Aims of Training and Development Essay -- Business and Management Stud

Aims of Training and Development Training can be teaching employees new skills that are relevant to their current job position or refreshing the skills that they already possess. To have a good training and development programme enables firms to develop individual employees and the organisation itself as training is one of the best forms of motivation. Employees are able to broaden their knowledge and become more valued within the firm. Having a well-trained workforce is greatly beneficial for a company as employees are likely to be more motivated and target driven. Also various jobs and tasks are likely to be carried out more efficiently if the workforce is highly skilled at what they do. Listed below are some off the main benefits to a company in having a well-trained workforce: - Training and development will enable a company to have a much more flexible workforce - Employees will become more motivated and are then likely to be more productive - If employees are offered advanced training in areas such as ICT, HSBC may find that can progress further as a firm into more advanced markets - If employees are motivated and comfortable in the work they do there will be a fall in absenteeism - If employees are properly trained in health and safety accidents around the workplace will be reduced Ø Types of Training The three main types of training that companies offer are: - Induction Training - On-the-job Training - Off-the-job Training Induction Training This involves introducing new employees to the workplace, existing employees and showing them what the job will entail. It is important that the they get an idea of how the company is run, the companies history and that they get familiar with the services and products the company offer. During the induction process employees will be shown health and safety procedures and the basic layout of the workplace. This is so they know where an appropriate member of staff if a problem was to occur. The induction process allows employees to gain essential knowledge before starting their job and ensures safety and maintenance in the workplace. On-the-job Training During on-the-job training employees are taught the skills and techniques they need while actually carrying out their job. Types of on-the-job training include Coaching and Mentori... ...nowledge and this will depend on their learning ability and training needs. To plan this properly HSBC design a training and development plan and use it to summarise the required financial support. The training is split into: Ø Training and Competence Ø Management Development Ø Supervision/team leader courses Ø Professional qualifications Ø Maintenance of professional knowledge Ø Learning Centre Ø Individual training needs – HSBC Ø Individual training needs – external The finance department will budget a certain amount for training and the training department will have to make sure they stick to it. This means that the training department would have to justify all costs associated with the various training and development methods. They would have to assess how many hours and how many workers the training will use to get a rough idea of the cost. Clearwater Strategy HSBC use a strategy known as â€Å"Clearwater†. This is a strategy for differentiating the bank from its competitors through the provision of high quality customer service. This would create an environment conducive to increased sales producing income growth and thus increased profitability.