With the world-wide expansion of companies and changing technologies, Indian Organizations have realized the importance of corporate training. Training is considered as more of retention tool than a cost.
Today, human resource is now a source of competitive advantage for all organizations. Therefore, the training system in Indian Industry has been changed to create a smarter workforce and yield the best results. With increase in competition, every company wants to optimize the utilization of its resources to yield the maximum possible results. Training is required in every field be it Sales, Marketing, Human Resource, Relationship building, Logistics, Production, Engineering, etc. It is now a business effective tool and is linked with the business outcome.
With increase in awareness of corporate training in Indian Industry, a gradual shift from general to specific approach has been realized.
According to NASSCOM (National Association of Software and Services Companies), the IT corporate training market is expected to reach Rs 600 crore in 2010 from Rs 210 Crore in 2006.
In Indian market, 50% of the training companyÂ’s revenue comes from the retail training and rest from other segments.
On the other hand, in many organizations training is regarded as non-essential or a need based activity. Some organizations start a training department in order to look modern. In fact, some organizations are headed by unwanted employees rather than employees of outstanding merit. While some organizations do not have a separate budget to hire highly qualified trainers for training and development.