Corporate Training – What Do Statistics Say

TinCan xAPI

June 29, 2018

In the ever-evolving world, corporate learning trends are transforming constantly in parallel with technological advancement. To cope up with this, it is important for the organizations to keep pace with the evolving trends in corporate training. The focus of this blog is centered towards the latest trends in Training and Development of employees in corporate sectors.

–> In the year 2017, US training expenses rose significantly by 32.5% i.e. 90.6 billion USD. Training expenses like travel, facilities, equipment & accommodation cost increased from 26.1 billion USD to 44.5 billion USD.

Source – Training Magazine

–> Employees are disengaged from their training & development, which is costing an annual loss of 500 billion dollars in the United States.

Source –  Unknown

–> Around the globe, only 13% of employees are actually engaged in their training.

Source – Gallup

INTERPRETATION“The spends of corporates on Training and Development of their employees isn’t fetching the intended ROI. Lack of means to monitor and control the Training and Development activities being one major reason for this, employee distractions with other activities adds more to this, producing poor results from Learning and Development spends by the corporates.”

–> According to a survey, it is stated that 76% of the employees are looking for a career growth opportunity within their organization.

Source – Unknown

–> 51% of currently employed adults in the U.S. say they are searching for new jobs or watching for new job opportunities

Source – Gallup

–> With the poor training of employees, 40% of employee leave their job in the first

Source – Go2HR

INTERPRETATION“Learner engagement in the training is of top-most priority. A better training delivery mechanism is as important as the training content and materials. More engaging learning content is possible through gamified learning, videos and microlearning sessions. So, the emphasis shouldn’t be just confined to right training but also consider right methods of training”

–> The e-learning market will exceed $200 billion by 2024, according to a new research report by the market research and strategy consulting firm.

Source – Global Marketing Insights

–> The rising trend of “bring your own device” (BYOD) among corporations is spurring the growth of the e-learning market as it allows users to access training on their devices without time restrictions.

Source – Training Magazine

–> Gamification is not a “video game at work”—a game veneer that attempts to create motivation through points and badges, fun and games. It isn’t about masking work by putting a game on top of it.

Source – Training Magazine

INTERPRETATION“Latest trends of Corporate training is changing from classroom to online learning portal. E-learning is solving most of the problems in corporate learning methods like the implementation of game-based learning for engagement, small bytes of learning to avoid the distraction of learner, mobility to use any device for accessing course gives freedom from a specific environment access. So, it is important to design and devise corporate training delivery being employee-centric, understanding all different aspects that make the employee more engaged and get the best of the training spends.”

–> According to the Society for Human Resource Management (SHRM), employee turnover can be as much as 50% in the first 18 months of employment. Employees leaving the workforce can be expensive and put pressure on highly burdened resources as well as a company’s financial bottom line.

Source – Gallup

–> Companies investing $1,500 or more per employee per year on training average 24 percent higher profit margins than companies with lower yearly training investments do.

Source – HR Magazine

–> Average training expenditures for large companies increased from $14.3 million in 2016 to $17 million in 2017. Likewise, the number of small companies rose to $1 million from $376,251 in 2016.

Source – Training Magazine

INTERPRETATION“As much as Learning and Development programs are essential for the organisations for various reasons – employee productivity, internal compliance, statutory and regulatory compliance etc. – it is desired that the cost for L&D programme is kept under control from the financial health point of view.”

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