This website uses cookies to ensure you have the best experience. Learn more

The Benefits Of Human Resource Investment

2665 words - 11 pages

Organisations around the world have for years invested a great deal of their resources on employee training and development. Snell and Bohlander in their book (2006: 150) refer to the training magazine ongoing industry report (2004) asserts that in 2004, U.S. businesses spent more than $50 billion in training and development of their staff. According to Michael Armstrong (1993: 508), “training is the systematic development of knowledge, skills and attitudes by an individual to perform adequately a given task or a job”. The main purpose of training is to improve the performance of the organization by improving the performance of its employees (Currie 1997). Training and development of employees essentially means providing them with knowledge and skills that may boost organisational performance. The aim is to render their work more efficient and enable them to adapt to upcoming trends or become multitask. Training is mostly performed for a specific job or task and it is short-term while development is long-term and it encompasses general operations. Training is also more technical unlike development, which is more theoretical (Currie 1997). Many profit-making organisations have as their end goal to increase productivity which then translates into increased profitability. Bearing this in mind and despite the benefits that accrue organisations, many are still reluctant to invest in this endeavour (Gratton 2007). The aim of this paper is to look into the benefits of training and development for both firms and employees and explain why some organisations and individuals are reluctant to invest in training.
As already mentioned, training and development of employees entails numerous benefits for both a firm and its employees. One of its main benefits is that it results in higher productivity, which is achieved by improving the performance of existing employees in terms of working speed and quality. This is because trained employees can utilise new techniques and systems, thereby contributing to increased profitability of the business (Taylor 1989; Armstrong 1995). Furthermore, training can minimise the fear of employees to probable changes in the company. The morale of employees is increased, which makes them identify more easily with the profit path and the specific goals of the business (Taylor 1989). Due to improved performance, the firm creates a positive image in the process (Boxall & Purcell 2007), which in turn offers it a competitive edge over its rivals and may allow it to acquire a sustainable market leadership position. For a business, another positive effect of training and development is that the firm can recruit high quality employees by offering them the opportunity to improve their skills. In such a way, it can obtain higher earnings, offer better career prospects, and quite importantly, benefit from an adequate workforce and thus not be dependent on the labour market (Armstrong 1995; Grugulis 2009). Also, as Grugulis (2009) explains...

Find Another Essay On The Benefits of Human Resource Investment

The Responsibilities of Human Resource Managers

740 words - 3 pages . The major responsibility of HR managers is to think about their employees, their work relationships, their feelings and emotions, and their ideas and differences. That is why the Human Resource Management is important in an organization. Human Resource Management is a management function that tries to accomplish the organization’s requirements to the skills and abilities of its workers. In this organizational world, people are bounded by

The Role of Human Resource Management

1491 words - 6 pages Human resource management (HRM) can be described as a function within a firm that is concern with recruitment, management and provision of direction for individuals working in the firm. HRM is an organizational activity that is concern with issues related to employees such as hiring, compensation, wellness, safety, employee motivation, benefits, administration, communication, and training (Heathfield). HRM is also a comprehensive and strategic

The Importance of Human Resource Management

1377 words - 6 pages Human resource management (HRM) is undoubtedly being considered as an indivisible element of the organisations from the outset. From recruitment to employee retention, HRM has always committed to assist company to search and retain talents that have values toward the sustainable development. In view of the fact that, there are several studies with evidences presented to prove that there is a relationship between HRM and organizational

The Practice of Strategic Human Resource Management

1522 words - 6 pages support each other* Be capable of being turned into actionable programmesStrategic FrameworksThe formulation of coherent HR strategies is more likely if the overall approaches the organization intends to adopt to managing its human resources are understood. The most common approaches are* The development of resource capability* High-commitment management* High performance management* Best practiceResource CapabilityThis approach regards the firm as

The Benefits and Ethics of Human Cloning

1522 words - 6 pages The Benefits and Ethics of Human Cloning Introduction On February 24, 1997, the whole world was shocked by the news that Scottish scientists had successfully cloned a sheep. Dolly an artificially cloned mammal was born a star. After the shock, that cloning was not only a possibility but a reality, wore off the out cry against human cloning began. Physicians, scientists, politicians and church leaders and many more have been trying to ban

The Human Resource Function

2766 words - 12 pages HR departments perform different tasks. They might take full responsibilities for human resource activities in some companies whereas in others they will share the role with managers. Some of the responsibilities of HR departments are: employment and recruiting, training and development, compensation, benefits, employee services, employee and community relations, personnel records, strategy planning, health and safety. The role of HR has changes

Benefits of Human Management

829 words - 4 pages return on training investment that the company was receiving (Phillips, 2002). When employees lack skills and empowerment, these become obstacles to achieving organizational level strategic goals. In addition to the above mentioned benefits of human resource management activities, an organization would be remiss if they failed to have a senior human resources leader at the strategic planning table to ensure the most coherent and effective

Benefits of Human Cloning

1494 words - 6 pages of human cloning still overweigh the benefits; therefore, it is necessary to have an international and national organisation to monitor the development of this technology. Human cloning especially therapeutic cloning is the solution for health problems. It can be used to clone stem cells to cure diabetes patients, help discovering new medicines, and supply organs and tissues to transplant. Scientists use patient’s skin cells to produce new stem

Benefits of Human Cloning

3194 words - 13 pages ). In summary, I view the future possibilities of the cloning revolution as being limitless. With the advancement of any type of new scientific technology, we, as human beings, are going to be skeptical. Therefore, I strongly support the pros of the cloning debate who suggest that we should stop focusing on our hypothetical fears, and think about the tremendous scientific benefits that cloning could bring mankind. In summary, as I have outlined

The Importance of the Human Resource Manager´s Role

1283 words - 6 pages 1.0 Introduction Human Resource Management of business organization is responsible to various responsibilities to ensure the operations of the business are possible with adequate staff and necessary skills are in them. Playing the most important service for any business, human resource manager are responsible to the most important and challenging aspect that is employee employer relations. This aspect of human resource management gets

Human Resource Management and the Impact of Information Technology

1491 words - 6 pages which the organization is recruiting ("Human Resource Implications"). The information technology also demands continuous attention, and planned investment, in the workforce training. Training and development is of utmost importance an in order to get the best options human resource must explore all possibilities. When budgets are low, organizations usually cut training first, but in today's technical world this is not very practical; therefore

Similar Essays

Hr Benefits Package This Paper Is A Hypothetical Benefits Package For An Assignment In Human Resource Management

713 words - 3 pages Benefits PackageThe SMC Company has traditionally only provided government mandated benefits. The company has determined that in order to attract and retain qualified employees that the must begin to provide additional employee benefit plans.Health & Welfare PlansThe SMC Company understands the importance of having a healthy work force. The Human Resources Department recommends that the company begin to offer a Medical Insurance Plan to its

The Evolution Of Human Parental Investment

1452 words - 6 pages limiting mating opportunities and the benefits of increasing offspring survival and reproduction. Thus, human paternal investment must have evolved because the benefits outweighed the costs. Paternity certainty is crucial to a father giving parental investment, because investing in someone else’s offspring provides no benefits to one’s inclusive fitness (Barrett et al., 2002). Many cultural practices exist to guarantee paternity certainty in

The Benefits Of Human Cloning Essay

1129 words - 5 pages The Benefits of Human Cloning In recent years, many new breakthroughs in the areas of science and technology have been discovered. A lot of these discoveries have been beneficial to scientific community and to the people of the world. One of the newest breakthroughs is the ability to clone. Ever since Ian Wilmut and his co-workers completed the successful cloning of an adult sheep named Dolly, there has been an

The Internationalization Of Human Resource Management Printed

9045 words - 36 pages company due to how effectively it manages its people. As the environment becomes more global, managing people also becomes more challenging, more unpredictable and uncertain and more subject to rapid change and surprise. Thus what we are witnessing within human resource management is the rapid appreciation for and development of all aspects of global and international activities and issues associated with and affected by human resource management