Corporate Education: Why Your Company Should Invest in It?
Investing in corporate education is the new strategy used by small, medium and large companies to promote professional development of its employees.
Recently companies have realized the importance of investing in corporate education because it is much more effective than paying for an external training or seeking a new professional in the market.
What are you going to read in this article?
- What is corporate education?
- How important is the Corporate Education?
- The CTheorporate University: Source of continuous learning
- Competitive advantages of companies that invest in corporate training
- Find and train talents
- Alignment with company strategies
- A high-performance team
- Team leveling
- Structuring corporate university courses
- Results of investing in corporate education
What is corporate education?
In his book, “Training and Development with a Focus on Corporate Education”, Roberto Madruga defines the corporate education as a practice applied by an organization, with the objective of developing and retaining the employees’ intellectual capital, giving them the opportunity to improve their career.
The author also points out that there is a difference between ‘Corporate Education’ and ‘Internal Training’. For him, isolated actions of internal training solve only specific problems that a company faces and does not guarantee the continuity of the learning process, which is the purpose of corporate education.
How important is the Corporate Education?
When a company understands the importance of the education and applies it to its employees with good planning, the employees realize the value in this initiative. This organizational strategy can help reduce turnover rates within the company. This is very advantageous for companies as well, because with this way it would be possible to print the company’s DNA on employees in a way that they will understand that they are important for the company. This will influence not only his increased productivity but also an improvement in the quality of service that the professional delivers.
The Corporate University: Source of continuous learning
The biggest difference between corporate universities and traditional universities is the appreciation of practical learning. In a traditional formation, a student has more generalist background.
In corporate university, professionals have the training of a specialist with knowledge and practice, aligned with the values of the company. It is easier to develop a leader who knows the culture of the organization than to simply hire someone from outside.
Companies that invest in corporate education can see the return on investment with internal talent. Apple is one of the companies that understood this and created Apple University in 2008, an initiative of Steve Jobs to find highly intelligent professionals, that are true rough diamonds.
The courses are designed with the purpose of developing professionals who have strategic functions within the company. Jobs had a thought that “geniuses are not born, they are made,” so it makes more sense to develop them than to look for them in a “lamp.”
Initiatives like these are important for employees to develop a lifelong learning mentality.
Competitive advantages of companies that invest in training
Investing in training brings benefits such as:
Find and train talents
Companies that invest in the creation of Corporate University will be advantageous when it comes to talent retention. This is an effective way to find and retain professionals who have a strong identity with the company’s brand, values and culture.
When the company has a clear methodology and can pass this knowledge to its employees in an objective way, employees become promoters within the company itself and outside of it.
Alignment with company strategies
Having a team that knows clearly the purposes of the company and knows what kind of the strategies should be applied to accomplish these goals is a great competitive advantage.
Professionals who are focused on the same business goals can help other employees who become discouraged in the middle of the journey. John C. Maxwell, author of 17 Principles of Teamwork, states that an aligned team produces an extraordinary multiplicity of abilities among all team members.
These skills when practiced together generate an exponential force for the company that becomes very difficult to copy, making the company stand out from its competitors in the market.
A high performance teams
The training within the company have many advantages for the employees such as the professional self-development. Within the company itself the employee can learn from people who works in that area and really know the content.
This enables continuous learning that allows the acquisition of a deeper knowledge and makes the employee grow professionally.
Having a high-performance team is desirable for every company. To achieve that, you must rise all employees to the same level. In this process it would be interesting to bring together professionals from different areas, to make the content interest of all and multidisciplinary.
After applying the content, it is important to make the evaluation of the learning to know which professionals need more investment in training.
Structuring corporate university courses
The structure of the courses of the corporate university should contain theoretical content. But the focus should be on the practical applicability of the knowledge. Otherwise, the employee becomes an accumulator of diplomas and day-to-day does not apply what was learned.
Taking a course within the corporate university should not be regarded as an award to the employee, but rather an investment in his training.
Therefore, the selection of these professionals needs to be strategic and democratic, giving everyone the opportunity to qualify. It should be clear to employees that they have been chosen because the company has identified a potential in them and therefore is investing in them with the objective that will bring a return to both the company to them.
Because courses are usually applied in working hours, class time needs to be optimized. It is ideal that the training are of short duration, since normally the worker needs to return to his/her routine of work.
Results of investing in corporate education
By 2015, the English language network Wise Up has reached impressive numbers. The company counted a total of 250 schools, with 8,000 employees and more than 60,000 students.
However, they had difficulty managing the Teacher Desk, the company’s internal online platform that provides content for students and employees of the company.
To solve this problem, the company contracted EADBOX’s distance education platform to improve this process.
With a complete structure to create and make the online training available, EADBOX helped Wise Up to get 80% savings by making the project more agile and resulting in an annual growth of 50%.
This strategy has improved the company’s video production quality by simplifying the franchise training process.
You saw in this post that Corporate Education is an excellent marketing strategy to have an effective and highly productive team. We see that companies that are investing in the creation of Corporate Universities increase the level of competitiveness because they create teams aligned with the objectives, mission, values and culture of the company.
In addition to discovering in-house talent, corporate education can help reduce turnover rates within corporations by developing a more engaged team.