Employees are at the heart of any organization, no matter the size. That makes them a company’s most valuable asset which is why supporting them in their professional development is key to business success.
If your company provides its employees with talent development plans to enhance their skills, stay motivated, and unleash their full potential, you’re already one step ahead of many organizations. If you’re not there yet, now is the time to start fostering your employee growth and reaping all the benefits of a corporate training program.
What is a corporate training program?
A corporate training program is a plan for the professional growth of your employees. It includes the key skills and abilities necessary for professional growth, along with the actions needed to develop them.
In other words, corporate training programs are designed to help workers acquire new skills and develop their existing ones. These plans should feature specific objectives that are beneficial for both the company and the employee, as well as a well-planned strategy for turning them into a reality.
The ultimate goal is to help develop valuable employees who work towards achieving the organization’s goals while staying committed and motivated.
Benefits of implementing a corporate training program in your company
Corporate training programs are a key strategy that all companies should consider, as they provide multiple benefits for both the organization and the employees:
Enhance professional development, improving company competitiveness
Arguably the biggest benefit of implementing these plans is the knock-on effect it has for the quality of the employee’s work. In the long run, this will positively affect revenue and the company’s competitiveness.
Most organizations are currently undergoing a digital transformation which affects how they carry out their operations and, according to Gartner, 70% of employees either lack the necessary skills for their current jobs or are not equipped for future roles.
The most effective way to keep up with changes in the workplace and make sure employees are equipped for future challenges, is through skills development.
Boost satisfaction and reduce employee turnover
According to Gallup, 87% of millennials consider their professional growth and development crucial when considering a job.
Employees are more engaged in organizations which are invested in their future. In fact, data shows that 94% of employees would stay longer in a company if it invested in their professional development.
That’s why implementing a corporate training program could help you to reduce turnover rates and become attractive to potential candidates in the future.
Increase employee productivity
According to Gallup’s report “The State of the Global Workplace,” 85% of employees worldwide feel disconnected from their jobs. Companies who implement plans for employee development however, experience a 17% higher productivity rate. Focusing on professional growth and providing new opportunities not only contributes to how productive your workforce is, but also how engaged and competitive employees are as a result.
3 steps to design an effective corporate training program
Step 1: Identify your team’s needs
The first step in designing an employee development plan is to identify your team’s needs. To do so, you must recognize the gap between the skills your employee’s currently have, and the ones the organization requires to meet its goals.
You can learn how to identify your team’s training needs in this article.
Step 2: Set clear goals and objectives
Once your development needs are identified, it’s crucial to set clear and specific goals for each employee. These objectives should be realistic, measurable, and aligned with the organization’s goals. Clear goal-setting will help employees understand what is expected of them and how their development contributes to the overall success of the company.
Step 3: Design and execute your corporate training program
Now it’s time to create development programs and activities that cater to the needs you’ve identified. These can include courses, mentorship, or other specific projects. The key is to make them interactive, relevant and personalized to increase engagement and ensure that knowledge can be applied to day-to-day situations.
Monitoring and evaluating success
Monitoring and evaluating the program is essential to its effectiveness. To do this, organize regular check-ins to review each employee’s progress and provide constructive feedback. You must also be prepared to adjust your plan where needed in line with feedback and any changes that might take place within the organization.
If you’re ready to harness all the advantages of a corporate training program, isEazy Skills provides the most comprehensive catalog of courses to improve your professionals’ skills. Enhance your training with dynamic interactive designed to boost engagement.