Unlocking the Potential of Your Workforce: How a Corporate Training Platform Can Close Skill Gaps and Future-Proof Your Business

Why do companies need corporate training?

Corporate training benefits both employers and employees alike as it serves to upskill or reskill your employees while serving to build the intellectual capital of your company. Companies must ensure that the training goals align with their business objectives while meeting employee needs and boosting employee engagement.

Companies can meet goals faster by investing in career growth and upskilling their employees. When personal goals align with corporate goals, both employers and employees stand to grow tremendously. Leading organizations have thus embraced emerging technologies to integrate online learning and training with employee schedules to ensure consistent upgradation of employee skills. This is where a corporate training platform comes in handy.

Corporate Training Platform Demystified

A corporate training platform is a software solution which comes equipped with the right sets of technical tools that offer a series of activities, learning pathways, and flexible, hands-on virtual training options to the employees in an organization. It employs textual and video content, gamification, interactive activities, virtual labs, etc to ensure a successful upgradation of your employee competencies.

LinkedIn’s Workplace Learning Report 2019 says that 94% of the employees surveyed said they would prefer to stick to their jobs if employers cared to invest in learning and development (L&D), while 48% of the surveyees admitted to having a better sense of purpose, when given an opportunity to spend more than five hours a week learning. A smart corporate learning platform powered by AI and ML tools is the right kind of investment companies need to make to streamline their training and close skill gaps.

So what is a skill gap?

The term ‘skill gap’ refers to the difference between the skills the employers look for in an employee and the actual skills the latter possesses. Identifying the gaps between the skills required for various roles and the actual skill sets employees possess is critical to address those skill gaps across the organization. A 2021 McKinsey study said 87% of the companies surveyed said they had skill gaps or expected to have it in a few years time.

So, how can you plug the skill gaps among your employees?

A corporate training platform is the smart solution your company needs to invest in to bridge those skill gaps among your employees and reskill them through online learning programs designed to meet any future challenge in the world of business.

Embracing a corporate training platform would endow your business with the right technical capabilities to unlock the untapped potential of your employees and future-proof your company against any challenge that may ensue later. Upskilling would render your employees resilient and adaptable to most future changes, however tough they come, be it market disruptions or revamped business objectives.

How a corporate training platform future-proofs your business

1. Protects your employees against market disruptions.

The platform would help you analyze your employee's current skills, which in turn would help you identify the skill gaps that need closing. Closing skill gaps would keep your workforce abreast of the new changes in the market while fortifying them with the right sets of capabilities to meet potential market disruptions.

2. Inculcates a future-forward mindset to learn skills for the times ahead

Thanks to a consistent, ongoing learning process and regular skills analyses, employees and administrators get a clear idea of future business changes and subsequently update their knowledge to meet the challenges involved. A future-forward mindset would help both employers and employees align better with the ever-changing markets and newer business objectives.

3. Helps employee retention

Regular training would also let your employees feel valued and motivate them to work harder to further their current career than switch jobs. This helps retention of your top performers and avoids the expenses of unnecessary hiring.

It is indisputable that technology needs to be at the helm of skills transformation for companies to remain competitive. But the role of humans is second to none when it comes to harnessing skills for better outcomes. A smart corporate training platform has the technical capabilities to track and measure skills across the workplace and offer solutions to plug the skill gaps identified. It also brings to the table scores of other benefits.

A Few Benefits of a Corporate Training Platform

i. Fosters a culture of continuous learning

Consistent efforts to upskill your employees render them well-trained and adaptable to future challenges.

ii. Enables global collaboration

A good corporate training platform comes equipped with smart collaboration tools to include your workforce spread across multiple geographies. Your global workforce working remotely can access the training sessions any time, any day, from anywhere.

iii. Offers ongoing access to resource materials

The content repository of the corporate training platform would offer easy access to all resource materials 24/7, be it on laptops or mobile phones.

iv. Enables faster skill building

The hands-on approach of a corporate training platform catalyzes faster upskilling while driving employee engagement. Virtual labs offer customizable learning experiences and real-time assessment of trainees for quicker learning.

v. AI/ML-powered tools promote a culture of learning and growth

AI/ML tools on a corporate training platform place personalized content in front of the employees, thus increasing their chance of finding the relevant content through increased employee engagement.

vi. Saves time and money

A corporate training platform is an e-learning solution that offers your employees the right tools to learn at their desks on flexible schedules by giving them the absolute freedom to leave their virtual training room if need be. This helps save time and is cost-effective for a larger audience, as your company gets to save all kinds of costs related to face-to-face training like overheads, traveling, materials, etc.

By embracing a corporate training platform, your L&D team can streamline training to stay ahead of the curve, and future proof your business against possible changes and the subsequent shifting of skills as required.