In an ever-changing and fast-paced corporate world, the training and development are the two most indispensable functions. The training and the development both are one of the lowest things on the priority list of most of the IT companies. When it is organized, it is often at the persistence of the human resource department. However, the enormous value to organize the proper training and development sessions for the employees, training allows the employees to acquire new skills, increase productivity and be better leaders. Since the organizations are the sum total of what the employees achieve individually, the companies should do everything in their power to ensure that the employees perform best at their peak.
Training and development present the prime opportunity for expanding the knowledge base of all employees, but there are many of the employees who find the development opportunities expensive. The employee also misses out on work time while they are attending training sessions that lead to a delay in their project completion. Despite the potential drawbacks, the training and development both helps you to provide the company as complete and individual employees with advantages that make the cost and time a worthwhile investment. Training and development help in developing the leadership skills, motivation, loyalty, better attitudes and also many other aspects of a successful worker and manager.
Before we go in much detail about the importance of training and development in the organization, let us first understand more clearly about what training & development mean and what the basic difference between them is.
Both training and development are the indispensable part of human resource function and management. Both of these activities aim at improving the performance and the productivity of the employees. Training can be defined as the program which is organized by the organization to develop the skills and knowledge in the employee's job requirement. Conversely, the development can be defined as the organized activity in which the manpower of the enterprise learn and grow, like self-assessment act. In training, the employees are imparted by the technical knowledge and skills, and while in development is the sort of educational process which mainly focuses on the growth and maturity of managerial personnel. Training is considered to be the short-term and job oriented process. On the other hand, development is considered to be the career-oriented and long-term process.
Difference between training & development
To highlight the difference between them, the American society of training and development (ASTD), noted that the organizations shell out more than $164 billion to get their employees up to the speed with the help of training and development, in the year 2012. An employee training and development is a program that allows for a seamless transition between the two and to get the most bangs for their recruitment buck. In recent years, the process of training and development has drastically been changed by Human Resource Management. The best practices recognize the distinction between the training and development and the structure of the learning modules accordingly. The primary objective of training and development is that in training it helps to ensure that employee of the organizations are equipped with skills and knowledge and in development; individuals are equipped with skills and knowledge.
Now, let’s learn about the importance of training and development in an organization in more detail is described below:
Each and every individual has the shortcomings, and training & development help the employees to iron out. For ex: at RainGain, we have divided the complete headcount into several groups for providing the focused training to people.
If the shortcomings and the weaknesses are addressed, it is obvious that the performance of the employees will improve. Training and development, however also goes to amplify your strength and helps you to acquire new skills and knowledge.
Companies, who invest in development and training, generally have satisfied employees. However, the exercise has to be relevant to the employees, due to which one can learn something and also can take back some of the required things.
Importance of training & development
In the rapidly evolving landscape, the productivity of the business is not only dependent upon the employees but also the technology that they use. This goes long way in getting things done effectively in most productive manner.
Employees who have ever attended the training and development sessions requires lesser supervision and guidance as they are been made strong enough in their training session to handle all aspects of issues.
Below are the some of the benefits of training and development which one should know before they start the training in future, such as:
Training and development help the employees to make them feel more stratified with their role that they had to play in the company or in the organization. All this is driven by great ability which they gain to execute their duties.
Training helps to create a feeling of confidence in the minds of employees as an employee turn around costs time and money. It helps them to give a feel of security at the workplace. As a result, the labor turnover and absenteeism rates are decreased.
Most of the software development companies overlook the hidden talent of their employers, training, and development offers a catalytic platform for the employees to share their ideas with management and prove themselves as best.
A well-organized training and development program gives the employees costs knowledge and the experience. Access to the regular training and development ensures that all the employees have a constant experience and knowledge.
Training and development process helps the employees in instilling the sense of teamwork, team spirit and team collaboration which also helps to reduce the insulating a zeal to learn among the employees in future.
Both training and development significantly help to offer an opportunity and broad structure for the development of HR technical and behavioral skills in the business that ultimately results in optimum resource utilization.
The training and development have been considered as one of the most critical aspects for the job creation in India. India has a unique demographic benefit with greater than 60% of the population. As per the recent statistics, about 10% of the fresh graduates are employable and rests of the 90% of the graduates are lacking skills required for selection to be hired by corporate. India’s GDP is increasing at the great rate of 6-8%, but the creation if not catching up with the job, due to poor training of the employees. In a time of drastic change, it is the learners who inherit the future said by American philosopher, Eric Hoffer. On the human capital upfront, the total budget to be spent on training and development of employees is about 8 to 10% with a total annual of over $100 billion. Since 2012, this is also a market which has been growing at 15% every year.
Future of training & development
The Indian organizations are always seen as a low investment in the training and development sessions which is further complicated by high employee turnover that leads to perceived loss of training investment that is incurred by the employer. With the help of the training and development process, the leading IT companies can go towards the entry-level sill building programs and can help the employees to achieve more success in their career. For this, Infosys at Mysore is a great example as at 3-6 months every year, they use to hire 25000+ fresh candidates and provide them a dedicated training so that the candidates can perform well further. At 53.5 million strong, millennial in India are on track to become the largest living generation and want to make up the labor market up to 75%, by the year 2025. Technology is the essential driver that can help the employees to scale up their initiative and become the successful person in their career.
Both the training and the development are the key measures and a very important aspect for every organization for the overall development of business as well as the employees. Employees training help to know the process and follow the rules which lead to productivity, while the development is the overall improvement of the employees in terms of work.