According to a recent forecast done by the market research analysts of Technavio, the worldwide market for corporate training is expected to have a Compound Annual Growth Rate of approximately 10 percent. The analysis of the firm also highlights the top drivers in the training market that contribute to the surge of the global market of corporate training. These drivers are as follows.
Emergence of e-learning corporate training modules that is highly cost-effective The budget of any established organization takes into account expenses on corporate training. In fact, many business' productivities depend on the way its new recruits are trained and how well its existing workers have been upgrading their job-related skills. As such, more companies today are embracing cost-effective and innovative ways to impart training to their employees.
There are several expenses that are associated with classroom or traditional corporate training. Some of them include facility charges, trainer and employee time, travelling expenses that could be quite high. Additionally, there are high expenses involved in printing course materials as well as assessment papers that are not incurred if they are made available online for the employees. Employees are just required to be given the necessary access to this digital content and Internet. The transition to e-learning corporate modules from traditional training can save long working hours of employees.