The Importance of Corporate Skills Based Training Programs

Corporate skills based training programs are essential for companies that want to remain competitive in a market that is changing quickly. Employees are directly responsible for the operational performance of a business, and therefore can either drive forward its success or cause it to remain stagnant against competitors. Most C-suite executives are aware of the impact their employees have on the bottom line of a company. 42% of C-suite executives see their employees’ skills shortages as a barrier to remaining nimble amongst market changes in technology and talent, highlighting a huge need for these programs.  

Employee Performance Improves With Training

Employee performance is greatly improved by training programs that are customized to the goals of the business and the demands of the industry it operates in. Successful upskilling and retraining programs have been shown to improve revenue per employee by 24%. Instead of depending on generic programs, it is important to address specific skill gaps inside the organization, the employees’ developmental goals, the goals of the company as a whole, and considerations for industry trends and innovations, among many other levers. AI and expert opinions can also help refine the content of these training programs.

Conclusion

There are three main types of training programs that are typically offered to employees: onboarding, upskilling, and reskilling. Onboarding involves integrating new hires into an organization and familiarizing them with the culture and expectations of a business. Upskilling training programs are designed to provide new skills needed for current roles, such as training data scientists on a new application that allows them to produce insights more efficiently. Reskilling is designed to update existing skills so they are in line with new market trends and following the latest industry standards for productivity and efficiency. Reskilling and upskilling programs can be offered to an employee regardless of what tenure they are at, from entry level employees to executives.