Let’s Stop Wasting Billions on Corporate Training Each Year

We all know that soft skills like communications, leadership, teamwork, and management top the list of skills that employers seek. These skills are often why people actually get hired or promoted in their careers. No wonder tens of billions of dollars are spent on training for these skills each year.

Yet, 9 out of 10 frontline managers do not feel well-prepared to meet their business challenges. Why is that?

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A Better Way

apple_core.jpgIn an earlier post, I described why 80% of training is wasted, and how we are wasting hundreds of billions of dollars on that training. There has to be a better way.

So what would this “better way” look like?

To begin with, it would focus on the effectiveness of the core learning moment.

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Why 80% of Training is Wasted

According to the IBM Report on the value of training, two-thirds of global leaders identify talent and leadership shortages as their number one business challenge. And 71% of CEOs cite human capital as the leading source of sustained economic value – ahead of products, customer relationships, and brands. Soft skills are on top of the list of skills that employers seek. 

No wonder hundreds of billions of dollars are spent on corporate training every year. And yet, 9 out of 10 frontline managers still do not feel well-prepared to meet their business challenges, according to Development Dimensions International’s survey of 2,001 mid-level leaders worldwide.

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The Story of One SkillStore User

ha.jpgLate last year we had the opportunity to interview one SkillStore user. Her name is Ha Hoang, and she is an Account Executive in the West Region of Western Union. She has been using SkillStore since Western Union launched the second round of the Performance Management Fundamentals program.

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Supporting Clients Makes Us Happy!

We were thrilled to see our friends at Western Union showcased in a recent Training Magazine article on Strategies for Success (scroll to the second half of the article to see their contribution).  

In late 2013, Western Union launched a new initiative to enhance the effectiveness of their people managers across the organization. They started with a web-based certification program that included 10-minute videos on specific topics. 

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The Gift of Building People Skills

At SkillStore, we are focused on helping you build your communication and leadership skills. Those skills are useful in the office, but also at home… and definitely with relatives. As you leave behind work and spend more time with family and friends, access SkillStore to continue to build your people skills.

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