Benefit Of Training And Development Of Employees †Free Samples

Question: Discuss about the Benefit Of Training And Development Of Employees. Answer: Introduction The training increases the efficiency and effectiveness of employees and is important in achieving goals of an organisation. It redefines the workplace learning. The companies are giving importance to workplace learning as it makes programmes more relevant and effective and creates a culture which encourages continuous learning and advances innovative leaders. The training has a great role in achieving goals of an organisation as it adds value in the performance of an organisation. There are various factors which are responsible for the performance of employees but training is a key factor. Now a days organisations spend a lot of money on the training and development of employees as it increases the performance of employees and it ultimately impacts the return of investment. [1] The impact of employee training and development on organizational profits The employee training and development programmes should be effectively managed to achieve optimum returns on their investment. The employees are also required to adapt continuous learning and update skills for the profits of an organisation. The appropriate training and development can evaluate performance of employees. Training creates a culture for continuous learning and develops innovative leaders. The training and development of employees affects organisation by increased productivity. The training and development improves the productivity of employees[2]. The employees remain up to date with new technology and use the existing technology in a better way. The well trained employees contribute both quantity and quality performance which results in profits to an organisation. The well trained employees lead to less wastage of time and resources. The training leads to less supervision because it improves the necessary skills and empowers employees to handle task independently. It i s seen that a well-trained employee is more aware to the organisation and requires less supervision. The training and development reduces error and accident on the behalf of employees. The errors occur due to lack of knowledge and specific skills required for performing a particular job. The constant training and development ensures that employees learn the right skills at right time. A well trained person prevents committing errors in a job[3]. The training and development pays an organisation by creating talent pool. The well trained employees can easily bridge the gap when someone unexpectedly leaves the job or take transfer. The employees are learnt multiple skills like sales, administration work, customer service and operations. The cross training enhances team spirit and the employees appreciate the challenges faced by the colleagues[4]. Many companies cannot discover the hidden talent of its employees. The training and development provides platform to employees to show their skills and express ideas with management. It is seen that employees desire for leadership role but because of the no leadership programme, the employees do not get chance to show their skills and prove ability. The training and development programme can be successful in spotting the leaders of tomorrow within the company[5]. The training and development plays important role in job satisfaction to employees for the role played by them in organisation[6]. The organisation is profited as the employees started to execute duties with great ability. The employees feel themselves as they belong to the organisation and the only way they can reward is by providing the best service. The training and development reduces turnover and absenteeism. Training provides confidence to employees by providing security at workplace. Training can also be helpful in evaluating weakness of employees. The weakness hinders performance of employees and hampers them by giving best outputs. The training eliminat es weakness by strengthening skill and talent of workers. It also dissolves inner barriers. A proper training and development provides employees continuous knowledge and experience. The regular training ensures that employees have reliable experience and knowledge for performing tasks and procedures[7]. It also ensures that the employees have consistent knowledge to perform tasks within the stimulated time period and without any barriers and there are no queries on the procedure of completing tasks. Security, discrimination and administration are the factors which are the tasks which are considered crucial and require special training. The organisation can be benefitted by training and development as it reduces the learning time. The systematic training by the experts is necessary to reduce the training period. It will take long time and more efforts if the employees learn through trial and error. It is also not sure that they learn the right method by practicing trial and error. Training not only takes care of all things but reduces the time period used in self-learning process considerably[8]. The training and development encourages team spirit, team work and collaborations. It instructs zeal to learn things for employees. It also benefits an organisation by increasing job opportunities and skills required at each level. It expands the prospects of human understanding and overall personality of employees. The training enhances profits of an organisation by providing opportunity for the development of human resources. The development of behaviour skills ultimately results in utilisation of resources and can be helpful to employees in achieving their personal growth. The training and development not only improves profitability but changes attitude of employees towards organisation. Budgetary considerations in human resources The budgeting in human resources includes systematic collection of information and data. Usually the organisations follow two types of process, incremental budgeting and zero-based budgeting. The incremental budgeting prepares a new budget by making use of the current budget. Some upward and downward adjustments are used to each item. In the zero based budgeting each item is justified before included. The budget considers reviewing prior budgets, knowing budget calendar, establish goals and identifying capital expenditures. The data needed in creating a new budget includes: The increase or forecasts in benefits cost. The number of employees anticipated for the next year. The actual cost earned in current year. Estimated turnover rate New programs planned. The changes which can impact cost are policy, strategy, law or business regulations. Once the employees are hired, it is required to train them. The training can only prepare employees for the positions in a better way[9]. The investment in training helps in recognising global reality. The success and failure depends on the skilled workforce of an organisation. The hiring manager of companies considers that training of employees is a key retention tool. The employee training and development requires money. The average cost of training is assumed as $1,888 per employee in a business of less than 500 workers. A training budget enables an organisation to forecast short and long term skill and plan best resource allocation. The training of employees includes forecasting knowledge, abilities and skills required to execute the strategic plan of an organisation[10]. The training budget includes many areas such as professional, customer service, policymaking development and software applications. It provides means to an organisation to control learning activity and investmen ts. It provides a standard to measure expectations against reality. The budget identifies various components such as increased productivity, improved precision, improved attitude and more work independence. The effectiveness of training can be tracked through observation, customer surveys, and employee questionnaires[11]. It allows adjustments and modifications. The training program also includes the development costs. It can be pay off after several months and cash flow can be accommodated. The allocation of funds for training with budget provides the flexibility to organisation all over the year. The cost included in employee training: Trainers salary Internal training programs Registration fees Travel expenses Consultation fees Education and program materials External programs Reflect on organization and propose changes for the future Woolworth is the largest retail group of Australia and New Zealand. We have over 3,000 stores, support offices and 180,000 employees. Our company serves millions of customers everyday with multiple choice, lower prices and excellent quality. Woolworth is publically listed on the Australian Securities Exchange. We have approximately 350,000 shareholders out of them 40,000 is staff of our own company. We focus on training investment. According to the report of 2006/2007 the total training of company increased to $ 50 million. It is anticipated that the training will keep on growing by approximately 20%. We treat our employees on the basis of equality. Aboriginal and Torres Strait islander employment are supported by providing equal growth opportunities to employees. We have cultivated a culture of learning. Various training and development programmes are designed to recognise talent of employees. We have equipped our employees with skills to use their full potential. A regular assessme nt process is followed to identify higher performance employees to reach next generation of leaders. We have registered under a private further education and training college with the higher education department[12]. The employees are supposed to complete their training before joining. We also do provide tertiary funding for employees and their children. We also provide NQF training programmes for both internal and external learners. We have done partnership with SETAs and leading tertiary institutions for the training programmes. The learners from disadvantaged background are transformed and get opportunities by company. The international and local conferences, internal and external coaching and mentoring keep on taking place. To fight with skill shortage we have launched a career development programme for the current employees, unemployed and underemployed. The duration of this programme is 12-18 month. Most of these persons will be employed by the company[13]. The candidates of W oolworth growth academy are paid salary and are employed by the company itself after the completion of programme. We have invested in the local talent by learning interventions for employees. We have talent development teams that work closely with learning specialists to make sure candidates have deep understanding of industry[14]. Our growth academy prepares the future leaders of our company and opens door for the disadvantaged talent. Woolworth can search for the best training solutions to implement annual skills development programmes for the staff. A training schedule or workplace skill plan (WSP) can be developed to implement skills development[15]. It also helps to identify skills required for the professional development of employees. The WSP provides a planned approach required for the amount and type of training required for the company. It can help company to discover talent of employees that is not necessarily known by the company earlier. The ultimate aim of WSP is to support skill development. The company can make use of continuing professional development (CPD) for achieving the right abilities to do job and enhance expertise. The efforts are done to improve job performance and employability. The professional development plan (PDP) can be useful in developing plan and manage employability in the challenging times[16]. It creates opportunity for the development and advancement of employees. The online t raining programmes can also be used by the company to provide training to staff. It is not a one-time affair. So, the company should realise the need of training time to time[17]. Conclusion The training and development upgrades not only the productivity of employees but also the profitability of an organisation. The development of employees ensures profitability of an organisation. The employees of an organisation can adapt an ever changing world market which is possible only if they are properly trained. The companies are required to make investment in on-going employee training and development for the success of employees and profit of an organisation. Training fosters ability to learn faster and adapt changes. It enhances quality of work and initiative of employees. It also assists to achieve organisational goals and objectives which in turn enhances the effectiveness of employees References Ana-Maria, Bercu, Impact of employees training programmes on job satisfaction. (2017) Current Science (00113891) 112.7 Angus, Mcllwraith, Information security and employee behaviour: how to reduce risk through employee education, training and awareness (2016). Routedge. Cyril, Kirwan, Improving learning transfer: A guide to getting more out of what you put into your training (2016). Routledge. Rob F, Poell, Time to flip the training transfer tradition: employees create learning paths strategically, (2017) Human Resource Development Quarterly 28.1: 9-15. 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