Do Organizations Spend Wisely On Employees?

Importance of Training and Development

Question:

Discuss About The Do Organizations Spend Wisely On Employees?

In the current scenario, recruiting and talented employees is becoming quite difficult within the organization. Attracting and retaining positive and motivated employee is crucial for an organizational success (Sung & Choi, 2014). High employee turnover in the recent times leads to creating negative impact on the organization’s morale as well as increasing expenses. Training and development within the organization has its own strategic positioning to achieve success.

Training and development directly leads to the attainment of organizational goals and objectives. There is a direct link between the organizational performance and various training and development practices. Attracting and retaining the potential employees is highly significant in the recent times.  Training is imparted to the employees by using new technologies and adapting varied innovative methods and encouraging them in gaining the employee’s trust. . According to Howard, Turban and Hurley, (2016) Increase in talent shortages in variety of advanced countries as the employees nowadays are more concerned about the employability instead of employment. There is a major shift from the traditional relationship of employer and employee. On the other hand, Ayeleke et al., (2016) argued that that this may also occurred due to current retirement strategies and practices than the issues associated with the increasing labor or skill shortage.

Long-term enhancement of the firm’s resources is obtained by strategically linking the skill development of the employees through progression, training and development. Asfaw, Argaw and Bayissa, (2015) mentioned that major focus of the organization is on retaining and developing its human resources so that it become valuable, rare, difficult to imitate and also leads to enhancing the competitive advantage of the organization. Successful employee engagement leads to transparency and alignment of the organizational workforce with the management policies to gain efficient culture and objective. An employee resigns from the organization for various reasons (Tahir et al., 2014). It is the duty of the top-level management to implement efficient retention strategies so that the employees feel more valued and satisfied with their job.

It is vital to think of retention measures as well as re-recruiting the organizational work-force. It is significant to identify what attracts the particular individual for the right job. Recruiting each time new staff is very expensive, time-consuming and very stressful. Salary is essential a vital factor for retaining the potential employees within the organization (Sheehan 2014). In the workplace, the employers are currently looking for a better career package. This includes comfortable and best company culture, diversity of responsibilities, career path and work-life balance.

Training the employees is a major part to reinforce the employee’s sense of value. Training helps the employees to achieve the organization mission and vision and also ensures them to have a solid understanding for their job requirement. Positive culture should be established to improve the corporate culture and increase in honesty, teamwork and respect for the employees (Obi-Anike & Ekwe, 2014). Positive corporate culture helps in attracting and retaining the good employees.

Positive Corporate Culture for Retention

Mentoring program is related with the goal-oriented feedback system that facilitates structured mechanism and through goal-oriented feedback system as suggested by Srivastava  and Dhar, (2015). This leads to creating strong relationship within the firm and also proves to be a solid foundation for employee’s growth and retention program. With the help of mentoring programs, organization can apply tactics like pairing an experienced employee in a particular discipline with someone less inexperienced in a given area.  The major goal is the generate employee specific competencies, designing individualized career and providing feedback for performances (Sung & Choi, 2014).

Employee motivation is another important factor to make the employees feel valued and responsible towards their job. It is important to reward the employees to motivate them for higher and better performances. Application of cash pay-outs can be used as on-spot recognition. These rewards have various significant motivational powers especially given after any major achievements (Obi-Anike & Ekwe, 2014). Meetings and surveys should be conducted to make the employers more committed towards their organization and stay maximum satisfied with their jobs.

Employee engagement leads to the reduction in the employee turnover. This also reduces the costs related to recruitment and training, therefore encourages stability. This further provides in developing establishing a better working environment (Deery & Jago, 2015). This would instantly lead to developing proper benefits within a team and help in spreading employee’s values and team loyalties.

Employee engagement through recruitment is also fundamental in attracting the and best employee. It is one of the best techniques applied by the firm to attract and retain employee. It is beneficial for the organization to have a consistent and strong branded recruitment process (Abugre & Adebola, 2015). It should be done to online with adequate feedback so that the outcome obtained is more useful. As per Deery and Jago, (2015) technology help in integrating and regulating human resource practices. It is important for the employees to put more emphasis on the people rather than the process. This would prove to be helpful in retaining employees.

It is highly essential that all the employees within the organization are well-equipped with the required skills as well as knowledge so that the productivity of the organization can be increased. Employees are the most valuable assets of the organization responsible for its consistent growth. Mentoring program usually would require to two weeks time to train and develop the employees.

There are several techniques through which the employees can be attracted and retained within the organization. The retaining and developing strategies helps them to perform more successfully for their jobs, which allows them to attain ore profit from the business (Howard, Turban & Hurley, 2016). Employee motivation would require two to three weeks. Encouraging participation and building self esteem helps in raising the motivation level of the employees.  Employee engagement is related with the various interactive techniques used to retain employees. Employee’s engagement generally would require 3 weeks time that is further linked through the interactive process done in last three weeks of the training plan.

Mentoring Programs and Employee Growth

Interactive training techniques keeps the employees engaged as they are more receptive to the new information. The techniques include a group discussion that is a most appropriate way to pass the skills of talented employees to the new employees. Demonstrations are also one of the most powerful tools for interactive training of the employees (Cloutier et al., 2015). Other interactive techniques constitutes are the applications of quizzes, active summaries, case studies, role playing. Participant control and questions and answer sessions.

E-learning or online based training is another effective technique to attract and retain employees in the current era of digitalization. This method is becoming more significant due to the increasing use of internet (Asfaw, Argaw & Bayissa, 2015). The engagement and guiding platform provides direct and immediate training for the employees in the need of the moment. Moreover, it is vital to keep the employees that is engaged or involved so that they are encouraged to retain new and valid information. For more effective results attractive learning methods with the use of humor should be practiced. Such kind of methods helps in creating a winning situation or environment by developing the confidence of the employees as well as making the training more interesting (Terera & Ngirande, 2014).

In the current scenario, there is a rapid increase in the technology. This gives rise to computer based training of the employees and the technological solutions are also effective in enhancing the training procedure of the employees. . The programs are also highly cost-effective. This training involves application of Text-only, CD-ROMs and multimedia training materials, which provides video, audio, stimulated animations or graphics, interactive training and three-dimensional programs (Howard, Turban & Hurley, 2016). The training programs are highly reliable and effective as the trainees learn according to their pace.

Conclusion:

It is highly significant in the recent times to acknowledge the value of employee retention. Effective training methods are conducted to provide maximum benefits to the organization or business. The skills when used effectively by the employees could lead to the consistent growth of the organization or the business. The organization provides adequate feedback to maintain cordial relation with the employees. Therefore, it can be concluded that employee are the most valuable assets of a company. Effective communication, employee motivation and employees engagement result in decreasing the employee’s turnover rate. In the current business environment, it is very important to retain the employees and fulfill their needs. Moreover in the recent times attributions can be highly reduced by continuous check-ins with the employees. Strategic planning of the organizational workforce is the vital element in ascertaining the potential talents within the entity. Similarly the retention plans are developed as per the methodology of the organizational training and development plan.

References:

Abugre, J. B., & Adebola, K. (2015). An examination of training and development of middle level managers in emerging economies: Evidence from financial institutions in Ghana. International Journal of Organizational Analysis, 23(4), 545-563.

Asfaw, A. M., Argaw, M. D., & Bayissa, L. (2015). The impact of training and development on employee performance and effectiveness: A case study of District Five Administration Office, Bole Sub-City, Addis Ababa, Ethiopia. Journal of Human Resource and Sustainability Studies, 3(04), 188.

Ayeleke, R. O., North, N., Wallis, K. A., Liang, Z., & Dunham, A. (2016). Outcomes and impact of training and development in health management and leadership in relation to competence in role: a mixed-methods systematic review protocol. International journal of health policy and management, 5(12), 715.

Cloutier, O., Felusiak, L., Hill, C., & Pemberton-Jones, E. J. (2015). The importance of developing strategies for employee retention. Journal of Leadership, Accountability and Ethics, 12(2), 119.

Deery, M., & Jago, L. (2015). Revisiting talent management, work-life balance and retention strategies. International Journal of Contemporary Hospitality Management, 27(3), 453-472.

Howard, L. W., Turban, D. B., & Hurley, S. K. (2016). Cooperating teams and competing reward strategies: Incentives for team performance and firm productivity. Journal of Behavioral and Applied Management, 3(3).

Obi-Anike, H. O., & Ekwe, M. C. (2014). Impact of Training and Development on Organizational Effectiveness: Evidence from Selected Public Sector Organizations in Nigeria. European Journal of Business and Management, 6(29), 66-75.

Sheehan, M. (2014). Investment in training and development in times of uncertainty. Advances in Developing Human Resources, 16(1), 13-33.

Srivastava, A. P., & Dhar, R. L. (2015). Training comprehensiveness: construct development and relation with role behaviour. European Journal of Training and Development, 39(7), 641-662.

Sung, S. Y., & Choi, J. N. (2014). Do organizations spend wisely on employees? Effects of training and development investments on learning and innovation in organizations. Journal of organizational behavior, 35(3), 393-412.

Tahir, N., Yousafzai, I. K., Jan, S., & Hashim, M. (2014). The Impact of Training and Development on Employees Performance and Productivity A case study of United Bank Limited Peshawar City, KPK, Pakistan. International Journal of Academic Research in Business and Social Sciences, 4(4), 86.

Terera, S. R., & Ngirande, H. (2014). The impact of rewards on job satisfaction and employee retention. Mediterranean Journal of Social Sciences, 5(1), 481.

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