Corporate training is seen as a key staff retention tool by more than 95% of hiring managers. Staff retention is important for more than just continuity, as it’s been estimated that every new hire costs your organisation an average of $30,000. Besides making really good financial sense, there are plenty of other excellent reasons you should be looking at an investment in corporate training.
At AIM, we make sure our clients are able to receive the best possible return from their corporate training investment by incorporating the 70:20:10 learning model which suggests that we learn at our best by spending 10% of our development time in formal courses, 20% working with others who can guide us and 70% operating at work while gaining feedback and encouragement.
Regardless of the industry, you’re in or what your organisation’s goals and objectives are, here are some of the many benefits your organisation can use to measure the success of your customised corporate training programs.
1. Align skills with strategy
Look at the long-term strategy of your organisation, department or team and work backwards to design corporate training that marries the required skillset for achieving the objectives within your strategy. For example, if your strategy requires your organisation to complete projects more effectively, corporate training that integrates project management skill sets into your organisational context will be much more effective.
2. Provide opportunities for development
Simply rolling out organisation-wide corporate training doesn’t always get the best results as not everyone will have the same enthusiasm for the development opportunities being offered. Link your corporate training to performance management processes and be selective on who undertakes the training, as this will create an environment in which these learning opportunities are something that people can aspire to.
3. Foster collaboration across departments
If you’re looking to break down the barriers between silos, a corporate training program is an effective way to encourage interaction between people from different departments or teams. Encourage team members to discuss their unique roles in the context of your organisation, as this allows them to gain a more complete picture of how your organisation operates.
4. Encourage innovation and disruption
At times, it can be difficult for people within your organisation to think critically about the processes they’re involved with when they’re consistently tied down with their daily duties. Implement a customised corporate training program to allow employees to step outside of their routine while encouraging them to take an analytical approach to the tasks they perform and contribute new ideas for improving processes.
5. Learn on the job
Today’s leading organisations are less focused on what their employees know when they’re hired and are now more interested in their ability to learn. Create an organisation where learning is continuous, well after formal training has been completed. AIM’s philosophy is to encourage lifelong learning in everything we do, which is why we design our corporate training programs in a way that learning can be continuously encouraged and assessed back in the workplace.
6. Building your culture
Your organisation’s vision and business values should be at the core of your corporate training. To build the culture your organisation desires, start your corporate training program with a session that’s dedicated to outlining your culture, mission and values so you can continuously link back to these during the program.
7. Aligning with current projects or programs
Is your organisation currently preparing to undertake a significant project or change program? This can be the perfect time to upskill. Corporate training provides an opportunity to build the dedicated knowledge and specific skill sets that will enable your organisation to more effectively complete these projects. Training can even be designed in a way that assessment modules are aligned with workplace projects, allowing your organisation to gain immediate benefits from the training while enabling practical real-world learning for participants.
Every business is different and so is our approach. AIM’s customised corporate learning and development solutions are as unique as the challenges you face. Matching the right skills to organisational needs and backing this up with an investment in learning and development can achieve business success and an engaged and motivated workforce.