A survey by the Institution of Engineering and Technology (IET) shows that nearly two thirds (65%) of mid-size companies choose to impart soft-skill training over technical training to new employees. The survey was carried out in partnership with market research firm Feedback Consulting to understand the corporate engineering training landscape in India, covered over 120 large- and mid-sized companies across seven cities.
It covered key aspects like talent gaps, training and development initiatives, decision-making, partnerships with external organisations for training, as well as the future needs of companies.
The survey shows that both large- and mid-sized companies provide some form of training at the time of employee orientation. About 45% of large-sized companies said they offer subsequent training opportunities to employees at regular intervals, with the same percentage of mid-sized companies offering training only at the time of induction.
The study brings to the fore some challenges in the current training landscape, and these challenges are unique to the firm size and priorities. With automation, industry 4.0, AI and blockchain leading the business paradigms.
The key drivers for conducting training programmes, 20% of large-sized companies felt training was the most important tool to keep abreast with industry innovations and up their skills, while 23% of the respondents agreed that training is essential to gain insights for better product development.
With regards to engaging with external agencies to impart training, all large corporates said they have in-house training departments and 29% have tieups with external agencies. In the case of mid-sized organisations, only 5% were found to have tieups with external training agencies and most of them had HR departments managing the training requirements of the company.