Training” refers to a systematic approach to learning and development to improve individual, team, and organizational effectiveness. Alternatively, development refers to activities leading to the acquisition of new knowledge or skills for purposes of personal growth. Training not only may affect declarative knowledge or procedural knowledge, but also may enhance strategic knowledge, defined as knowing when to apply a specific knowledge or skill.
INDIVIDUAL BENEFITS FROM TRAINING AND DEVELOPMENT PROGRAM.
- CAREER COMPETENCIES – Employees get a lot of benefits from the employee training and development program. They learn the soft and technical skills as required by their jobs.
- EMPLOYEE SATISFACTION – Knowledge always gives a spiritual peace or satisfaction to any or every human being.
- EMPLOYEE PERFORMANCE – Training and development results in improved job performance and other positive changes like acquisition of new skills that serve as antecedents of job performance, that can be compared with no-training or pre-training states, training can have an overall positive effect on job-related behaviors or performance.
ORGANIZATIONAL BENEFITS FROM TRAINING AND DEVELOPMENT PROGRAM
Employee development programs are important for any organization to stay solvent and competitive in the market. Though it is expensive for the organization to spend the money on their employees but this investment is positive for the organizations to hold the place in the market.
Training has been defined as mainly contributing factor to the organizational effectiveness. Exploration on this topic recommends that investment in training and development program can be justified by the impact it creates to developed individual and organizational effectiveness.
The research described that employee retention is a challenging notion and there is no particular method to retain employees with the organization. Several organizations have revealed that one of the characteristic that help to retain employee is to offer them opportunities for improving their learning. Therefore, it has confirmed that there is strong relationship between employee training and development, and employee retention. Companies should realize that experienced employees are important assets and companies have to suffer the challenge for retaining them. Therefore, companies which are providing training and development programs to their employees are getting success in retaining them.