Training Programs Development Costs The purpose of this session is to understand

Question

Training Programs Development Costs

The purpose of this session is to understand that the recruitment and selection of employees is only the inital stage in bulding an effective workforce. In a rapidly changing environment, continuous training to hone employees skills and knowledge is necessary.

Find an article on the assigned topic in a current business publication. Current business publications include the Wall St. Journal, Business Week, Fortune. Name of Magazine or Newspaper Date of Publication Title of Article Part I Summarize in two or three paragraphs (more if necessary) the main points stressed in the articles. Part II Explain why you think the article is important in reference to this course. Please note specific chapter and/or topic. Part III What points in the article were you in most agreement with? Why? Part IV What points were you in most disagreement with? Be specific. Part V List three questions that you feel the article left unanswered Part VI Discuss three ways in which the article might have future impact on any aspect of Business. Be specific. Must be a business publication and all parts at the above must be covered.

Explanation / Answer

Article Name:

Ref: quote “Why employee development is important, neglected and can cost you talent.” unquote

Summary:

The author Victor Lipman discusses the lack of employee training and development in organizations. He also discusses how training and career planning of the employees is a neglected aspect of the corporate world. He feels corporate training is done mechanically and in a bureaucratic manner. The lack of thought in training employees leads to a high rate of employee attrition and many young talented individuals leave.

Later in the article, he feels he has also not made efforts to develop his own employees. Also discusses the need to have spent more time with his managers. He refers to an article whereby the study of 1200 young achievers indicate that most of their training was on the job development and formal training, coaching and mentoring was not provided. The much-needed formal career development support was not provided by their employers.

The development of young talent is not executed because management is focused on the day-to-day operations. Secondly, training is provided in a bureaucratic fashion just to complete the training process. Lastly, most managers always have an excuse of being busy with some very important tasks.

In the last part of the article, he discusses the need for training and how it is important. He indicates that providing training can build loyalty among young employees, it motivates the young talent and the process makes the employees more productive.

To sum it up he mentions that the cost of developing the young talent is not much. It just requires management to understand the gaps that exist in employee skill set and help the employees to fill the gaps.

Part II

It is important to this course as it discusses the key aspects that we have studied in the chapter on the reasons why training of employees and young talent will make them more productive and useful for the organization. It also discusses how training and developing is neglected and can prove very beneficial. Further, the article also discusses that the developing of employees is not costly and can generate high returns in terms of retaining good talent, making employees more productive and building employee loyalty.

Part III

I am in agreement with the following aspects of the article: The importance and need to develop and train young talent.

My reasons are that it can increase the productivity of the organization and build a loyal young motivated team for the organization at a negligible cost. The motivated young talent will give far more return in term of performance and it makes good business sense:

Part IV

I disagree with the following:

Part V

The three questions in the article are not addressing:

Part VI

The future impact on business will be as follows:

Reference:

“Why employee development is important, neglected and can cost you talent.”

Dated Jan 29, 2013, by Victor Lipman"

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