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Running Head: TRAINING AND DEVELOPMENT ENVIRONMENT1 TRAINING AND DEVELOPMENT ENVIRONMENT [AUTHORSโ NAME] [AUTHORS ID] [COURSE] [PROFESSOR/LECTURER] [DUE DATE]
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TRAINING AND DEVELOPMENT ENVIRONMENT2 TABLE OF CONTENTS TABLE OF CONTENTS................................................................................................................2 1.0.Introduction...........................................................................................................................3 2.0.Benefits of Training & Development in Australian Commonwealth Bank.........................4 3.0.Methods Chosen to Conduct the Needs Assessment............................................................8 3.1 The methodology...................................................................................................................8 3.1.1. Questionnaires and Interviews.......................................................................................8 4.0.Evaluation of the Needs Assessment Process Used to Determine if Training and Development is..............................................................................................................................11 4.1.Levels of Evaluation.......................................................................................................11 5.0.Possible Outcomes If Needs Assessment is not Properly Planned or Conducted..............12 6.0.Conclusion..........................................................................................................................14 7.0.References..........................................................................................................................15
TRAINING AND DEVELOPMENT ENVIRONMENT3 1.0.Introduction According to Liaw 2012, Training and development refers to the official and continuing activitiesthatareconductedinacompanytoenhancetheproductivityofitsworkers. Alternatively, it can also be described as a learning process that includes the improvement of skills, ideas, alteration of approach and getting more insight to increase the output of workers. ThispaperpresentsatraininganddevelopmentassessmentneedfortheAustralian Commonwealth Bank. The performance gap is the variation between the present performance state and the intended or envisionedperformancestateofanorganization.TheAustralianCommonwealthBank envisioned to maintain a low-cost structure by growing their cost to asset ratio to over 2.22%, and improve the cost to income ratio to over 56.6%. Also, it plans to grow their net bank customers to figures above 89,000 customers(Anon, Strategic Visions and Goals, 2018). Performance gapanalysis helps the bank to determine how far it has come from and how far it ought to go to achieve its set objectives. The bank ought to perform a training and development need assessment in order to check for the effectiveness of training its employees in an attempt to seal the performance gap. This will ultimately improve each employeeโs output and the overall performance of the Bank.(Alphonso, 2014)
TRAINING AND DEVELOPMENT ENVIRONMENT4 2.0.Benefits of Training & Development in Australian Commonwealth Bank As different techniques are under constant development, many popular training techniques have demonstratedtobeveryeffective.Examplesinclude:simulationsandcomputer-centered training,classroomlectures,role-playing,casetrainingandorientations,Trainingand development curriculums may concentrate on the team or individual performance. The case study organization is the multinational Australian Commonwealth Bank. The bank envisions toexcel at securing and enhancing the financial well-being of the people, businesses, and communities.(Narasimham & Ramanarayanan, Sept 2014)A thorough scrutiny on the performance of the bank was done and the results indicated that the organization had not yet fully explored the off-shore value, there was an insufficient supply of financial services to customers,thepresenceoffluctuatingcustomerstructureandthebankhadnotfully implementedthebestpracticepeoplemanagement(Deden-Parker,2013).Allthethese confirmed that there was a performance gap caused by either inadequate orcomplete lack of skills by the employees whose solution would be to train them. For the bank toeffectively train and develop the program, it had to continuously measure and recognize their workersโ present training and development requirements in preparation for their forthcoming positions to realize greater progress and higher productivity during work(Dausend, 2017). Different employees have different needs which also variatewith time as they progress with their line of profession hence the reason to perform a needs assessment. Organizations have to recognize that various workers have various wants which alter as time goes by. Performance and productivity of the bank increase when the bank capitalizes on refining workers understanding and abilities.
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TRAINING AND DEVELOPMENT ENVIRONMENT5 Some other benefits include: Reduced supervision: Training enhances the essential skill collections of workers and encourages them to take tasks independently Higher productivity Employees remain updated on new technology & therefore apply present ones effectively thus improving their performance during work. When workers are trained, time, cash and capital are not wasted. Decreased of errors Once the employees acquire the desired knowledge and precise skills about how financial services are provided to customers the fewer errors are made. Talent pool Creation of a pool of well-trained employees with additional skills e.g. customer service, administration, and operations etc. aids to seal the positions when someone unpredictably quits the organization
TRAINING AND DEVELOPMENT ENVIRONMENT6 Discovers employee potential This helps to uncover employee potential or talent by giving them a chance to prove their abilities in areas (such as leadership) which they donโt get while working in the organization. Job satisfaction When workers have the ability to perform their obligation, they get satisfied with the part or position that they occupy in the organization. solves workerโs weaknesses Training eliminates employee weaknesses by enhancing employee skills and getting rid of inner barriers. Decreased turnover and truancy Training makes the employees be confident in their abilities hence feel secured in the organization. Due to this, Truancy and work turnover is minimized(Liaw, 2012). Increased consistency Access to consistent training make sure that all workers have a constant experience and constant knowledge of duties and methods hence tasks are completed in time with no questions to be asked. Decreased learning time
TRAINING AND DEVELOPMENT ENVIRONMENT7 Systematic training takes a shorter time than trial and error method Improved Team spirit Training and Development instill inter-team collaborations, teamwork, and team spirit which aids in incorporating an employeeโs desire to study. Optimum resource utilization Enhancement of technical skills of human resource through training leads to optimum utilization of the human resource(H., 2016). Skills Development Increases the job know-how and skills of workers at each rank Ingeneral,traininganddevelopmentareessentialfororganizationโsprogressandits achievement which is beneficial to both employers and workers of a company.
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TRAINING AND DEVELOPMENT ENVIRONMENT8 3.0.Methods Chosen to Conduct the Needs Assessment 3.1 The methodology. Critically looking into the current status of the Commonwealth Bank as outlined by the bankโs top management, both qualitative and quantitative needs assessment methods were used to conduct the training and development needs assessment. The Quantitative methods were used to collect data that can be measured or counted and in specific figures, statements, and numbers. While Qualitative methods which do tend to be more context-bound and also much descriptive in nature were also used., The sentiments and the views of persons being interviewed do have a very critical place in the qualitative methods and information collected(Report on Training Needs Assessment, March 2013). The methods included: 3.1.1. Questionnaires and Interviews The training and development needs assessment was done at an individual level at the top management level of the Commonwealth Bank and also for the senior management and the juniormanagementlevelsrespectively.Thiswascarefullycarriedoutthroughspecial questionnaires and personal interviews. Views of the executive member of the Commonwealth Bank and their assistants were collected with the aid of a special team. And the senior and junior members were interviewed at random.(United Nations Human Settlements Programme, 2013) The personal interviews and the questionnaires had the following key question which was tailored towards getting the finest training and development needs assessment most relevant to the management of the Commonwealth Bank as well as the efficient and skilled workforce. ๏ทThe experience level and the technical qualification of the officer/respondent.
TRAINING AND DEVELOPMENT ENVIRONMENT9 ๏ทThe key duties and the work profile of the respondent. ๏ทThe respondentโs qualifications and abilities to fully perform the assigned duties. ๏ทThe respondentโs awareness of key guiding rules and regulations of the Commonwealth Bank. ๏ทTherespondentsโawarenessofthekeymissionandapplicablestrategiesofthe Commonwealth Bank. ๏ทThe key areas of the training and development need assessment tailored towards meeting the operational objectives, improving the service delivery and fulfilling performance task for effective and well-elaborated management and service delivery to both prospective and potential customers. ๏ทThe preferable mode of training to be adopted. The two main categories of Commonwealth Bank top management staff which were requested to take part in the personal interview and fill the questionnaires included. ๏ทThe topmost Administrative officials which included the Commonwealth Bankโs Chief executive officer, the chairman of the Board, and the various directors. ๏ทThe various departmental managers. The other two categories which participated in a random interview and also filled up the questionnaires included: ๏ทSenior employees. ๏ทJunior employees. According to(Anon, Compliance-Risk Management Needs Assessment Program:Is Your Bank EffectivelyManagingitsComplianceRisks?,December2012),questionnairesarevery inexpensive and flexible means of collecting data, they are also a practical approach to data
TRAINING AND DEVELOPMENT ENVIRONMENT10 collection. Questionnaires can be used to target any specific group persons of your choice and one can tailor the questions being asked to meet the key objectives of the case study(Baun, Stepleman, & Swift, 2016).The study has shown that questionnaire is quantitative in nature and hence allow for easy and efficient analysis of results. According to(Report on Training Needs Assessment, March 2013)one of the most resourcefulforms of key research in-depth interviews as they target detailed attitudes, opinions and perceptions. Based on these facts the research adopted these methods.
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TRAINING AND DEVELOPMENT ENVIRONMENT11 4.0.Evaluation of the Needs Assessment Process Used to Determine if Training and Development isNecessary Evaluation is normally done to a needs assessment procedureto check whether the training program was effective or not.(Brownell, Lussier, Herson, Hagadorn, & Marinelli, Feb 2014) Therefore, training bodies and recipients of training, ought to be very accountable for each and every dollar invested in the training venture. Training evaluations, which demonstrates the end result of an investment process, are essential than ever before. Through a training result evaluation, the Australian Commonwealth Bank can substantiate the usefulness of its services; that the bank delivers training modules that enhance the performance output of their employees and their company. Also, these evaluation helps to know that the bank is not wasting its resources in training its clients on financial services that do not produce positive outcomes.(Hataway, March 2017) In addition to this, evaluation gives a useful response that aids in improving forthcoming training phases of both the training institution and the customer. 4.1.Levels of Evaluation Evaluation of: ๏งtraining occasions and recipientsโ instant responses, ๏งrecipientsโ learning ๏งwork performance outcomes ๏งperformance of an organization. According to Donald Kirkpatrickโs โhierarchy of learningโ, the outcome each step is dependent on the former step(Narasimham & Ramanarayanan, Sept 2014)
TRAINING AND DEVELOPMENT ENVIRONMENT12 5.0.Possible Outcomes If Needs Assessment is not Properly Planned or Conducted Poor planning of a needs assessment process leads to the following: High employee turnover Since the assessment training was carried out to enable the employees to overcome most of their weaknesses and thereby enhance employee skills, an insufficient and shallow training needs assessment will not enable them to meet their daily duties and this will result to some employees leaving the bank to find a better place of employment.(Anon, It Is Time to Shore Up Europe's Banks; ECB's Forthcominn Balance Sheet Assessment Needs Teeth , October 7 2013) Poor utilization of the banksโ resources. The aim of carefully and adequately planned need assessment was to address optimal utilization of resources, with improper planning and conducting needs assessment, the human resourceโs technical and behavioral skills will not have been strengthened and this will result in poor utilization of the bankโs resources. Low team spirit Adequately planned assessments need instills teamwork and collaboration among the employees, but when the assessments needs are not properly planned and conducted then the employees will not be at a position to foster teamwork(Updegorve, 2014), this will see most the employees embracing personal accomplishment of key duties in the bank.
TRAINING AND DEVELOPMENT ENVIRONMENT13 Encourages inconsistency in the workforce. With improper planning and conducting need assessments, the employees will not have constant experience and knowledge about their key roles in the organization, the various changing work environment and the available updated technologies at work.(Braaten, 2017)As aresult, the workload will increase the task will take a longer time to complete, there will be also inconsistency of the completed tasks by the employees. This will lower the productivity rate of the bank. Error-prone workforce Once the employees fail to acquire the key knowledge and precise skills about how fundamental financial services are provided to the potential customers as well as prospective customers. They will be prone to make errors when executing such critical duties(Tsai, Hsu, & Lin, January, 2011). This will, in essence, leads to loss of customers to their competitors. Inadequate talent pool The processes of creating a pool of well and adequately trained employees will be less effected. This will affect the bank especially when one of the key employees unpredictably quits leading to great malfunction, and losses. Needs assessment is one of the most expensive activities that any company can get engaged in to assist its workforce to gain the necessary skills and job relevance(Siclari, 2015). It is therefore key for the planners and coordinator to give it their prime attention to save the bankโs available resources.
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TRAINING AND DEVELOPMENT ENVIRONMENT14 6.0.Conclusion With reference to the above-detailed analysis, it is very clear that training and development need assessments are very key to the success of any business organization. The process of training and development needs assessment for the employees help to critically equip them with the necessary knowledge and skills necessary for improving the worker's output and taking the organization to higher performance level. The training and development need assessment should, therefore, be evaluated and carried out effectively and efficiently. The report above outlined in details the process of training and development needs assessment for Australian Commonwealth Bank which is the most established bank in the baking industry of Australia. It also included the methodology which was carefully looked into before being adopted for the purpose of this particular analysis. The various vast benefits of this training and development needs assessment are also clearly outlined in details making it more fitting for the Australian Commonwealth Bank to adopt as they improve the efficiency and throughput of their employees.
TRAINING AND DEVELOPMENT ENVIRONMENT15 7.0.References Alphonso, A. (2014). Branch Banking Assists Cross-Selling Approach: Andre Alphonso, General Manager, Australia, Forum Corporation, A Leading Financial Service Training Company, Discusses How The Banking Industry Needs to Rediscover The Role of Branch Manager.Australian Banking and Finance, Vol.13(15), p.3(1). Anon. (2018, May 01).Strategic Visions and Goals. Retrieved from Commonwealth Bank of Australia: https://www.commbank.com.au/content/dam/commbank/about-us/shareholders/pdfs/ annual-reports/1999_Shareholder_report_full_strat.pdf Anon. (December 2012). Compliance-Risk Management Needs Assessment Program: Is Your Bank Effectively Managing its Compliance Risks?Illinois Banker, Vol.9(11), p.16. Anon. (October 7 2013). It Is Time to Shore Up Europe's Banks; ECB's Forthcoming Balance Sheet Assessment Needs Teeth.The Financial Times, p.14. Baun, K., Stepleman, L., & Swift, S. (2016). Development of a Needs Assessment Tool To Guide Surgical Training.Obstetrics & Gynecology, Vol.128, p.59S. Braaten, D. (2017). 'Walking a Tightrope: Human Rights, Basic Human Needs and US Support for Projects in the Multilateral Development Banks'.Human Rights Review, Vol.18(1), pp.45-66. Brownell, E. A., Lussier, M. M., Herson, V. C., Hagadorn, J. I., & Marinelli, K. A. (Feb 2014). Donor Human Milk Data Collection in North America: An Assessment of Current Status and Future needs.Journal of Human Location, Vol.30(1) p.47-53.
TRAINING AND DEVELOPMENT ENVIRONMENT16 Dausend, L. (2017, 09 14).Leadership Development. Retrieved from Flashpoint Leadership Consulting: https:www.flashpointleadership.com/blog/training Deden-Parker, A. (2013). Needs Assessment In Depth :Professional Training At Wells Fargo Bank.Journal of Instruction Development, Vol.4(1), p.3-9. H., Q. (2016, March 05).Benefits of Training & Development in an Organization. Retrieved from Training & Development: https://kashmirobserver.net/archive/20160305 Hataway, J. (March 2017). Compliance Today (TM): State-of-the-art Testing PLatform Helps Banks Assess Their Employees'Training Needs.Texas Banking ., Vol106(3). pp.8-11. Liaw, K. A. (2012).The Business of Investing Banking: A Comprehensive Overview.New Jersy: Wiley. Narasimham, G., & Ramanarayanan, C. (Sept 2014). Analysis of Training Needs Assessment and Implementation-A Corporative Study of Public and Private Sector Banks.Indian Journal of Commerce and Management Study, Vol.(3), pp.71-79. ( March 2013).Report on Training Needs Assessment.Macedonia: Skopje. Siclari, D. (2015).Italian Banking and Finacial Law Volume 1, Supervisory Authorities and Supervision.London: Palgrave Macmillan UK. Tsai, W.-H., Hsu, W., & Lin, T. W. (January, 2011). New Financial Service Development For Banks in Taiwan Based on Customer Needs and Expectations.(Report).The Industries Journal, Vol 31(1-2), p.215(22). United Nations Human Settlements Programme. (2013).Training Needs Assessment and. Nairobi: UN-Habitat. Updegorve, K. (2014). Letter to The Editor Regarding"Donor Human Milk Bank Data Collection in North America: An Assessment of Current Status and Future Needs"From the Human
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