What is Fueling the Increase in Corporate Training Spending?

Business today is more competitive than ever and companies are finding the need to keep their workers as well trained as possible in order to compete and win against the competition. Over the past decade, money for things like training has been scarce even though there have been fundamental business changes, the likes that have not been seen for decades. So what have changed in the corporate world that is now making corporate training so popular? And what is making business consultants like Haris Ahmed Chicago based founder and CEO of Pragmatium Consulting, Inc. so in demand. Here are some of the reasons.

Increased need for efficiency

Around the world, businesses are feeling pressed to become more efficient. The Internet has allowed companies to go global fast and so your competitors are no longer in your community or city, they exist in every city in the world. This new business reality has pushed businesses to look at how they operate and how their employees function within their organizations and many companies are realizing they need new levels of efficiency from their employees in order to compete.

With employees already working longer hours and having increased stress, this efficiency can only come from their learning skills they do not already possess. Some are technology skills and others are business operation skills that combine to push productivity to new levels and have workers accomplishing more, sometimes while working less. More established businesses are seeing that in many new companies, the training in these new technologies and skillsets is paying off as small companies are able to compete with much larger ones. So, many are now embracing corporate training.

Much More Affordable

Corporate training has traditionally been very expensive, with the costs forcing organizations to decide between doing it, or spending that money on something that they are sure would bring tangible results. Today however corporate training has become much more affordable because of the introduction of corporate training online programs. These programs do not require having employees take long hours away from work at the employer’s expense and paying high per employee fees for the training. This type of training can be done at home, on weekends and even while the employee is commuting and at a fraction of the cost of typical corporate training. There can also be live online training classes where employees can interact with trainers and additional assistance and questions answered. These programs typically come with a package price that is designed to fit the organization and its budget parameters.

Easier to Monitor and Track Results

Corporate training used to be difficult and complicated to monitor and its results were sometimes hard to measure. Today the effects of corporate training is monitored closely using a variety of approaches that look at a range of criteria. Results are also measured based on what a company might want to see as areas for improvement. Organizations are given up to the second assessments of what is happening and what improvements are being made. This refining of the monitoring and results process has made corporate training an effort that can be supported more easily throughout the entire organization.

Corporate training is one of the fastest growing business sectors and for good reasons. Companies need to make sure their employees are prepared to go to battle against any size competitor.


Leave a Reply

Your email address will not be published. Required fields are marked *