Tag: Corporate Training

  • Hire, Train, Deploy: Why Short-Term Learning is Redefining Corporate Training

    This article has been contributed by Mr. Neeraj Agarwal, CEO of RuralShores Skills Academy

    India’s workforce is undergoing a profound transformation, and now more so with automation, AI, and digital disruption redefining roles at an unprecedented pace. The skills in demand today, may look entirely different tomorrow. NASSCOM estimates that nearly 65% of the current job roles will evolve within next five years, underscoring the urgency for businesses to rethink how they prepare talent.

    Amidst this transition, one model is gaining prominence, which is Hire-Train-Deploy (HTD). In contrast to age-old Learning & Development (L&D) initiatives that are based on long, theory-driven training, this focuses on speed and accuracy. It discovers potential candidates, trains them with job-related, future-proof skills, and deploys them in positions where they can contribute from day one. This combination of speed and precision is rapidly reshaping the manner in which corporate training is conducted within organizations.

    The Emergence of the Hire-Train-Deploy Concept

    The concept picked up a lot of attention over the last few years, particularly among sectors that experience severe skill deficiencies like IT, banking, healthcare, logistics, and customer service. Rather than training ahead of potential demand, businesses initially employ individuals who show aptitude and dedication, next equip them on exactly what is needed to succeed in the job, and lastly place them in a position nearly at once.

    This focused method closes the gap between employment and employability, minimizing mismatches between higher education learning and industry needs. A case point is that a graduate can hold a degree in computer science but be short of skills in certain cloud tools or cybersecurity procedures that employers need. The model fills this last-mile skills gap by making the person work-capable within weeks as opposed to months.

    In addition to efficiency, Hire-Train-Deploy also promotes inclusivity. It is employed by several organizations to increase activities in Tier 2 and Tier 3 cities, where access to pre-trained talent can be limited. By employing this model, organizations being able to create pipelines of professionals who are both culturally compatible and technically competent, accelerating integration into teams and minimizing attrition.

    ROI vs. Traditional L&D Programs

    One of the most important reasons why HTD is gaining popularity is that it offers a higher return on investment (ROI) over conventional L&D. Traditional long-term training programs, though invaluable for basic information, may demand considerable time and monetary investments without promising job retention or instant usability.

    By design, it is demand-driven, lean, and focused. It is linked to the availability of jobs, and therefore, firms will only invest in skills they immediately need. This way, learning converts into productivity literally as soon as troops are deployed.

    For workers, the ROI is equally straightforward. Rather than months of generic training, they get bite-sized, focused modules that immediately increase their employability. More significantly, they can visualize a clear line from learning to earning that breeds motivation and allegiance. This synergy of business efficiency and career growth makes this model a welcome contrast to conventional training investments.


    How upskilling your employees help your organisation.
    Upskilling, or reskilling, is a smaller investment than hiring and training a new worker. As you reskill your employees, you create a more well-rounded, cross-trained workforce, and increase your team’s effectiveness.


    The Role of AI and Automation

    The emergence of AI and automation has also up the urgency of Hire-Train-Deploy. As work is reimagined and new work appears, the shelf life for skills is declining. McKinsey forecasts that by 2030, 375 million workers worldwide could need to change jobs or learn new skills in order to remain useful. Conventional L&D systems, too often inflexible and sluggish, find it difficult to cope with this magnitude of change.

    With this adaptive and modular character, it fits more effectively into this reality. The workers can be given a rapid education in skills of the future, like analytics on data, AI-supported workflows, or industry-specific digital platforms. Rather than general theoretical education, HTD facilitates just-in-time learning that is immediately relevant to changing job functions.

    AI itself is also revolutionizing the way such programs are presented. Adaptive learning platforms can digest the performance of an individual learner, detect knowledge lacunae, and provide targeted micro-learning interventions. For example, a data analyst training program employee who is having a problem with SQL queries can receive additional practice modules automatically aimed at his/her weak areas. Such a combination of AI-based personalization with the HTD model builds a living, dynamic learning environment where training is not static but constantly adaptive.

    Challenges in Scale and Motivation

    Though it has many benefits, the HTD model also has its own challenges. Scaling this by geography entails strong infrastructure, uniform curriculum standards, and quality delivery methods of training. Without these, there will be a possibility of inconsistency in learning results.

    Learner motivation and engagement are equally important. Hire-Train-Deploy programs are short and intense, requiring high levels of commitment from attendees. The haste to acquire new skills while setting up for imminent deployment is overwhelming. In contrast to the conventional academic process, which takes years, HTD condenses the process to weeks or months, necessitating discipline and resilience.

    Organizations that are able to overcome such challenges are the ones that integrate support systems within the training experience. Mentorship schemes, peer-learning circles, gameified content, and handholding post-deployment proved to be instrumental in keeping the motivation sustained. Ongoing feedback loops also keep learner feeling supported and appreciated, lowering dropout rates and boosting confidence.

    Redefining the Future of Corporate Training

    The Hire-Train Deploy Model
    The Hire-Train Deploy Model

    The HTD model is not merely a strategic reaction to talent deficits, since it heralds a shift in paradigm for workforce development. It marries the needs of responsiveness that businesses need with the aspirations of a new generation of professionals demanding instant learning, experiential exposure, and verifiable career growth.

    For businesses, HTD ensures that investments in training are being returned as business outcomes in the form of faster onboarding, improved productivity, and reduced attrition. For employees, it delivers career-upgradeable competencies, meaningful work, and longer-term employability in the era of persistent change.

    As companies continue to evolve in the twin shadows of AI and automation, short-term mission-based models of learning like Hire-Train-Deploy will more and more define the future of work. For India, home to a huge reservoir of youth talent, this model is not merely a business strategy but an economic and social empowerment. Unleashing opportunities in low-penetrated areas, driving inclusion, and enabling millions of people for employment of the future, HTD has the capability to drive businesses as well as communities.

  • BetterUp: Transforming Companies Through Personal Coaching

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by BetterUp.

    The value of coaching has increased significantly in today’s constantly changing corporate world. Just like a sports coach helps an athlete achieve his potential, a workplace coach guides employees to build skills, enhance performance, and meet organizational and individual goals.

    When it comes to corporate coaching, you can’t ignore BetterUp’s contribution to the industry. The California-based company connects employees with certified executive coaches who can help them grow professionally and emotionally. Let’s dig in to learn more about BetterUp, including its founders, startup story, products, funding, challenges, growth, and more.

    BetterUp – Company Highlights

    Company Name BetterUp
    Headquarters San Francisco, California, United States
    Sector Corporate Coaching and Training
    Founders Alexi Robichaux and Eduardo Medina
    Founded In 2013
    Valuation $4.7 billion (2021)
    Website Betterup.com

    BetterUp – About
    BetterUp – Industry
    BetterUp – Founders and Team
    BetterUp – Startup Story
    BetterUp – Mission and Vision
    BetterUp – Business Model
    BetterUp – Revenue Model
    BetterUp – Products and Services
    BetterUp – Challenges Faced
    BetterUp – Funding and Investors
    BetterUp – Mergers and Acquisitions
    BetterUp – Growth
    BetterUp – Partners
    BetterUp – Awards and Achievements
    BetterUp – Competitors

    BetterUp – About

    BetterUp is a mobile-based company delivering transformative coaching experiences to individuals and workforces to drive productivity, engagement, and retention at scale in the companies. Top organizations, including Workday, Federal Aviation Administration, and Google, trust the company.

    BetterUp helps businesses invest in their employees, boasting a 130% increase in job performance via its platform. Moreover, its solutions helped companies increase retention by 68%, bet new sales by 7x, and productivity by 66%.

    BetterUp – Industry

    The global market size of the corporate training and coaching industry was valued at $151.75 billion in 2021 and is projected to grow to $487.3 billion by 2030, with a CAGR of 8%. Corporate coaching involves training and learning activities to empower employees to perform better in the workplace.

    The Covid-19 pandemic negatively impacted the industry by causing 195 million job losses worldwide. Some companies that still maintain top positions in the corporate coaching and training industry are Skillsoft, LinkedIn Learning, Udemy for Business, Pluralsight, Cornerstone on Demand, and OpenSesame.

    BetterUp – Founders and Team

    Alexi Robichaux and Eduardo Medina are the co-founders of BetterUp.

    Alexi Robichaux

    Alexi Robichaux - Co-founder and CEO, BetterUp
    Alexi Robichaux – Co-founder and CEO, BetterUp

    Alexi Robichaux attended the University of Southern California for a B.A. in Political Science and Public & Non-Profit Management. He has been the Partner and CFO at The Glenroe Group, Product Manager at Socialcast, and Director at VMware. At present, Alexi is the Co-founder and CEO of BetterUp.

    Eduardo Medina

    Eduardo Medina - Co-founder and COO, BetterUp
    Eduardo Medina – Co-founder and COO, BetterUp

    Eduardo Medina completed a B.S. in Business from the University of Southern California and an MBA from the University of California, Berkeley, Haas School of Business. He is the ex Associate Consultant of Bain 7 Company, Associate of Altamont Capital Partners, and Growth Consultant of Envisions Schools. Now Eduardo is the Co-founder and COO of BetterUp.

    BetterUp is a team of over 3,000 coaches, 50+ behavioral scientists, and 500+ employees.

    BetterUp – Startup Story

    Alexi Robichaux and Eduardo Medina founded BetterUp in 2013. After Alexi’s first startup was acquired, he found himself in an unexpected place. At 25, he became a Fortune 1000 company executive and regularly met with the CEO. At board meetings, he felt like being the court jester among 50, 60-year-old senior leaders. Public speaking was not a big deal for him, but during that period, he felt nauseated as he hoped to make it through without becoming physically ill.

    He was pretty discombobulated through that experience and wasn’t caring for himself. Finally, he realized he needed a pause and take time off from work. He read positive psychological books and talked to therapists, but none worked. At last, he went hiking in Spain, and through personal coaching, communicating with colleagues, and endless soul searching, he realized the problem: himself.

    Tired of struggling emotionally and physically, Alexi decided to make a change. He wanted to prove to himself and Silicon Valley that it was possible to build a startup without trading between peak performance and taking care of yourself and the people around you. So, he and co-founder Eddie Medina incorporated BetterUp, a coaching platform to connect employees with certified executive coaches who could help them grow their careers.

    BetterUp – Mission and Vision

    BetterUp’s mission is to help people everywhere pursue their lives with greater clarity, purpose, and passion.

    BetterUp – Business Model

    Every aspect of the BetterUp experience, including personalized coaching programs, learning content, customized reporting, etc., is scalable across the client’s organization. The company delivers personalized coaching and learning via one-on-one and group experiences aligned with personal and business goals. Its platform runs on the built-in brain power of the leading global behavioral scientists and H.R. thought leaders.

    Although BetterUp’s methods are backed by science and powered by technology, its approach is human. It matches employees with the best-in-class coach using A.I. to unlock their potential and improve their performance, purpose, and mental well-being.

    BetterUp – Revenue Model

    BetterUp generates revenue by charging a fee to customers using their professional and research-driven coaching services.

    BetterUp – Products and Services

    BetterUp offers two products- Lead and Care, along with Sales Performance, Executive, and Diversity & Inclusion solutions.


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    BetterUp – Challenges Faced

    In April 2022, BetterUp announced to modify its coaches’ contracts which stirred up a revolt within the company. Two key issues were coaches’ pay and a new rating system influencing coaches’ fees. The company announced a plan to cut the stipend coaches used to research clients, note-taking, and assign activities.

    BetterUp – Funding and Investors

    Over 7 funding rounds, BetterUp has raised a total of $566.9 million. Series E is the company’s latest funding round and was conducted on October 8, 2021. 25 investors back the company, and the main ones are Mubadala Capital Ventures, Morningside Venture Investments, ICONIQ Growth, Lightspeed Venture Partners, and Wellington Management.

    Date Round Number of Investors Money Raised Lead Investor
    October 8, 2021 Series E 9 $300 million ICONIQ Growth, Lightspeed Venture Partners, and Wellington Management
    February 25, 2021 Series D 9 $125 million ICONIC Growth
    June 12, 2019 Series C 7 $103 million Lightspeed Ventures Partners
    March 28, 2018 Series B 5 $26 million Lightspeed Ventures Partners
    November 16, 2016 Series A 6 $10 million Threshold
    November 6, 2016 Seed Round 7 $2.9 million
    April 1, 2015 Pre Seed Round 1

    BetterUp – Mergers and Acquisitions

    BetterUp acquired 2 companies, including Impraise on September 17, 2021, and Motive Software on September 17, 2021.

    BetterUp – Growth

    In February 2021, BetterUp witnessed a growth in customer base by 80%, with a revenue retention rate of 170%. Moreover, the company reached $100 million in annual recurring revenue later in July 2021.

    In the first half of 2021, it achieved an aggressive 2x growth. BetterUp’s valuation grew from $125 million in 2019 to $1.7 billion in February 2021 and $4.7 in October 2021. Furthermore, the company doubled its corporate employee headcount to 500+ in the latter half of 2021.

    What Is BetterUp?

    BetterUp – Partners

    BetterUp has partnered with the following:

    • Carahsoft Partner
    • International Coaching Federation
    • Invictus Games Foundation
    • U.S. Air Force

    BetterUp – Awards and Achievements

    BetterUp has won many awards and recognitions, including:

    • Great Place to Work and Fortune named one of the 2022 Best Small & Medium Workplaces.
    • Won Brandon Hall 2020 Group Gold for Excellence in Technology Award.
    • Inc. Magazine included BetterUp on the Annual List of Best Workplaces for 2020.

    BetterUp – Competitors

    Here listed are BetterUp’s main competitors:

    • CoachHub
    • Ezra
    • AceUp
    • Simply.Coach
    • Ceresa
    • ClientFol.io
    • LifeLabs Learning

    FAQs

    What does BetterUp do?

    BetterUp is a mobile-based company delivering transformative coaching experiences to individuals and workforces to drive productivity, engagement, and retention at scale in the companies.

    Who are the founders of BetterUp?

    Alexi Robichaux and Eduardo Medina are the co-founders of BetterUp.

    When was BetterUp founded?

    BetterUp was founded in the year 2013.

  • How do Cross-Training Programs add to the Overall Efficiency of your Firm? – Mr Sagar Pandey, Head- Human Relations, Swastika Investmart Limited

    This article has been contributed by Mr. Sagar Pandey, Head of Human Relations, Swastika Investmart Limited

    Most companies are understaffed most of the time. So, while the human resources department is busy filling the vacancies created by people who are on notice or about to leave, they get stacked with new openings.

    This, in turn, traps the entire onboarding team in a vicious circle. Attracting the right candidate for a particular job can be a tough task. Segregating skills and funneling out the ideal person is all essential to save the time involved in the hiring process.

    Obtaining a talented candidate’s attention is another difficult process. Moreover, maintaining overall efficiency and avoiding unwanted disruptions to sustain the incessant workflow is imperative. Well, in such instances, cross-training could function as a lifesaver and could solve multiple problems at once.

    We’ve all heard “Jack of all trades, but master of none,” but this is only half the truth. This adage can be paraphrased as “Jack of all trades, but master of none is frequently better than master of one.

    Cross-training could help nurture “jack of all trades” by making employees learn the skills from other departments or by contributing to operations that are beyond their department, such that their daily vital results are not affected, and this could be helpful in multiple ways.

    Simply put, it is the practice of training employees for several positions within a single corporation. In contrast to the traditional practice of having specialized personnel who are not expected to perform outside of their tightly defined tasks, cross-training programs provide significant benefits to both employees and corporates.

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    The Many Benefits
    For the Dire Times
    Leveraging the Inside Talent
    Rising Cooperatively

    The Many Benefits

    Benefits Cross-Training Programs-StartupTalky
    Benefits Cross-Training Programs

    Firstly, cross-training programs could help in rebalancing the workload between overloaded and underloaded employees which in turn could lead to a smoother flow of work. Division of work is no doubt crucial but finding a balance between workload and segregating the duties during dire times helps in the overall efficiency of the firm. Secondly, cross-training is also an excellent practice to induce a sense of ownership or intrapreneurship amongst employees since they are not just contributing to what they are supposed to but also to where they want to. Moreover, this also grooms the employee’s thought process by making them see what is going on beyond their department and, in turn, have a consolidated view of the problem that the organization is solving at large.

    For the Dire Times

    Finding someone to step in for an urgent position or vacancy can be challenging, especially if each department only has a single worker. Cross-training allows individuals to work in multiple positions amid serious instances. This further boosts productivity in times of increased demand or workforce shortages. Employees can assist each other in collaborative projects thus, increasing the supply of quality inputs.

    Cross-training programs can further assist businesses in emphasizing their commitment to tackling workplace challenges such as diversity and inclusion. Employees have the chance to broaden their skill sets and work duties through cross-training.

    A new distinctive work might provide opportunities for the advancement of an employee while concurrently keeping them motivated and engaged. Effective engagement plays a great role in the overall teamwork of any firm. Teams get stronger as a result of their increased sense of value inside the company.

    Leveraging the Inside Talent

    These days, it is often observed that the management is looking forward to starting a new stream of ventures aligned with its current operations. Then in such cases, cross-training could be a technique that could do wonders by utilizing the unique traits of the existing workforce and, in return, help the company save time, money, and effort. For instance, companies that are planning to go digital are asking employees who have some knowledge about SEO, social media algorithms, content creation, etc., to contribute to the process rather than hiring a completely new team for this task. A company can save a lot of time required in onboarding and training new employees and instead invest in current employees who have a much better idea of how intra-department functioning works and have a concise picture of the problem that the company is working on.

    Rising Cooperatively

    Being vital and required is a source of self-esteem for certain workers. Everybody likes to get something more than just an acknowledgment. It is necessary for any firm that appreciates its employees’ capacity for mutual assistance. It further promotes the idea that single points of failure are a weakness that affects the entire organization rather than individual positions. Employees should be shown that their willingness to assist their co-workers in need will be beneficial to them when they require more assistance.

    It has also been observed that employees’ learning curves start flattening after joining corporations, and they get indulged in a daily mundane life cycle, busy doing repetitive tasks. To resolve this aspect, cross-training could do wonders by not just steepening the learning curve again but also adding new tasks in a 9-to-5 job, making it exciting again. However, the preliminary note is that cross-training is more efficient when employees are given a chance to choose their domain of experimentation, but either way, cross-training has proven itself to be an efficient and pragmatic methodology.

    Conclusion

    Briefly, cross-training is a proven and efficient practice that could solve various problems in an organization and smooth out the work operation without hiring new workers. Therefore, reducing costs for the organization and ultimately adding to the mutual growth of both the firm and its employees.

    FAQs

    What Is an Example of Cross-Training in Corporate?

    For example, if person A knows about handling a customer’s problem then he or she can learn other skills like identifying and addressing problems within products or services offered by the company or for that matter learning sales skills.

    How Do You Create a Cross-Training Program?

    First, identify a few skills that you want your employees to learn and also related to your company’s work. Second, hire good trainers to teach them and also make your employees aware of the benefits of cross-training and finally, put a reward system for the best performers.

    What Are the 12 Benefits of Cross-Training?

    The twelve benefits of Cross-Training are:

    • Rebalancing the workload
    • Inducing a sense of Ownership
    • Grooms employee’s thought process
    • Better collaboration and understanding
    • Improves problem-solving skills
    • Improves efficiency
    • Makes the company more acrobatic
    • Great ROI on investment
    • Builds empathy for other’s work
    • Boosts team spirit
    • Increases workforce sustainability
    • Improves efficiency

    What Is the Purpose of Cross-Training?

    The purpose of Cross-Training Program is to train the employees in many skills rather than in one specific skill. It helps them to build professionally well-rounded and good team workers.