your company’s needs.
We can offer training sessions at your company premises, at one of our 6 UK training centres or via the Internet, and can design and deliver a corporate training programme to meet your company’s requirements.
So if you would like to investigate the different corporate training options on offer, email [email protected] or give us a call on 0808 208 0002 to discuss your requirements.