Some Worth Knowing Facts & Figures About Corporate Training! Infographic
Corporate Training, which is also known as employee training and staff training, is not a new thing. It had been there since the times of the industrial revolution when informal training happened through apprenticeships. However, never before in history had the need for such training been felt so strongly as in the present times. Today’s market conditions are more dynamic and competitive than ever before. Thus, both employers and employees are feeling the need for corporate training to stay ahead of the competition.
Here, we have listed some worth knowing facts and figures about corporate training to make you better understand its importance:
- 1 in 3 employees leaves their organization within the first year as they don’t feel connected or engaged.
- The cost of losing an employee in the first year to the company can be up to three times the employee’s salary.
- The best strategy to retain employees is to invest in their development through corporate training programs.
- At least 70% of professionals agree that training and development opportunities greatly influence their decision to stay with their company.
- Gamification has emerged as a powerful training tool with an engagement rate of more than 90%.
- The entry of technologies like Virtual Reality (VR) and Augmented Reality (AR) is bringing down the training costs significantly.
- Ineffective training proves very costly for business; an estimated loss of an astounding $13.5 million per year per 1000 employees.
- eLearning or online training has proved more engaging, effective, economical, and even eco-friendly, than conventional employee training methods.