The Truth About Training
Our companies’ main goal is financial success by that we want to maximize our shareholder’s wealth. Since making money is our primary goal, every business unit is under pressure to show how it contributes to the bottom line or else it faces spending cuts and even elimination. Learning through training and development is critical for winning in the marketplace. To contribute to the company’s success, training activities should help the company achieve its business goals. There are both direct and indirect links between training and business strategy and goals. Training that helps employees develop the skills needed to perform their jobs directly affects the business. Giving employees opportunities to learn and develop creates a positive work environment, which supports the business strategy by attracting talented employees, as well as motivating and retaining current employees.
Organizations should place a high value on intangible aspects of its value as these components can greatly influence the bottom line. Given the significance of intangible assets organization are reviewing training and development models to ensure that employees are being developed in a way that enables employees to meet business strategy targets relating to profitability, market share, and product quality.
ReplyDeleteManaging the talent of an organization refers to the systemic processes that an organization undertakes to use various human resources practices, which include hiring, assessing, learning, and development, performance management and the benefits or compensation that an organization offers in order to attract, retain, develop and motivate high skilled and performing employees (Noe, 2013). Human performance technology is the application of science and professional practice research indicate help to achieve appropriate performance through and from personnel (Stolovitch & Keeps, 2004).