Employee education is one of the most important components of a successful business. Lots of corporations started changing their mentality towards employee education to more social way of learning, but some still lack behind and concentrate on a traditional way of educating its staff - old school training courses.
Milda: Chirag, could you tell a bit more about yourself? How did you career started, and why do you have so much passion for startups and business development?
"I love Business development because it gives startups and businesses hope regarding alternate channels businesses can take through partnerships" (C.Kulkarni)
Chirag: I am an entrepreneur, advisor, and speaker. I started my career at a young age, by getting older I'm affiliate marketing in hopes to fly in a private jet ( I fantasied about this from a young age). From there, I got involved in various companies in different verticals. Currently, I run a company called C&M Group, which provides entrepreneurial led strategic consulting for startups to Fortune 500s. I have a strong passion for startups due to their ability to disrupt sectors and improve the lives for consumers. What is more, I love Business development because it gives startups and businesses hope regarding alternate channels businesses can take through partnerships, etc. I like strategizing how businesses can work together.
M: What do you think of employee education these days? (How imporant it is for organizations success etc.)
C: There are three types of learning that take place at a company. Primarily, these include professional, self, and formal learning. Although all three are extremely important, most companies give more importance to formal more traditional learning.
Formal training works, but not for learning soft skills required in business.
Small companies generally speaking don’t focus on employee education because they think it is expensive, and for that reason, want to save money. I’m a huge believer in founder education, which involves founders and executives spending time with employees for their personal and professional growth. In short, employee education is extremely important to an organizations success. Think of it like investing in your employees.
M: If you could, what would you change in the system of internal learning within organizations? Why?
C: For large fortune 500s, the internal learning system is determined by the executive team. Although it is important to have an internal learning process, it is more important to have learning that is focused on An employees needs and interests. This is a major flaw in the system that I would like to change, stardom with C&M Group.
M: What are the flaws of traditional way of employee training?
C: Employee training, in a traditional sense is extremely focused on getting higher degrees, or doing coursework at universities. Although these can be great options, these do not necessarily help immediate startups or businesses grow their employee pool's skill set.
The new learning process should be geared towards helping employees with their own needs, and focusing on their professional and personal growth, and not just getting a generic MBA.
Flaws of training are very similar in large companies.
M: When did you realize it?
C: This realization about corporate learning came when watching what large companies do for educational training.
M: How do you imagine learning in the future?
C: Learning in the future is going to (hopefully) be more self guided, and focused on what skills are lacking within an employee, and specifically, what the organization, educational entity, or other employees and executives can do to help the employee learn more. This will do 3 things;
- Increase the focus on learning relevant skills
- Decrease the cost of corporate learning for small and large companies
- Increase the employee investment per dollar, which can increase the retention rate of an employee.