Avoiding CorpU Management Risks
Corporate Universities had always been such an epic-scale investment in the hopes of creating quality employees. However, often clouded by merits and results that may come in unexpectedly longer time than how it envisioned, many corporate universities are doomed to fail. In fact, most would say that inefficient corporate training (including awry corporate universities) so far had caused companies to lose billions of dollars. But what exactly are the risks in maintaining corporate universities?
What are the risks?
Survey results by BPI Group
Over 72% of companies refuse to even plan to have corporate universities. With varying reasons and one of them, in particular, is the cost. Building the company’s very own institution to train future workforce sounds incredible in hindsight. And yet, consider the costs of investment it would take to not only build and maintain the facility, but also to provide a quality training experience for future workers of the company. After investing a ludicrous amount of money for this initiative, it would be terrible if one is carried away by the premise that the content is not well managed.
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Forgetting the fundamentals is critical and often happens when the project manager is lost in secondary priorities of the project. Improvements upon a project on other aspects are nice to have, but not at the cost of forgetting why said project exists in the first place. It’s incredibly easy to become lost in architecture, equipment, and other optional investments in a corporate university. These distractions can make one forget that making future workers want to enroll must be an investment as well. They won’t simply come in waves to a new corporate university unless it might be for a company that they personally like. Since, even if a major company decides to create such an institution, it is no exaggeration that people are gambling their future as a cost to enroll.
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Often, companies forget that what it means to train is to educate. No matter how much knowledge you have that can be handed down to someone else, it does not necessarily mean you can efficiently teach it. Despite the modules worth of knowledge that will prove useful for a trainee, having them simply read them and expect them to practice it wouldn’t be as fruitful as it could be. Since in most cases corporate universities would depend on practices, it might be intimidating to the trainees to explore their boundaries on the university’s practices. Not to mention that often educating is outside the expertise of the company unless they themselves deal in it beforehand. If it is compared to regular corporate training, you may shake your head since only 10% of corporate training are actually successes.
Failure to adapt to technology
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It is already apparent how e-learning helps with improving learner’s efficiency. And yet it would seem that some corporate universities are ignoring this fact or simply brushing them off. On the other hand, other corporate universities invest too much in such expensive technologies that it blows up on their faces. Adapting to technology is a must for any company that cares about its fate in the future. Though this should be obvious to companies that require employees to be technologically savvy, others that may not have the same needs should still consider it.
Is there a solution?
Simply minding such mistakes would be solution enough. It is easy to draft an initial plan, but hard to keep up with it once it snowballs into something much larger. However, there is another aspect that may be able to solve the above problems in one shot.
Gamification and gamified platform
This term is something that is easily brushed off by an institution as serious imaged as a corporate university. Gamification might just be the overlooked solution to help these problems. Gamification itself already could help with making the training more enjoyable thus increasing retention. But it also has the potential to improve upon various other aspects such as:
- Help trainees (and trainers alike) keep in touch with modern technology
- Make the training experience both useful and enjoyable
- Increase company loyalty among individuals involved
- Convert large modules into easier materials
- Help decrease the need for future branching of curriculum to cater to trainees’ wants (Thus more unnecessary investments)
But there are also other uses for gamification and gamified platforms. One of them is helping with an institution’s management.