I found a good article on Training as an Investment on people Development and Retention....
The right employee training, development and education, at the right time, provides big payoffs for the employer in increased productivity, knowledge, loyalty, and contribution. Learn the approaches that will guarantee your training brings a return on your investment.
The American Society for Training and Development (ASTD) "estimates that U.S. organizations spend $109.25 billion on employee learning and development annually, with nearly three quarters ($79.75 billion) spent on the internal learning function, and the remainder ($29.50 billion) spent on external services."
Licensing, certification, continuing education, and training to retain and grow skills are becoming increasingly important. According to the State of the Industry Report 2006: The American Society for Training and Development's Annual Review of Trends in Employer-Provided Training, the amount of employer-provided training is rising. The ASTD annual report "look[s] to exemplary organizations from the ASTD Benchmarking Forum (BMF) and the BEST [training] Award winners to determine how they invest in employee learning and development." Important Aspects of Training
How training needs are determined, how training is viewed by employees, and how training is delivered become critically important issues. Training trends and methods for gaining knowledge, other than traditional classroom training, such as coaching and mentoring, take center stage.
New employee orientation, or new employee onboarding, is a significant factor in helping new employees hit the ground running. Training that helps each employee grow their skills and knowledge to better perform their current job is appreciated as a benefit. Training also increases employee loyalty, and thus retention, and helps you attract the best possible employees.
Transfer of training from the training provider, whether online or in a classroom, to the job, is also increasingly reviewed as you invest more resources in training.
Learn the approaches that will guarantee a return on your investment and ensure employee loyalty. Organizations are increasingly asking for monetary justification that the training provided produces results - be prepared to demonstrate your results. Options for Training and Education for Employees
Options for employee training and development are magnifying due to these factors:
∑ technological innovations,
∑ employee retention strategies, and
∑ the need for organizations to constantly develop their employees' ability to keep up with the pace of change.
So, sending an employee off for training at a one-day seminar or a week-long workshop is only one of many options that exist now.
The American Society for Training and Development has traditionally recommended a minimum of 40 hours of training a year for every employee. This is consistent with the emphasis employees place on the opportunity to grow and develop both their skills and career while in your employ. The chance for ongoing development, is one of the top five factors employees want to experience at work. In fact, the inability of an employee to see progress is an often cited reason for leaving an employer.
As a retention strategy for your preferred employees, training and development rates highly. Only their perception of their salary and benefits as competitive, and reporting to a manager they like, rate higher. Options for Employee Training and Development
When you think about education, training, and development, options exist externally, internally, and online. Choices range from seminars to book clubs to mentoring programs. Here are the existing alternatives to help your employees continue to grow. For recruiting, retention, and managing change and continuous improvement, adopt all of these practices within your organization. External Education, Training, and Development
∑ Seminars, workshops, and classes come in every variety imaginable, both in-person and online.
∑ Take field trips to other companies and organizations.
∑ Colleges and universities, and occasionally, local adult education, community colleges or technical schools provide classes. Universities are reaching out to adult learners with evening and weekend MBA and business programs.
∑ Professional association seminars, meetings, and conferences offer training opportunities. Internal Education, Training, and Development
∑ Onsite seminars and classes provide training customized to your organization.
∑ Coaching gives employees the opportunity to share knowledge.
∑ Mentoring is increasingly important in employee development and training as are formal mentoring programs.
∑ Form a Book Club at work. What Your Organization Can Do to Facilitate Continuous Learning and Regular Training
∑ Create a learning environment. Communicate the expectation for learning.
∑ Offer work time support for learning. Make online learning and reading part of every employee's day.
∑ Provide a professional library.
∑ Offer college tuition reimbursement.
∑ Enable flexible schedules so employees can attend classes.
∑ Pay for professional association memberships and conference attendance annually for employees.
Training is crucial to the ongoing development of the people you employ and their retention and success. Be creative to provide diverse opportunities for training.
From India, Bangalore
I like the article and I would like to use it with some changes, do u mind if I did.
Because I would like to create a library for HR and I want some good articles to convince the management to let me do so for the other departments.
From Canada, Toronto
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