Training: Human Resource Management and Economic Downturn Essay examples

Training and Development is imperative to the organization’s progress. Training helps addressing employee weaknesses and builds a reliable and skilled workforce. This will improve the employees’ performance and boost their self confidence, and innovation. By acquiring the needed knowledge and skills, employees can perform more efficiently and increase the overall productivity of the organization.

Knowledgeable and well trained employees are needed in every organization. It is important employees are able to perform all the tasks needed in order to reach the organizations needs and achieve the set goals. As times change, employees may stay behind in skills or may even lack training when it comes to new systems, technology or other procedures that the company may need in order to better performance. That is when the importance of training is more evident. An organization has a large responsibility for their success which is why training, development, and career development is

Retaining employees is one way the turnover rate can decrease, Branham (2000), focuses on retaining valuable employees by incorporating four key elements. The first key elements is, “be a company that people want to work for”. There are many companies that have been labeled as, “employers of choice”. These employers all have something in common, which is how they value their employers (Branham, 2000). They treat their employees with respect and like family. With being an “employer of choice,” people are the most valuable asset; not just customers but employees too. Many companies go above and beyond for their customers, but not for their employees, yet they wonder why they are losing valuable talent.

In this paper Team C has discussed the issue of poor employee retention concluding in a high employee turnover rate. This is an issue that can be common among some companies and that is a great example of

There are two types of turnover, voluntary turnover happens when the employee makes the decision to leave and involuntary turnover is when employees has no choice in their termination (Schmitz, 2012). Every month or sooner managers experience some of their exceedingly qualified employees leave the company. After realizing that their company is becoming less profitable is when they begin to wonder why and brainstorm on ways to retain them. In Information Technology, “the cost of recruiting new staff is high and the loss of continuity when staff leave can also be very expensive” (Bott, 2005, p. 111). In IT, human resources strive to maintain their highly skilled employees while employees’

Companies who invested in training and development programs in the long run with show that their employees great assets to their company. “Employees may gain access to training they wouldn 't have otherwise known about or sought out themselves. Employees who feel appreciated and challenged through training opportunities may feel more satisfaction toward their jobs (Frost, 2016).”

Employee/team member turnover may be mostly a negative issue, yet it can become positive if only controlled by the organization correctly and appropriately. Turnover is often utilized as an indicator of the organization performance and it can easily be observed negatively towards the organization’s efficiency and

For the most part, attracting and retaining employees in today’s market is one of the biggest challenges that are faced by Human Resources. In today’s society, retaining employees is rather difficult as various employees are known to jump from job to job, almost always in search for more benefits or for their personal dream. Whatever the reason be, high turnover rates can be very expensive to employers as training and hiring one employee and then training and hiring a new employee requires time and money. According to Chron.com, it has been found that “employee replacement costs can reach as high as 50 to 60 percent of an employee’s annual salary.” As this is a one-time transaction, employees that are retained only “charge” the company once and so it is allowing more work for the dollar when the employee stays with the company for a longer time period. Companies that have high turn-over rates spend more money on employees which affects the bottom line of the company, this determines the state on how fast or a matter of if the company will use its money to expand.

With proper training, employees can gain an adequate knowledge concerning their field and attain more skills which will be beneficial not only for them but also for the success

Most organizations do not follow-up on the benefits of training as regards staff performance. As a result of this they don’t take training and development as an important factor in organizational growth and survival. Most manages do not know how to assess the return on investment in training, nor are they equipped with the necessary management tools to monitor the decision making process of such investment. It has been discovered that training and development budget is the first cut when the organization is faced with difficulties because most of them are of the opinion that investment in the area of training and development is not linked to the bottom line of the business. Globalization and rapid technological development has changed the conditions for companies and increased competition in the world markets. The quality of a company’s human resources is the key driver for sustained top-level performance. It has become crucial to continually invest in human resource development in order to guarantee success in the global market. As earlier said, managers engage in minimal training thereby not giving quality training to their employees, this in turn affects the overall outcome of the training and the performance of the staff. Most organizations that have a competitive image see more reasons to train their workers than those who are on the lower rung of the ladder of recognition, but training and development is still needed to create a niche. In the light of the above,

Workforce turnover is a complex and important issue amongst today's organisations. It is perhaps one of the most often cited cause of increased cost and decreased productivity. No wonder people management has become an important frontier to extract and create more value from company assets. On comprehending the articles, it has become evident that organisations have moved beyond the traditional approach of only investing in core business activities, to invest in employee retention strategies. Many organisations, for example St. George Bank

Employee retention has always been an important focus for human resource managers. Once a company has invested time and money to recruit and train a good employee, it is in their own best interest to retain that employee, to further develop and motivate him so that he continues to provide value to the organization. But, employers must also recognize and tend to what is in the best interest of their employees, if they intend to keep them. When a company overlooks the needs of its employees and focuses only on the needs of the organization, turnover often results. Excessive turnover in an organization is a prime indicator that something is not right in the employee environment. We will look at

Employee retention has always been an important focus for human resource managers. Once a company has invested time and money to recruit and train a good employee, it is in their own best interest to retain that employee, to further develop and motivate him so that he continues to provide value to the organization. But, employers must also recognize and tend to what is in the best interest of their employees, if they intend to keep them. When a company overlooks the needs of its employees and focuses only on the needs of the organization, turnover often results. Excessive turnover in an organization is a prime indicator that something is not right in the employee environment. We will look at

Training and development provide employees the skills and knowledge to keep up with the company’s changes and growth. It can also help to develop and improve the corporate culture, its efficiency and its effectiveness; and helps in creating the learning culture within the company.

Training is an essential component to the accomplishment of whichever administration. Early training when a worker is initially employed, is extremely valuable (Noe, 2017, p. 5). If an individual’s initial training is deficient they may not be skilled to function to specifications of the occupation. As well, continuing training is imperative as the business developments. New by-laws or modernized technology will call for current employees to meet open-ended training that coincides with the development of the firm. The demand for workers to be trained in addition will increase when there are individual adjustments like alter of job description, change of labor processes, and change in customers,