Impact of employee training and development on organizational profits

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Added on 2021-06-15

Impact of employee training and development on organizational profits

Added on 2021-06-15

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Running head: HUMAN RESOURCE MANAGEMENTHUMAN RESOURCE MANAGEMENTName of the StudentName of the UniversityAuthor Note

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1HUMAN RESOURCE MANAGEMENTTable of Contents1. Introduction............................................................................................................................22. Discussion..............................................................................................................................21. Impact of employee training and development on organizational profits..........................22. Budgetary considerations in human resources for employee training...............................43. Reflection within NH Foods and changes for future.........................................................63. Conclusion..............................................................................................................................84. References..............................................................................................................................9

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2HUMAN RESOURCE MANAGEMENT1. IntroductionHuman resource management is one of the principle ways to manage an organizationeffectively to earn profit and gain competitive advantage. It helps to maximize employeeperformance and to form strategies with the employer to improve the overall welfare of theworkers (Armstrong and Taylor 2014). In this report, a number of questions are dealt dealingwith the impact of employee training on organization and budgetary constraints. Thefollowing paragraphs also highlight the impact on NH Foods and probable changes in humanresource management that can accelerate the profit of the organization in the future. 2. Discussion1. Impact of employee training and development on organizational profitsThe success of an organization depends on a number of factors of which impact ofemployee training and development holds a substantial part. Employee training is defined asthe training that is given to the workers of a particular organization to increase their overallcapacity to work and deliver results for the enterprise (Elnaga and Imran 2013). Training ofan employee helps the employee to work efficiently with minimum faults and attainmaximum gains for the organization. Until recently, there was a presumption that qualifiedworkers selected based on merit were capable enough to perform their tasks without the needfor any training but this concept has been proved all wrong in recent years. Training isrequired in all fields of work in order to motivate the employee to work better, develop skillsand in turn enhance productivity for the company (Jehanzeb and Bashir 2013). With the increase in competition levels among companies, better work skills areexpected from the workers that can help to increase the profitability of the workers in the end.With the rapid change in technology and market, each worker has the pressure to cope withthe changing work structure in which training and development skills provided by the

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3HUMAN RESOURCE MANAGEMENTcompany plays a vital part. With the increase in work efficiency of the workers with greaterloyalty for the organization, the company is bound to get extra revenue, which increases theorganizational profit. Without proper training, the workforce that is new to the company or isa complete fresher in terms of work experience will face great complexities in coping up withthe growing complexities of the work culture and increasing pressure to perform better(Kulkarni 2013). This will ultimately lead to lesser productivity for the brand and less profitat the end, which is of course not desirable by any organization at the end of the financialyear. The main aim of any business is to earn profit both in the short and long run andtraining does play an important part in it. Training of a particular employee makes him able to adapt better to the work that he/she is expected to perform. It also gives confidence to the employee and foster the spirit ofteamwork and corporation with the other employees and the trainers. This makes theemployee capable to work in a more organized way in the future with the brand (Goetsch andDavis 2014). The success or failure of and organization depends entirely on the level ofperformance the workers have. Without a good workforce, no company can fare better in acompetitive environment where cutthroat competition prevails at all sectors. Training is thesource of attaining good employee skills and fostering the confidence to work in a moreefficient way (Chinomona 2013). Without proper training, the employees will perform in aninformal way and work in a laidback attitude that will affect the organizational profit and thereputation of the company in the future. It is seen that trained employees perform in a better way than untrained employees do.The attainment of company goals is done in a proper and easier way that helps the enterpriseto flourish in the end (Konings and Vanormelingen 2015). Though the cost incurred fortraining purposes is seen as a short-term cost, it can prove beneficial for the future growthand sustainability of the brand. The relation between training and organizational profit is

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