Training and Development in Banking Sector - Research Articles

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.

The first three days a company begins their operation the bank will be contacting then so they can open an account. The bank also uses this policy and practice when it comes to managing and developing their employees. The Bank feels that training is extremely important. The bank feels that the training and developing will build up their employees so they are able to perform to their best ability. The bank feels that learning is a win-win situation. The employees succeed in life and also on the job (Shukla-Pandey, 2012).

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

When the organization invests in training and development to improve the knowledge and skills of its employees, the investment is expected to yield productive and effective employees. The programs could be focused on individual performance or team performance depending on the development need identified by a training needs analysis which helps in the creation and implementation of training and management development programs. In the view of Grobler, Warnich, Carrel, Elbert and Hatfield (2004:345), training needs have to be determined first.

Training is an important facet of developing and managing human resources at any organization. Training should improve not only organizational efficiency and employee productivity but it must also improve employee skills and make employees feel valued. At Clapton Commercial Construction (“CCC”) Company’s Arizona location, it is important for the company to hire and retain good employees. To that end training and development should be essential and consistently provided to employees at all levels of the organization. Training program should be designed so that it is tailored to the particular function the employees perform in the company, and also so that the company as a whole works as a

Training and development: Employees should be trained and given chance to improve and enhance their skills. Many employers fear that if the employees are well rained, they’ll leave the organization for better jobs. Organization should not limit the resources on which organization’s success depends. These trainings can be given to improve many skills like:

Training and development is one of the many essential functions of human resource management; it is deemed as the planning learned experience by which employees are taught various aspects of a given job and most importantly how to perform a job and or a future tasks. The basis for training and development implementation is to mold an efficient employee who performs tasks effectively resulting in optimum productivity, which aids in an organization’s overall aspirations. Job training has been around for centuries and has been utilized to teach individuals task specific to a given job or industry; it differs from education which affords individuals general information regarding traditional topics such as science, math, history, reading, and writing. Over those centuries, a few training methods have been explored such as on the job training, classroom training, vestibule training, systematic training, and the most currently used computer training. Within each of these, training methods can be found imperative information to assist an organization successfully meeting objectives.

To study the existing policies of the Bank with regard to “Training and Development” of their employees.

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,

Training and development are very important to every organization because it can increase the effectiveness of the organization. Training is a program to increase an individual’s knowledge, skill, and ability lead to increase performance on

Training and development has become increasingly essential to the success of modern organisations, yet some still look at training as a problem or as something that is not taken seriously. Training and development is one key approach used by organisations to improve and maintain the capabilities of its workforce. However, many experts distinguish between training and development, being that training tends to be more closely focused and adapted towards short-term performance concerns, while development tends to be adapted more towards expanding an individual’s skills for future responsibilities (Snell and Bohlander 2007). The main reason that organisations train their employees is to bring their knowledge, skills and abilities up to the

The purpose of training and development needs is to identify performance requirements and the knowledge, skills, and abilities needed by an organization 's workforce to achieve the requirements. An adequate training needs assessment will help direct resources to areas of greatest demand. The assessment should address resources require to fulfill the organizational mission, improve productivity, and provide quality products and services. A needs assessment is the process of identifying the "gap" between performance required and current performance. When a difference exists, it explores the causes and reasons for the gap and methods for closing or eliminating the gap. A complete needs assessment also considers the consequences for ignoring the difference.

Training and development is defined as the heart of a continuous effort deigned to improve employee competency and organisational performance (Mondy, Robert and Shane 2002). Training provides trainees with information and skills needed for their current job, while development arms them with the knowledge needed for the future role.

Our textbook defines training as “systematic acquisition of skills, rules, concepts, or attitudes that result in improved performance” (p. 284). Training helps employee develop the skills and knowledge needed to perform their job correctly. In order for organizations to determine what kind of training is needed, organizations must conduct a needs analysis. The needs analysis helps determine the best training for the organization’s needs. There are three types of needs analysis that are typically conducted. These need analysis are: organizational analysis, task analysis, and person analysis.

This research focuses on the impact of training and development on employees’ performance in the banking industry using Zenith bank plc as a case study.