IntroductionIn recent months, corporate and small business units underwent belt-tightening in a bid to cut down on training and development costs. The desire to retain employees and improve their productivity will be a huge consideration. Occasions necessitated by economic downturns brings about cost cutting in departmental cost centers which affects training and development. Most companies in the recent times have cut back on employee training and wellness conferences and seemed poised to reduce other expenses. Well performing companies continue to invest in employee training and development, an investment that will see them come out way ahead of their competitors with sole management strategy of cutting, slashing and burning. Hiring and recruiting workforce is a lengthy and often expensive procedure requiring an organization to look for employees who will be productive, involved, committed, and effective in their roles.
However, not every organization comprehends the idea of working hard to building a strong and competent workforce. It demands a lot of commitment and planning accompanied by viable strategies and policies. Organizations investing and developing their workforce, often have well tested human resource strategies like providing and assembling tools for improving their new employees’ productivity.
They have defined competencies at every management strata and advanced development channels to increase uptake of the competencies. They challenge and build employees with new opportunities by investing in their confidence. In addition, they leverage on improving interpersonal, managerial skills, provoke continuous skill development and career growth by encouraging team synergy and collaborative team effort. Employees regard development opportunities to top their agenda, since they ponder on their next step in their career that determines their intention to stay with their current employer or move elsewhere.
Investing in the future of employee is of great significance and improves employee retention. better productivity and continued employee loyalty to the organization is a result of continuous employee development, since employees desires to remain in the organizations that is caring, considerate and self fulfilling for them, in situations more favorable and difficult as well. Training play enormous roles as organizations build strategies to develop and create opportunities for their employees. Effective and timely employee training provides big return on investment to the employers.
Employers find it easier to increase their productivity, raise commitment levels, empower through knowledge and cultivate loyalty from their workforce. Companies have the obligation to plan for different types of trainings based on the options which gives them big payoffs. Orientation on new hiring helps employees to get acclimated with organizational procedures and comprehend the company culture better. Training in legal and compliance engenders good corporate citizens. Similarly, effective training on tools and technology increases their productivity. There is also need to train on new company products to keep up abreast with pace of change.
In addition, classes, seminars, workshops are important for opportunities and development. Hence, training should be critically considered for continuous development, retention and success of employees. Supporting continuous learning and development of employees creates and fosters an organization’s wide learning environment. It offers support for learning inside the organization as well as providing access to knowledge repositories, tuition reimbursement and professional library activities etc.