Strategic HR Technology Investment: A Comprehensive Checklist for Global HR Teams
It’s no secret how corporate training is vital for every business. In fact, 68% of employees regard training and development as a critical policy in an organization.
The statistics don’t lie: Nearly 95% of employees will stay in a company that offers learning opportunities. Meanwhile, companies that invest in training earn a 24% increase in return on investment (ROI).
But of course, you don’t just offer training to your employees. There’s a need to plan, strategize, and optimize your programs. One way to do so is to harness the power of today’s technology.
In this article, we’ll share with you how to leverage technological resources for corporate training. Read on to learn how to use them to your advantage and for the benefit of your employees.
There’s no denying the importance of providing employees with corporate training. The benefits of corporate learning and development programs are multifold. They help you achieve the following:
To optimize your corporate learning management, what better way to proceed than harnessing the power of modern technology? Digital tools and technological resources used for training can streamline processes, facilitate better learning, and aid both mentors and trainees.
As such, many businesses invest in software technology for their training programs. The proof is in the numbers: The global training software market could grow from $52.7 billion in 2020 to $115.49 billion by 2028. It’s projected to achieve a compound annual growth rate (CAGR) of 10.34%.
But how do you make the most of technological resources for your business? Below are ways to leverage technology for your corporate training.
To guarantee robust corporate training, one must set a learning management system (LMS) in place. As such, many companies and organizations are investing in LMS. In fact, the global LMS market size might grow from $17.27 billion in 2022 to $70.83 billion by 2030 at a 19.5% CAGR.
To invest in LMS, establishing an e-learning platform is the first step to take. With the help of technology, here are learning resources you can develop for your training:
Digital tools and communications technology have become such a game-changer in business. With the advent of globalization, they have paved the way for remote work. Think of the rise of the gig economy and the business process outsourcing (BPO) industry.
As such, Ryan Hammill, Co-Founder and Executive Director of the Ancient Language Institute, recommends conducting training online. “Since you have employees working in different parts of the world, train them via digital platforms. Leverage online tools such as Zoom, Slack, and Skype.”
That said, consider utilizing technology and conducting the following:
Did you know that videos resonate well with people? They are easily digestible and highly memorable for your employees. On the other hand, blocks of text can be boring and overwhelming for trainees looking to learn.
What better way to spruce up your training than using video clips? They can help boost your trainees’ knowledge and skills. Videos can also aid in reskilling and upskilling your employees successfully.
That said, here are video content pieces you can create for training:
You might have heard of the extended reality (XR) technology. This technology provides people with immersive experiences. And using this applies to corporate training as well.
Linda Shaffer, Chief People Operations Officer at Checkr, suggests using simulations for practical training. “They enable trainees to hone their skills as if in real-life settings. Simulations allow them to practice and commit mistakes until they get better and better.”
That said, consider leveraging the following:
Corporate training programs don’t only impart knowledge and hone skills. They also require evaluations to see if trainees have learned enough during the actual training. These assessments help you identify areas for improvement and make some necessary changes in your programs.
Jerry Han, CMO at PrizeRebel, suggests offering interactive assessments using technology. “It’s time to go beyond the typical training evaluations. Make these evals creative, engaging, and fun so your trainees learn even better.”
As such, Han recommends the following:
The time has changed for the world of business. To make employees focused, productive, and engaged, you must provide them with the best experience. Gamification in the workplace is best for a fun learning experience. And this practically applies to corporate training.
Below are ways you can turn your training programs into exciting and engaging games:
Gerald Lombardo, Head of Growth at Popl mentions, “Gamification in the workplace has become an essential tool for modern businesses. It not only transforms training into an engaging experience but also taps into our intrinsic motivation to compete, achieve, and learn. By implementing gamification elements like leaderboards, point systems, badges, and quests, companies can revolutionize their training programs and unlock the full potential of their workforce”.
Earlier, we emphasized the importance of investing in LMS. However, we only covered establishing an e-learning platform for corporate training programs.
Anthony Martin, Founder and CEO of Choice Mutual, highlighted the value of LMS. “It isn’t just a digital platform used for corporate training; it also serves as the backbone of your programs. It allows you to organize training materials, assist mentors, facilitate trainees, measure performance, and improve programs.
The LMS goal is to provide both corporate trainers and employee trainees with a seamless and effective training experience. Here’s what to consider:
Corporate training is crucial in business. It primarily aims to enhance the employees’ knowledge and skills. Along with this is to address performance gaps, increase workforce potential, ensure employee satisfaction, increase business productivity, and more.
Utilizing modern technology is one way to optimize your corporate training program. To maximize it, consider the seven practical ways to leverage technological resources. But before taking the plunge, review your current programs, understand your employee needs, and decide what digital tools and technologies to invest in.
Harnessing the power of today’s technology can kick your corporate training up a notch. Ultimately, that can bring out the best in every employee for the good of your company!
Ans. Leveraging technology in training involves:
Using technology enhances training by making it more accessible, engaging, and effective.
Ans. Leveraging technology for competitive advantage involves:
By embracing technology, businesses gain a competitive edge, driving growth and success.
