Corporate Training Pays. Simplilearn this Lesson now
Large technology companies are keen on skill training of employees in the wake of proposed H-1B visa reforms in the United States
Bengaluru: Online training and certification course provider Simplilearn is switching its focus to corporate training from individual or consumer-focussed programmes.
This move comes as large technology companies get keen on skill training of employees in the wake of the proposed H-1B visa reforms in the US that will require highly skilled employees to justify the increased minimum wage and a growing intent of skilling back in India.
The MayField and Helion-backed company is utilising this as an opportunity to get a fair market share of the enterprise skill trai- ning industry where it plans to spend at least a couple of million dollars in the next one year, Simplilearn’s chief executive Krishna Kumar told ET.
“So far we had been working with large corporate training in a reactive manner, based on the demand we saw from the sector,” Kumar said. “From now on our primary focus is going to be corporate training.”
The company plans to add to its customer base at least 100 enterprises companies in 2017, with employee size of about 5,000 people, he said.
The Trump administration’s proposed Bill requires workers holding H-1B visas to be paid a minimum of $100,000, up from $60,000 at present. India’s IT outsourcing industry, which accounts for about 9.5% of the country’s GDP and employs nearly 3.7 million professionals, will be largely affected by the proposed legislation that intends to guarantee a place for highpaid, high-skilled labour. This means training for soughtafter skills in the fields of data sciences, big data and cloud computing will increase as companies evaluate their choices in terms of skill acquisition and talent acquisition. “Large enterprises prefer to train existing employees on hot skills rather than hiring new people, as it helps them in employee retention,” Kumar said. The company has in the past few months directed its efforts to tweaking its learning tool to suit the demands of corporate training. Corporate training program- mes require customisation, such as accessibility to training programmes in specific hours, incentivising the platform for higher completion rate and monitoring of progress at managerial level. Kumar said the company has been working on these improvisations on its platform to suit the enterprise needs. It will continue its individual training programmes, though.
Simplilearn counts large enterprises such as Bank of America, Barclays, Samsung and Salesforce among its enterprise clients.
The corporate elearning market was said to be worth $12 billion in the US alone in 2015 and is expected to expand at a compound annual growth rate of about 11% to hit $31 billion globally by 2020, according to a market study by Technavio.
KRISHNAKUMAR Chief Executive, Simplilearn Large enterprises prefer to train existing employees on hot skills rather than hiring new people, as it helps them in employee retention