Corporate Training: Aces Up The Sleeve

Post the recession of 2008-09, corporate training took a huge hit, as it was a discretionary spend. We are witnessing huge growth in corporate training because organizations are trying to tackle the massive problem of skillcapability gaps.

- Niharika Jalan

The talent war is getting fiercer with every passing day, and organizations are pumping billions into their corporate training programmes to ensure that they remain ahead of the curve. According to Bersin by Deloitte 2014 Corporate Learning Factbook, companies worldwide are spending more than $130 billion on corporate training. Companies in the US have seen a 15% increase in spends for training and development (T&D) to $70 billion, a seven-year high. The rise in corporate training is a good indicator of economic activity. Post the recession of 2008-09, corporate training took a huge hit, as it was a discretionary spend. We are witnessing huge growth in corporate training because organizations are trying to tackle the massive problem of skill-capability gaps. They are therefore adopting various solutions such as corporate training workshops, e-learning, mobile based learning, in-house L&D and video training to tackle the issue.

What Best-in-class companies are doing globally

Current estimates show that the corporate training market is expected to generate revenues of around Rs 32 billion by FY2020*. Global expansion, increasing competition and the emergence of a record number of start-ups are forcing companies to look inwards. There has been a significant shift towards outcome-oriented learning in Indian organizations for both leadership training and sales training programmes.