What Is Corporate Training? Your 2024 Guide

Corporate training plays a crucial role in the development and growth of organizations. It is an organized method of improving the knowledge and skills of employees to enhance their performance and contribute to the company's overall success. This training is essential for keeping employees updated with industry trends, regulations, and technologies and improving their job-specific competencies and workplace skills.

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What is corporate training used for?

Corporate training provides employees with the necessary knowledge and skills to perform their job roles effectively. It involves various learning activities, such as seminars, online courses, on-the-job training, and mentoring, designed to enhance employees' capabilities and competencies. Organizations use corporate training in several ways, including skills development, compliance training, onboarding and orientation, and professional development.

Types of corporate training

Corporate training encompasses various types of training programs tailored to meet the specific needs of organizations and employees. Here are some common types of corporate training:

Skills-based training

Skills-based training focuses on developing job-specific skills required for employees to perform their roles effectively. It includes technical training for software developers, sales training for sales teams, customer service training for support staff, and leadership training for managers. Skills-based training ensures employees have the necessary competencies to excel in their job functions.

Workplace skills training

Workplace skills training focuses on developing non-technical skills, also known as interpersonal or workplace skills. These skills provide various benefits for employees, such as communicating effectively, making hard decisions, and problem-solving.

Read more: 9 Ways to Boost Employee Skills at Your Company

Compliance training

Compliance training aims to educate employees on legal and regulatory requirements and internal policies and procedures. Compliance training topics may include workplace safety, data protection and privacy, anti-harassment and discrimination, diversity and inclusion, and code of conduct.

Leadership development

Leadership development programs focus on helping employees and leaders develop managerial and executive leadership skills and competencies. These programs aim to enhance decision-making, strategic thinking, effective communication, team management, and problem-solving skills.

Onboarding and orientation

Onboarding and orientation training programs benefit new employees by familiarizing them with the organization's culture, values, policies, and procedures. These programs help new hires understand their roles and responsibilities, integrate into the company culture, and become productive team members. Onboarding and orientation training sets the foundation for a positive employee experience and long-term success within the organization.

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Who uses corporate training?

Organizations across many diverse industries and sectors utilize corporate training. Some of the most common industries that frequently use corporate training are health care, financial services, pharmaceuticals, information technology, retail, and many others.

With the emergence of online learning services, the corporate training market expects to see significant increases in the near future. In terms of value revenue, the industry projected to witness the fastest growth in corporate training is retail, according to a recent global corporate training market analysis from Skyquest [1]. This is due to an increased investment by these retail companies in training and developing their employees. 

Pros and cons of corporate training

Corporate training offers several advantages to organizations and employees but also comes with some challenges. Let's explore the pros and cons of corporate training:

Pros of corporate training:

• Enhanced employee performance: Training equips employees with the necessary skills and knowledge to perform their roles effectively, leading to increased productivity and improved job performance.

• Employee engagement and retention: Corporate training programs demonstrate an organization's commitment to employee development, leading to higher levels of engagement, job satisfaction, and employee retention.

• Improved organizational efficiency: Well-trained employees contribute to improved efficiency within the organization, leading to increased production and profitability.

• Adaptation to industry changes: Corporate training helps employees stay updated with industry trends, technologies, and regulatory changes, allowing organizations to adapt to the evolving market landscape.

Cons of corporate training:

• Costs and time investment: Developing and implementing comprehensive training programs can be costly and time-consuming for organizations. Training requires financial resources, dedicated trainers, and time away from regular work duties. Logistical challenges also pose a threat, such as sending employees to locations outside of their office if you have a dispersed workforce.

• Employee skill gap: Having some trained and some untrained employees may negatively impact the morale and effectiveness of your workforce. Ensuring all employees receive the same training is crucial. 

• Measuring training effectiveness: Training may be ineffective and irrelevant to the targeted workforce if they have a poor design and focus. Organizations need to develop metrics and assessment methods to measure the return on investment (ROI) and the success of training initiatives.

Read more: What Is the Skills Gap?

How to get started with corporate training

Corporate training requires careful planning and consideration of your organization's goals, training needs, and available resources. Here are some steps to help you embark on your corporate training initiatives:

• Identify training needs: Conduct a thorough training needs analysis to identify your organization's skills and knowledge gaps.

• Set clear objectives: Establish training objectives aligning with your organization's overall goals. Define the desired outcomes and competencies that employees should develop through training, which might be professional development, upskilling, developing technical or workplace skills, keeping up with industry trends, or onboarding new employees.

• Design training programs: Develop training programs that address the identified training needs. Consider a mix of training methods, such as instructor-led sessions, online courses, workshops, and hands-on practical exercises.

• Choose training delivery methods: Select the most suitable delivery methods for your training programs. Options include in-person training sessions, virtual classrooms, e-learning platforms, and blended learning approaches.

• Evaluate training effectiveness: Implement evaluation and feedback mechanisms to assess the effectiveness of training programs. Collect participant feedback, measure performance improvements, and track key metrics to determine the ROI of training initiatives.

• Stay current with industry trends: Stay updated with the latest industry trends, technologies, and best practices in corporate training.

Getting started with Coursera

If you’re interested in learning more about corporate training and other similar programs, completing a course or receiving a relevant certificate is a great place to start. On Coursera, you can enroll in some of the top courses in the world.

Check out Corporate Strategy by the University of London. This course requires no previous experience since it starts at a beginner level. It takes roughly 10 hours to complete, serving as an excellent introduction course.

If you want to move on to a more advanced course, consider enrolling in The Manager's Toolkit: A Practical Guide to Managing People at Work by the University of London. This course takes around 28 hours to complete and is recommended for those interested in leadership and management. Both courses include a flexible schedule and are entirely online.