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प्रश्न
Bring out the need for on-the-job-training for a person.
उत्तर
Training refers to the act of acquiring skills, knowledge and competency required to perform a particular job efficiently and effectively. On-the-job training is the most effective kind of training to a trainee, imparting him the technical skills and know-how at the actual work site. In this type of training, a trainee is assisted (or hands on) and trained by a trainer (usually by an experienced employee), when the trainee is actually doing the job. This helps the trainee not only to acquire the theoretical and practical skills simultaneously but also enables him to learn from the experiences of his trainer, thereby, can increase his efficiency and productivity. This is the most common type of training programs because the returns in terms of increased productivity far exceed the cost of the training. Thus, the expenditures on such training improve the quality of human capital by enhancing its productivity, efficiency and income earning capacity.
The need for on the job training has been highlighted in the following points:
i. On-the-job training is the most common method to train freshers or new employees.
ii. This type of training helps the trainee to acquire the theoretical and practical skills simultaneously.
iii. It enables the person to absorb values, norms and standards of an organisation within the organisation because the employee sees them in everyday action.
iv. As it is done under the supervision of a skilled or experienced worker, the trainee can learn from the experiences of the supervisor.
v. It is a cost efficient method as the benefits accruing in terms of higher productivity outweigh the expenditure incurred on such training.
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संबंधित प्रश्न
What are the two major sources of human capital in a country?
Discuss the following as a source of human capital formation
Health infrastructure
Discuss the following as a source of human capital formation
Expenditure on migration.
Explain how investment in education stimulates economic growth.
______ five-year plan recognized the importance of human capital.
Which one of the following is a reason for poor human capital formation in India?
Which one of the following is a major source of human capital formation in the country?
Match and choose the correct combination.
| (i) | Preventive medicine | (A) | Medical intervention during |
| (ii) | Curative medicine | (B) | Vaccination |
| (iii) | Social medicine | (C) | The spread of health literacy |
Ms. Ramanpreet has started a new business venture, she intends to spend a huge amount towards ‘on-the-job training’ of her workers before putting them to work. It exhibits the right step in the direction of Human Capital Formation.
Spot which of the following does not directly contribute to the process of human capital formation by Ms. Ramanpreet -
Read the given case study and answer the questions
Traditional economic theory viewed capital in physical terms only. Economists during the late 1950s based on the aggregate production function found that the standard measures of simple labour and physical capital were incapable of explaining adequately the rapid post-war growth. Speculations on what was missing were diverse. Some argued that the principal explanation lays in the lack of appropriate adjustments for improvement in the quality of physical capital and the embodiment of technical progress in that capital. Others suggested that the most important omission pertains to the organisational advance or a vaguely specified human capital. The residual of unexplained growth was at first ascribed to technology by Solow, but later, the residual was defined to include improvements in the quality of capital can the investment in human beings. Human capital is formed with improvement in skills education. Improved health and education is merit as well as a public good and is associated with a large number of externalities which are often indirect, indivisible and non-quantifiable.
Consider the situation of 2 countries – A and B. Country A has invested more towards the
technological progress whereas Country B has invested more towards expanding its military
network and arms. To Solow, which country would go faster?
Which of the following is an example of curative medicine?
Which of the following points are related to the costs of migration?
Which of the following points indicates that economic growth and infrastructure development are related to each other?
Read the following statements carefully.
Statement 1: On-the-job trainings help to bridge a gap between theoretical concepts and practical experiences.
Statement 2: On-the-job trainings update the employees, with the latest changes in their work field.
In the light of the given statements, choose the correct alternative:
"Expenditure on On-the-job training is an important means of human capital formation in an economy."
Give valid reasons to justify the given statement.
“Ravya was initially working as an office clerk in a firm. In the pursuit to attain, a higher position and income, she attended a few on-the-job training sessions. These sessions contributed positively to her skills and expertise.”
Explain the impact of Ravya’s decision on human capital formation.
State with valid reason whether the following statement is true or false:
“Higher productivity and production are the outcome of investment in human resources.”
