- Posted by Vidcruiter
- On April 19, 2013
- 0 Comments
- applicant hiring system, applicant recruiting system, recruiting technology, video training
Are rising training costs worth it in the end?
Training and development is one of the most important facets in talent management. It focuses on improving what the organization already has in terms of it’s human capital. Because businesses change and work systems are innovated all the time to meet the demands of customers, it is important for organizations to continually improve how they do things. This is the secret to sustaining the quality of its human capital. Without training it is very easy to fall back in the race for business supremacy. The lack of it can even mean stunted professional growth for employees. Today it is not enough
to get the best talents out there. They need to be developed to ensure optimum performance. This necessity is what pushes training expenses up to the ceiling.
The need to learn is not a matter of choice
The need to train people is no longer just a choice. Organizations need to train its people year in and year out. There is no other way to sustain the momentum a business is enjoying but by engaging in training programs that are designed to hone better the people that makes the company functional and profitable. This need is expensive. Companies spend billions of dollars a year all over the world to train its people and this will only increase as business gets more competitive every year. The key here is maximizing every program to the point that it has good ROI. Through careful training needs analysis and a sound evaluation and follow-through program, the training program can provide returns that dwarf the investment for it. Quality training is the only way to justify its high costs.
The volume of things to be learned is increasing
Training costs are going up because the business world and the economy itself are driven by knowledge and information. People who are not trained to handle built-in technological tools in their daily tasks, for example, can be very inefficient and unproductive. This gap in learning can also affect the worker’s confidence to do the job resulting to low morale. This can affect performance and the quality of the worker’s deliverables. A simple training to get them up to date with the tools of the trade is enough to get him in sync with the demands of his job.
The need to update learning is necessary
The business landscape today can be summed up in 2 words – change and fast. Innovation that is injected to the way people work is delivered in blinding speed. Organizations that could not keep up are seen to be seriously affected as far as business competitiveness is concerned. Training is needed to keep people abreast with the latest changes and keep them working on a high level. The content of the training people went through 6 months or a year ago can prove to be obsolete today. Updating learning inputs is pushing training costs up – but it also present the organization an opportunity to seize competitive advantage. The choice is simple. Train or vanish.