In recent years, businesses have increased spending on business training and education. In fact, in the United States, Corporate Training has increased as much as 14% from one year to the next (Bateman, Snell, & Konopaske, 2018). According to the Training Industry Report (2015), national training expenditures have increased 29% in management/supervisory training, 27% in employee onboarding, 21% in customer service training, 20% in interpersonal skills training (communication and teamwork), 19% in sales training, 19% in internet technology training, 16% in compliance/annual training, and 13% in executive development. Due to businesses realizing the importance of training as a strategic move and a way of gaining a competitive advantage, it accounts for well over $70 billion in the United States. Here are the top 10 reasons why every business should have a training program.
Corporate Training programs:
- Attract quality employees
- Help shape lean businesses
- Increase exponential growth
- Increase job satisfaction for employees leading to decreased absenteeism and turnover
- Help develop strategies
- Are a source of competitive advantage
- Improve collaboration and team building
- Increase customer retention
- Improve reputation and goodwill
- Increase bottom-line earnings
If you are looking to grow quickly, keep in mind that your employees are much more open to growth changes with business education and training. Does your business have a Corporate Training platform? Call us today to schedule your free initial consultation.
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Bateman, T., Snell, S., & Konopaske, R. (2018). Management (5th ed.). New York, NY: McGraw-Hill/Irwin.
Training Industry Report (2015). Training online. November/ December 2015. Retrieved from www.trainingmag.com.