The evolution and relevance of corporate training in Latin America
According to a Global Market Insight Report, eLearning in Latin America (LATAM) is expected to witness considerable growth from 2016 to 2020. LATAM eLearning market share was valued around USD 2.1 billion in 2016 and is likely to grow at a CAGR of over 14% over the next five years.
Traditional Corporate Training in Latin America
In Latin America, professionals would traditionally gain their knowledge from university and upon graduation, they would be ready to join the workforce. Changes within industries and skill sets needed to perform jobs were minimum and the idea of constant learning to improve performance may not have been a top priority.
Traditional education and corporate training in Latin America has evolved as markets and industries become global and their reach expands beyond their own country.
The Evolution of Corporate Training in Latin America
Industries and businesses continue to evolve and in order to keep up with the accelerated evolution of global business, employees and job seekers must stay on top of emerging trends that will qualify them for better opportunities, allow for better performance, and provide opportunities for growth.
Businesses in different industries are also realizing the importance of maintaining worker engagement and motivation by proving great corporate training, as well as the benefits of keeping their workforce up-to-date with ever-changing industry standards.
Online Corporate Training
Varying levels of economic crisis around the different countries in Latin America have lead to a decline in corporate investments in learning and development and training programs. However, the companies that become and remain successful are those that take the time and resources to invest in the development of their staff.
We have seen an increase in the adoption of not only learning and development programs, but also in the adoption of learning technology such as learning management systems (LMS) in order to manage and provide training programs to employees, regardless of language or global location. Another key benefit of adopting an LMS is to centralize training and track the efficiency of eLearning programs. Technology also enables corporate training programs to go beyond formal training and involve informal and social learning approaches.
As the adoption of mobile devices among Latin American professionals has undeniably increased, so we also see the increase in the need for companies to enable mobility in corporate training for their workforce. Mobile learning will be the preferred method in the next years in Latin America.
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