#TimeToTrain - Invest in Corporate Training
“Corporate training” refers to the process of providing education and development opportunities to employees of an organization. The goal of corporate training is to improve the skills, knowledge, and performance of employees, and to align their abilities with the goals and objectives of the organization. Corporate training can take many forms, such as:
Classroom-based training: This type of training involves employees attending workshops, seminars, or classes led by an instructor.
Online training: This type of training involves employees completing training modules or courses online, delivered “live” or “recorded”.
Coaching: This type of training involves employees receiving one-on-one or small-group guidance and support.
The return on investment (ROI) in corporate training can be measured. ROI is a way to determine the financial value of an investment by comparing the costs of the investment to the benefits it generates. To measure the ROI of corporate training, organizations can use a variety of metrics such as:
Increased productivity and performance: measure the increase in productivity and performance of employees who have undergone training, compared to those who have not. This can be done by tracking metrics such as output, quality, and customer satisfaction.
Reduced turnover: measure the impact of corporate training on employee retention by tracking the turnover rate of employees who have undergone training, compared to those who have not.
Compliance with industry regulations: measure the impact of corporate training on compliance with industry regulations and standards by tracking the number of compliance-related incidents before and after training.
Increased innovation and creativity: measure the impact of corporate training on innovation and creativity by tracking the number of new ideas, patents, and other creative outputs generated by employees who have undergone training.
Improved diversity, equity, and inclusion: measure the impact of corporate training on DEI by tracking the number of reports of discrimination, bias, and other DEI-related issues before and after training.
Cost savings: measure the cost savings generated by corporate training by tracking the costs associated with turnover, compliance issues, and other training-related expenses.
It is important to note that measuring the ROI of corporate training can be challenging, as it can be difficult to attribute specific outcomes to training alone, given the many variables that can impact organizational performance. However, tracking these metrics can help organizations understand the value of their training investments and make more informed decisions about future training initiatives.
Pam Jackson, PhD, an organizational and individual behavioral economist based in Dubai, United Arab Emirates, and serving clients globally, designs and delivers corporate training and coaching for building high-performing teams, including topics such as diversity, inclusion, equity and belonging; communicating effectively; leadership at any level; and psychological safety.
Contact her team to learn more and to book your training, which can be delivered online or in person.
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