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Question
What are the advantages of training to the individual and to the organisation?
Solution
Training is an important aspect of any organisation. It aims at building the skills and abilities of the individuals to perform a job. Training is an essential part of the job which attempts at improving the aptitude and knowledge of a person as per the job requirement. With the ever changing business environment, the complexity of the jobs has increased. Thereby, training has become all the more essential. The following are the highlighted benefits of training to the employee and the organisation.
Benefits to the Employee
(i) Better Career Opportunities: Training enhances the skill and knowledge of the employees and thereby, helps in improving their career prospects.
(ii) Earn More: By helping the individual to learn more it assist them to earn more. Training enhances the individuals understanding and knowledge. Thereby, it improves their efficiency and performance. As a result, it gives them a chance to earn more.
(iii) Less Accident Prone: Training attempts to make the employees more adept and efficient in handling the machines. Jobs that require the employees to work with complex machines and in more accident-prone areas need to emphasise strongly on training and development, as it helps them in taking precautionary actions. Thus, it makes the employee less prone to accidents.
(iv) Self-Confidence: Development and training direct the individuals to work more efficiently that in turn builds up required morale within the individuals. It increases their self-confidence and self-reliance thereby, contributing to higher job-satisfaction.
Benefits to the Organisation
(i) Less Wastage: Training is a concept that involves systematic learning of work. It is a more efficient way of learning than any hit and trial method. This leads to less wastage of time and money. Thereby, it helps in optimum utilisation of resources.
(ii) Higher Profits: By developing the individuals and making them more efficient, training enhances their productivity in work. Due to increase in both qualitative and quantitative productivity, the profits of the company rise.
(iii) Managerial Efficiency: Training prepares the employees to face new challenges in different situations. This helps them in building effective responses to various situations. Training also equips the future managers to take precautionary step in case of emergency.
(iv) Reduced Absenteeism: Effective training helps in boosting the morale of the employees. Thereby, it helps in reducing the rate of absenteeism and employee turnover.
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