Its not a secret that today the employee professional development
or, in other words, corporate training, is the key to a company
success. Corporate competitiveness increasingly depends on the employee
qualification level. One of the very first steps any company has to
take in order to optimize its activity is professional development of
its employees. According to the American Society for Training and
Development (ASTD), investments in staff training significantly
increase the company's financial performance.
With a training investment of $ 860 per employee the profit will
grow by 6%. Based on data from 575 companies within a 3-year period
researchers discovered an interesting fact. Companies that make large
contribution in employees training, have an average of 36% total
revenue as compared to 25% return in other companies. Such income is
45% more than a market average. Larger profits therefore lead to bigger
income of the company employees and higher stock prices (see Howard Community College for the details).
Well, what is corporate training?
In brief its improvement of employees professional knowledge and
skills that the company needs to conduct for its business success and
development.
Many companies invest 2-10% of payroll in training their employees. At
the end of the training period they expect return on investment,
increase in productivity, and hence, sustainable profit growth.
What should an effective corporate training include?
Comparison Chart
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