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Outsourcing Training for Business Growth

In this post we talk about the corporate training industry, the need for outsourcing training and how a cloud-based learning management system (LMS) can help if training is outsourced.

Learning and development are necessary for the growth of businesses. As per a US study, firms that invested in training their staff obtained 86% higher returns as compared to those that had not.

Indian companies lag behind the global market with regards to training their employees. People Matters recently reported that the informal sector in India employs 90 per cent of its workforce with only 2.3% of them considered as formally skilled. In contrast, countries like the UK, Germany and South Korea have 68%, 74%, and 96% of their workforce formally skilled. With the rapid growth of India’s workforce, these numbers show that India is suffering a shortage of skilled employees.

The big question is – how do we quicken the development of business with learning and improvement in an aggressively competitive worldwide economy?

The answer may be to outsource training to companies that specialize in technical and corporate training. More specifically, to contract a third-party company to develop and deliver training programs for the employees on behalf of the company.

The key benefit to outsourcing training is that it allows the client to focus on their core business activities instead of on skill training. This is especially relevant for smaller organizations where a dedicated training team may not be set up.

The international market for Corporate Learning Management Systems (LMS) is expected to grow by over 24% by 2022. A cloud-based training platform is a must-have tool for growing businesses, especially if the training is outsourced to a third-party company. The nature of online learning and development is accurate, effective, efficient and scalable. Furthermore, technological advancements allow accurate data tracking in real-time. The company gets clear visibility on the training and its impact through the platform. It also aids in boosting performance while reducing cost and at your disposal as required. It is flexible to train anyone, anywhere, anytime using any device.

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