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Aims of Training and Development

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Aspects of a businesses training and development programme, and its importance to the business > Aims of Training and Development Training can be teaching employees new skills that are relevant to their current job position or refreshing the skills that they already possess. To have a good training and development programme enables firms to develop individual employees and the organisation itself as training is one of the best forms of motivation. Employees are able to broaden their knowledge and become more valued within the firm. Having a well-trained workforce is greatly beneficial for a company as employees are likely to be more motivated and target driven. Also various jobs and tasks are likely to be carried out more efficiently if the workforce is highly skilled at what they do. Listed below are some off the main benefits to a company in having a well-trained workforce: * Training and development will enable a company to have a much more flexible workforce * Employees will become more motivated and are then likely to be more productive * If employees are offered advanced training in areas such as ICT, HSBC may find that can progress further as a firm into more advanced markets * If employees are motivated and comfortable in the work they do there will be a fall in absenteeism * If employees are properly trained in health and safety accidents around the workplace will be reduced > Types of Training The three main types ...read more.


In this 6 weeks employees will learn about the company's culture any other relevant information. The company's structure will also be discussed, as this is important information for any employee. This allows employees to really get an insight in to what HSBC is really about and allows them to decide whether or not the company is for them. This induction process also includes a health and safety training programme and aids employees to adjust to the new working environment. As with any type training costs are incurred by the business but it is obviously a worthwhile programme for HSBC as they still run the course. Job Specific Training Job specific training is common within the financial industry as the types of financial products on offer are ever changing. Also in the financial industry ICT development dictates the way the business is run. For this reason job specific training is vital if employees are to keep up to date with the company's new developments. If HSBC were to launch a new financial product employees would have to go on intensive training courses to get familiar with the package. Once the training is complete the employees that took part would receive some form of certificate to acknowledge their achievement. Personal Development HSBC offer courses to their employees that are not directly linked to specific job roles. These include IT courses and language courses. ...read more.


This would involve employees using their own initiative to recognise their own weaknesses. Also being able to freely learn will mean that employees will be more encouraged to help themselves. Cost of Training The cost of training needs to be analysed carefully in order to make sure the benefits outweigh the costs. For training to be successful employees need to have gained a lot of relevant knowledge and this will depend on their learning ability and training needs. To plan this properly HSBC design a training and development plan and use it to summarise the required financial support. The training is split into: > Training and Competence > Management Development > Supervision/team leader courses > Professional qualifications > Maintenance of professional knowledge > Learning Centre > Individual training needs - HSBC > Individual training needs - external The finance department will budget a certain amount for training and the training department will have to make sure they stick to it. This means that the training department would have to justify all costs associated with the various training and development methods. They would have to assess how many hours and how many workers the training will use to get a rough idea of the cost. Clearwater Strategy HSBC use a strategy known as "Clearwater". This is a strategy for differentiating the bank from its competitors through the provision of high quality customer service. This would create an environment conducive to increased sales producing income growth and thus increased profitability. ?? ?? ?? ?? Jamie Maunder E4 20 ...read more.

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