For a Successful Future Career, Get the Best Project Management Corporate Training
Corporate Training is an upcoming trend in every organization these days. In the last decade or so, every organization, big or small, as per their needs have invested in this.
Why Corporate Training Is Important?
Corporate training is
the process of educating employees using a variety of learning programmes
through a system of activities. It serves as a catalyst for employee
achievement, which in turn signifies the overall success of your company. As
per a survey conducted by LinkedIn, 94% of employees would remain at a firm if
it made an investment in meeting their learning requirements because they saw
training as being so essential to their professional life.
Corporate training can
be (based on who conducts it):
● Internal Training: These are conducted by the employees, for the employees at no
extra cost. Just that the employees’ time is utilized in this.
● External Training: These are conducted by external trainers who are hired and paid
to conduct these training. They are hired only when
○ Trainer in-house is
not available at all
○ Trainer in-house is
not capable of conducting effective training
Corporate
Training is conducted within the organization with an aim to
achieve the following benefits:
1.
Knowledge Sharing
Experienced employees
drive this training. These increase the capabilities of the organizations and
create backups for every task and process within. These could be either
technical or non-technical training. This also helps to ensure smooth delivery
and set expectations correctly. This is an intangible benefit.
2.
Enhance the skills of employees
Existing skilled
employees drive these training. These increase the capabilities of the
organizations. These could be either technical or non-technical skills
training. These help the organizations to encourage employees to add value by
improving processes and systems. Employees are also expected to think out of
the box to add further value. This is an intangible benefit.
3.
Add new skills and capabilities in the organization
Anytime an
organization wants to add a new skill not currently existing within the
organization, external trainers with those skills are hired and they train
existing employees. These are needed for new businesses & initiatives that
generate additional revenue. With the current trend, where technologies and
approaches to drive business are changing at a rapid pace, every organization needs
to keep with the pace. Sometimes that might be essential for surviving the
competition. This is an intangible benefit.
4.
Employee Motivation
Employees feel good
that the organization is thinking about them, investing in them and hence stay
motivated. Their learning curve improves which leads to many other secondary
benefits like control in attrition, improved delivery, etc. This is an
intangible benefit.
5.
Trainer’s Self-Actualization
Senior and experienced
employees get an opportunity to share their experience, skills, and knowledge
with others in the organization. This indirectly helps control attrition and
keep senior employees self-motivated. This is an intangible benefit.
6.
Social & Professional Causes
There is much training
which is done for CSR purposes. These help employees understand their social
& professional responsibilities which help them not only grow within the
organization as an individual and as a professional as well but also help the
organizations to get the best out of their employees. This is an intangible
benefit.
7.
Attrition control
Due to employee
motivation & self-actualization benefits, attrition can be controlled
effectively. Expenses per employee for much expensive training are incurred by
the organizations with employment conditions to retain employees too. Attrition
is one big problem that organizations are facing currently and comes with a
very high cost. At times, only this could be a reason why corporate training is
essential nowadays.
8.
Increase in Brand Value
This is an indirect
and intangible benefit wherein due to high employee motivation and good
feedback, employers’ brand value increases. We find surveys and rankings done
for organizations. Eg. Top 10 Employers to Work for.
If organizations’
brand value improves, better talent can be hired and retained.
9.
Tax Savings
This is a direct and
tangible financial benefit. Most of the costs incurred in conducting training
in any form are directly charged as expenses and hence the taxable income is
directly reduced. Also, the taxes to be incurred on services received due to
corporate training gets compensated with taxes on services provided. Savings in
the taxes (income & service taxes both) is a direct saving to the
organization.
10.
Ensure Ethics & Compliance
Senior employees,
compliance or HR team drive these training. Much of such training is mandatory
for every employee. Few are mandatory based on the position and type of work
you are involved in. These help to avoid or reduce ethics and
compliance-related issues. It helps to ensure that procedures are followed as
expected and policies are not violated. This is an intangible benefit.
If Return on
Investment (ROI) is calculated (which most organizations do based on the
above-mentioned points), almost all training conducted yields more than what is
invested in these training either in short or long term. Many intangible
returns talked above are also considered in this calculation.
One of the most
well-liked project management courses is PMP certification (Project Management Professional). All across the world, this
instruction is highly acknowledged across all businesses and geographical
regions. Employers from all around the world trust this PMP corporate training, and millions of
people have endorsed it and attested to its increased financial returns.
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