To learn is to grow: Debunking Myths around Corporate Training

It is believed that hiring a trainer/coach or conducting training programmes costs a pretty penny. Although L&D has taken its position in the key trends to be seen in the HR space, studies prove that organisations are still reluctant in investing in such initiatives. Thanks to the pandemic, new options like microlearning, virtual workshops, remote-friendly HR technology, etc., have been introduced to offer organisations ample budgetary options!

According to a recent study, eLearning can reduce overall training time by 40% to 60%, increasing productivity and helping businesses cut down on various other expenses. These opportunities can be strategically tapped and put to good use by providing continuous training, once every three months, which can help employees hone their skills and improve their performance consistently.

Many organisations are still under the notion that training is only required at the induction stage or for under-performing employees. A recent study found that 87% of workers believe it will be essential for them to get training and develop new job skills throughout their work life in order to keep up with changes in the workplace. The data clearly shows that not only newly recruited employees are required to be trained but the whole workforce needs to be. Regardless of their experience, position, or designation, every employee requires proper training and development throughout their professional journey.

As technology advances and workplace tactics and strategies improve as a result of COVID-19, there is a need for organisations and employees to align their skills, knowledge, values, and abilities to keep up with these changes. One of the best ways to enhance their skills and knowledge is by providing adequate training to all employees periodically. This way, they’ll be able to better approach these emerging challenges and be future-ready in these trying times.

Investing in your employees is a two-way street. The more you train your employees, the more devoted they’ll become to striving to scale up your organisational growth. According to a learning report from LinkedIn, 94% of employees would stay at their organisation longer if they saw their management investing in their growth. Organisations that design and implement well-thought-out and structured development programmes for their employees experience higher levels of engagement, a more harmonious workplace culture, excellent outcomes, and ROI.

Since an organisation is the sum of its employees’ individual achievements, they should invest in the growth and upliftment of their most valuable assets for them to be higher-performing employees. It not only helps to build on their strengths but manages their weaknesses, preparing them to be leaders for the future and helps in building goodwill for the organisation.

Organisations are constantly in fear of increasing turnover rates. A study suggests that retention rates rise 30–50% for companies with strong learning cultures. Employees are less likely to leave if they believe that their organisation is investing in their growth with the goal of future progression. As a result of the pandemic, employees have realised the importance of growth and career opportunities as a critical element of the workplace culture. Even the organisations have prioritised and taken measures to not only look after their monetary needs but their growing needs as well.

Additionally, training provides a prominent rise in retention rate and builds a corporate culture that makes them feel happy, satisfied, and valued. These aspects matter a lot when it comes to building a higher-performing workforce and organisation. One needs to keep the emotional quotient in view to derive the best results.

The post-pandemic era has made us realise the importance of tapping into modern technology to thrive in the HR landscape. The most essential element for online training to be effective is employee engagement. Training plays an important role in identifying and transforming disengaged employees into a high-performing workforce for the future. A NovoED study showed that 80% of L&D leaders expect most corporate training to remain virtual even after the pandemic has ended and nearly 90% believe that the move from traditional in-person training to digital delivery will make learning opportunities available to more employees.

Organisations have come up with new ways to gauge this by introducing gamification as an essential part of the training modules to enhance the focus, participation and engagement levels of the employees. Additionally, playing interactive games, including fun videos and online forums, for the employees to have an open and healthy discussion allows them to collaborate better and assists in retaining knowledge and content from the training.