As more than 70 percent of businesses in United States are working from home in response to the novel coronavirus, classroom trainings schedule in the month of June have been either postponed or are cancelled. Does this mean employers are going to pause the re-skilling process?
Currently, unprecedented economic challenges have dampened the overall business environment. Companies are experiencing falling consumer demand and are losing excessive amount of money. Various companies are also expected to resort to downsizing to compensate for the loss. As a part of business cost cutting, companies are also expected to slacken their training expenditure.
But companies can’t completely stop the process of employee skilling and up-skilling. Increasing digitalization of business operation and growth means that companies need to adapt to the remote workstyle. This will lead to the need for organization-wide transformational training. Forward-thinking companies will need a COVID response strategy toe increase technical as well as non-technical training like teaching remote-working skills, remote-management skills, leadership skills in time of crisis and others.
Online training will come to the rescue of business to help them revive from the situation and also to maintain social-distancing protocols that will ensure safety. However online training process is highly dependent on technology. This will compel companies to resort to outsourcing the training to ensure efficient training delivery.Companies will be also looking to explore different digital learning methodologies like virtual learning, social learning, mobile learning and micro learning platforms.
According to a report by Ken Research the online training demand will have a value of more than USD 40 billion by 2025. Companies will be looking for development of customized training strategies in sync to its COVID response strategy to enable employees to adapt and evolve from the crises. ◊