- Posted by Vidcruiter
- On December 27, 2012
- 0 Comments
Linking profitability and growth with training interventions
Training and development are one of the best ways to sustain competitive advantage. In a time where products and services within a specific industry have shallow differentiation, the secret to keeping the edge lies on how people in organizations work. The ability of the workforce to be creative and make innovation possible is what makes or breaks a business. Training can make sure that people are learning the things that they should and ensure at the same time that these learning inputs are passed on effectively and applied in the job. Human capital performance becomes a defining factor in organizational growth. It makes long term success possible.
Learning gaps and improved performance
Performance at work can be optimized by training people to fill in key professional deficits. Learning gaps can take the form of lack of knowledge and skills and sometimes the lack of the right attitude to perform best in a job. Training and development can easily identify these gaps making it possible for the organization and its human capital to change the way it works driving the organization forward. There is no way for an organization to outperform its competitors without empowering its people with knowledge and skills that can contribute to the quality of its offerings. It is easy to depend solely on the company’s reputation and brand, but in today’s business landscape, both of these things will not stand a chance against a learning organization that has all the intention to be better at what it does through pursuing key knowledge and skills applicable in its industry.
Organizational growth and talent retention
Retaining talent is getting harder and harder these days as the ideals of people on which company to work for is changing. There was a time when pay and stability were the leading motivators to retain people. Today with the changes in the economy and the pressing need for professionals to be experts in their respective field, quality training, and development programs are now becoming key considerations for people to stay in an organization or find another that can provide them with more opportunity to grow professionally. By retaining people through good training and development interventions, the organization can keep its momentum at the same time develops its human capital to better contribute to the bottom line.
Harnessing corporate strengths through training
Training can help organizations capitalize on its key strengths while managing its weaknesses better. This makes training and development a strategic undertaking allowing an organization to be proactively involved with its business. Without training, companies can easily miss out on opportunities as the workforce is not ready to maximize industry trends.
Evaluating and maximizing training
Training can only be a maximized if it can be evaluated properly allowing organizations to refine its existing training programs. Often times training interventions are done haphazardly or executed for compliance. Evaluation enables organizations to gauge the effectiveness of the program and compete for ROI, justifying the cost and its direct contribution to the company’s growth.