The corporate training landscape has undergone a big transformation in the past decade. The next-generation corporate management systems demand re-skilling of employees. It is in this context that our industry experts have traced the following top five trends that will have a major impact on the global corporate training market.
1) AI has entered the training and development space
Corporate training experts are always on the lookout for the best possible training materials. Learning assets like articles, books, videos, and podcasts have their own set of advantages. In this era of personalized learning experiences, it has become even more important for corporate trainers to design programs which enhance the employees’ knowledge in a fruitful manner.
Through AI technology, corporate trainers can read text documents and detect concepts and learning paths. This technology helps improve the documentation of the training process, and create subsequent tests and training content.
One of the pioneers advocating for the inclusion of AI in corporate training is volley.com. This personal learning assistant is already being used by Starbucks, Comcast, and Continental Tires to detect employee knowledge gaps and generate personalized solutions.
2) Greater dependence on collaboration tools
Modern corporate training programs cannot run successfully in the absence of collaborative tools. For large organizations, these tools increase inter-organizational communication and build knowledge within their structures, while smaller organizations gain exposure to training modules from across the globe.
Improved employee satisfaction and major cost savings on travel and communications are the other advantages of adopting the latest collaboration tools.
3) HR learning software– The golden goose in the corporate training market
HR learning software is quite a popular corporate training option this year. According to our industry experts, more than 40 percent of large companies are interested in improving their HR technology. Thus, HR learning software has turned out to be an essential component in most corporate training regimens.
4) VR and AR are redefining the learning space
When it comes to the big, real-world training problems, AR and VR are the best go-to technologies. Most of these corporate training modules are looking to unearth and nurture better problem-solving skills in their employees.
Virtual Reality (VR) and Augmented Reality (AR) help learners understand how to handle emergency situations in a proactive manner. Specifically, in cases like safety training in a refinery and handling of active chemicals, the role of cutting-edge training is critical. AR and VR can simulate such emergencies and train the workforce accordingly.
5)?Content is still the king
Best class content never goes out of fashion. It is critical that the content of the corporate training material is easily understandable.
2018 is already witnessing an elevated number of companies in the content marketing space. Skillshare, LinkedIn, Udemy, Udacity, and Harvard Business Publishing are some of the big names to have entered the domain of content creation for training and development modules. These companies offer expert-authored content at a modest price, making it easier for small and medium enterprises to upscale their corporate training programs.
To sum up, the corporate training market is set to evolve in a positive manner in the next five years. The trends discussed above are not isolated developments. This explains why it will have a major impact on designing internal strategies for vendors in the global corporate training market.
Also, the latest discoveries in the science of learning alongside the convergence of technological innovations will play a vital role in designing the most apt corporate training modules.
Check out the Technavio report featured in this article :
Corporate Training Market in the US 2018-2022