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Businesses can leverage government support to upskill employees, leading to higher retention and fantastic ROI by having more engaged and more productive teams.
CEOs need to have workforces that are ready to execute on ambitious plans. In an ever-changing business landscape, it is essential for CEOs to have a workforce that is equipped with the skills and knowledge necessary to adapt and thrive.
According to PwC's Talent Trends 2019 report, 79% of global CEOs are concerned about the availability of the right capabilities to meet the demands of a digital world [1]. This lack of qualified workers can lead to problems with innovation and customer service. To stay competitive, businesses must invest in upskilling their employees to ensure they have the necessary competencies for the future. With the right skillsets, businesses can unlock their full potential and thrive in an ever-changing landscape.
In a rapidly changing world, the ability to learn new skills and adapt to new situations is now more important than ever. That's why, according to a recent study by McKinsey & Company, upskilling and reskilling are the top priority for nearly 60% of business leaders [2].
And for good reason.
A 12-month soft skills training program showed a 250% ROI in only 8 months, according to a study carried out by the MIT Sloan School of Management [3].
With the right support, HR can be a powerful tool for driving business growth.
One way to achieve this is by sourcing external training grants. There are numerous opportunities available, and by taking advantage of them, businesses can save money on training costs while also sourcing outstanding solutions.
The Incumbent Worker Training Program, for example, is a federal subsidy that offers funding for companies looking to upskill their workers [4]. By leveraging this program, businesses can access incredible training opportunities without needing to break the bank. Additionally, certain state and local governments also offer their own grants for businesses looking to invest in training employees. Some states have maximum grant amounts of $200,000 per employer and state-wide total funding of $4M - $5M annually. This funding can be used to train employees in a variety of areas, including new technology, new processes, and new systems. By taking advantage of this program, employers can ensure that their employees are properly trained and prepared to meet the demands of the future.
A successful grant application means you are now in the business of finding the right training partner to help your company achieve its training goals by unlocking the full potential of employees.
According to statistics released by eLearning Industry, 89% of employees prefer to learn on-demand [5]. What this shows is that SaaS-based training solutions are the obvious choice in not only giving employees the skills they need to succeed but also in ensuring that their training is accessible.
By partnering with the right SaaS provider, businesses can access cutting-edge training courses and materials, while also having the support they need to deliver effective employee training programs. Plus, they can save time and money by leveraging the flexibility of on-demand learning. With a reliable partner, businesses can truly maximize their training ROI and ensure that their employees have the skills they need to drive success.
When global leader in commodity management services, EGC set out to find a new learning solution, they knew that they needed something transformational. They needed a solution that would equip employees with the skills they needed to succeed in an ever-changing marketplace. And they needed a solution that would be easy to use and produced the kind of employee engagement that would lead to real results. EGC found exactly what they were looking for in Amesite's AI-powered employee training platform.
With Amesite, EGC was able to give their employees access to the training programs they needed, while also enjoying a high level of employee engagement and satisfaction. And the results speak for themselves, after only a few months after implementing the upskilling courses, 91% of employees passed with scores higher than the target of 70%. This stands as a testament to Amesite's ability to produce real, results-driven training programs while also engaging employees.
If you're looking for a powerful and effective training solution for your business, and a true PARTNER to help you seek out grants and other resources to train, look no further than Amesite. With our cutting-edge AI technology and extensive library of courses and materials, Amesite makes managing learning seamless, and enables you to deliver results-driven employee training programs.
Contact Amesite today to learn to get your free demo and start training your employees for success!
[1] https://www.pwc.com/gx/en/ceo-survey/2019/Theme-assets/reports/talent-trends-report.pdf
[2] https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/to-emerge-stronger-from-the-covid-19-crisis-companies-should-start-reskilling-their-workforces-now
[3] https://mitsloan.mit.edu/
[4] https://www.commerce.nc.gov/grants-incentives/workforce-grants/incumbent-worker-training
[5] https://elearningindustry.com/39-statistics-prove-value-of-employee-training
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