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?

Maybe one clue lies in the fact that about 80% of that training is wasted. We think the root cause for this is that today’s training methods – both in-person and online – have severe shortcomings:

  • Instructor-led workshops are expensive, time-consuming, and hard to scale and standardize, and thus are not a realistic option for most organizations. Also, they do not allow for frequent, on-demand reinforcement and practice that is integrated into learners’ work lives. Not to mention, millennials tend to hate long lectures and classroom settings.
  • Web-based training typically offers few opportunities to practice these skills interactively, get specific feedback to help improve these capabilities, and learn with other people in a social learning environment.

The good news is that mobile and web technology have developed far enough in the past five years that we don’t have to keep doing things the same old way. We now have the means to combine the best of both worlds: (1) the engagement and social interaction of instructor-led training, with (2) the scalability, accessibility, and cost-savings of elearning.

That is why we are thrilled to announce that we’re coming out of stealth mode to publicly launch the SkillStore app. I invite you to try our product for free and give us your feedback.

Over the past nine months, we’ve been working with leading companies like Western Union, Comcast, and SAP to build out our product. Our video-based, social-learning app is helping companies improve their employees’ communication and leadership skills in over 40 countries.

SkillStore is built on solid learning science principles to enable active learning through live video practice and peer feedback; the app is accessible anywhere from Web and mobile devices. We are on a mission to transform corporate training and make the tens of billions spent on it provide much greater return on investment. This is why my co-founders and I left our roles leading a nonprofit college funded by leading donors (Bill Gates, Reed Hastings, Walton family and others) to start SkillStore last year.

As Joshua Craver, Vice President of Talent Management at Western Union says, “What separates SkillStore is that, unlike other online learning solutions that focus on providing content, SkillStore enables live video practice with peer feedback. People don’t just watch videos and take quizzes – they practice with each other through the app. Apart from being a more effective way to build critical skills, this helps Western Union managers in countries around the world feel more connected with each other – as they learn together.”  Employees don’t work in isolation; they shouldn’t learn in isolation either.

Want to learn more about SkillStore? Request a demo below to see how SkillStore can improve management and leadership programs at your company.