Four Factors That Make or Break a Successful Corporate Training Event
With U.S. corporate training expenditures eclipsing $90 billion a year, the pressure on learning departments to execute efficient and effective training programs is as high as ever.
As training becomes more high-tech, complex, and global in scale, many enterprises are choosing to delegate the details to companies specializing in outsourced training delivery services and solutions as a way to derive more value and flexibility from their programs.
Whether you manage all or some of your event planning in-house—or to an outsourcing partner—we have identified four factors that can make (or break) the success of your corporate learning program.
1. Leverage High-Performance Training Technology
Industry research has consistently supported the superior value of live, Instructor-led Training (ILT), however, the benefits of virtual learning and other technology-enabled learning solutions should not be underestimated. A U.S. Department of Education survey of more than 1,000 independent studies showed that live instruction combined with online and face-to-face experience had better outcomes than eLearning or ILT alone.
Clearly, technology plays an important role in the speed of delivery, increasing reach and improving the cost-effectiveness of training. L&D professionals should consider how the technology stack fits into their objectives and how best to leverage available technology to complement ILT so that knowledge transfer or the learning experience is not compromised.
For example, live virtual training technology, including a cloud-based lab solution with hands-on learning, is a great supplement to the classroom, offering the inclusion of remote learners seamlessly into an ILT environment that cultivates higher learning retention. On-demand learning can be used to supplement or reinforce classroom topics long after learners leave the training center classroom and also adds to learning retention and experience.
There is strong evidence that utilizing various learning technologies, with proper technical support, can have a profound impact on your business when planning a training event. For example, an IBM study recently found that training contributes to a 16% increase in customer satisfaction among companies that use online training software; 22% faster rollouts of products and services; and a 10% increase in the productivity of post-trained workers. This ROI is achieved not only because employees can apply their newly learned skills immediately, but also virtual training technologies eliminated geographic barriers that often minimized the value and effectiveness of a training program.
2. Outsource Event Planning and Management for Added Flexibility
Managing every single event detail is typically not part of a training manager's core competency or their defined business function; therefore, event delivery costs can incrementally eat away at training budgets, particularly if you don't have the expertise or relationships with vendors to ensure the most economical execution strategy.
When events grow beyond your internal capacity to manage them, consider outsourcing the details to a partner who can work on your behalf to ensure the most economical and conducive venues and offers the technical expertise, resources and support you need to deliver a successful event. Tapping corporate training outsourcing for event planning and management functions allow you to get back to the business of ensuring ROI of your training programs—spending only on the resources you need as your training expands and/or contracts.
Managed services providers can "fill in the gaps" that exist within your own resources. The best outsourcing companies can demonstrate the economies and efficiencies to be gained and offer strategic insight into how best to use available technology and resources to get the most out of your training program.
3. Learner-Centered, Performance-Based Training Strategy
At the center of every training program is content. Your job as an L&D professional is to ensure the delivery of the highest quality, most relevant content that offers tangible business value to your organization. Experts suggest that a successful L&D strategy should be focused on developing knowledge and skills that have a direct impact on—and alignment with—business objectives.
Performance-based content starts with gathering the development of a content strategy that considers internal stakeholders goals and objectives and learners. It's a best-practice to integrate a strategic training program with clear performance goals through a multi-pronged approach that incorporates custom, targeted course development, digital platform design, relevant training content, and post-training measurements and KPIs that align with overall business goals.
4. Cost-Efficient and Productive Training Program Implementation
As the corporate training industry has grown into a nearly $100 billion business, outsourcing companies have emerged focused solely on executing professional learning programs to help achieve your desired results. By engaging with outsourcing partners, companies save staff resources and time. These strategic training specialists also can improve a company's effectiveness as a training delivery partner that handles all the details required to realize a successful implementation.
Learn more about how MicroTek helps engage learners through virtual training here: