Training and development is a program that helps employees learn definite knowledge or skills to develop performance in their present roles. Development is more expansive and focuses on employee growth and future performance, rather than an immediate job role.
Benefits to the organization
The benefits of training and development to an organization are as follows:
(i) Training is a systematic learning, always better than hit and trial methods which lead to wastage of efforts and money.
(ii) It enhances employee productivity both in terms of quantity and quality, leading to higher profits.
(iii) Training equips the future manager who can take over in case of emergency.
(iv) Training increases employee moral and reduces absenteeism and employee turnover.
(v) It helps in obtaining effective response to fast changing environment – technological and economic.
Benefits to the Employee
The benefits of training and development activity to the employees are as follows:
(i) Improved skills and knowledge due to training lead to better career of the individual.
(ii) Increased performance by the individual help him to earn more.
(iii) Training makes the employee more efficient to handle machines. Thus, less prone to accidents.
(iv) Training increases the satisfaction and morale of employees.