“Importance of Training”
Training is vital for an organization in today’s competitive business environment.
It is said training makes a ready man or hand and it is so true.
Training plays an important part in developing human resources into human capital. It assists in transforming an ordinary hand into a skilled worker. Employees should take training seriously.
Training includes various areas namely technical training, vocational training or professional training etc. It enhances the competence of an employee.
Without imparting training to its workforce, a business may find it difficult to compete with its peer group in the market who may be well ahead in this regard.
Training may come in the form of internal training and external training.
Almost all reputed business houses, small or big, inevitably have in-house training departments run and managed by qualified, experienced and professionally trained personnels.
There is an obvious advantage in having in-house training facilities in that it is relatively inexpensive compared with external training programs.
There are many organizations who spend a good deal of money on training programs.
Time and money spent on training should not be seen as a waste. It is a worthwhile investment which is sure to yield results for the company in the long run in terms of more business, retention of existing customers etc.
In order to survive and flourish in today’s competitive market, training is a must for an organization.
An organization with trained and skilled workforce can have an edge over others lacking in this regard.
Then there are external training programs. Because it is relatively expensive compared with in-house training programs, a company usually sends selected staff members or higher officials for external training.
There are professional training institutions in every country who offer their services for a fee.
Training abroad may be an expensive affair and is usually limited to higher management only.
Large companies around the world spend a big chunk of money every year for developing their employees through training programs.
All said and done, it is important for the top management to show serious commitment in this regard.
Top management should take initiative and encourage their staff to participate in company’s training programs for their own good and for the good of the company.
They should provide all facilities including finance and supervise and monitor its progress on a regular business.
Without the blessings of top management, a training program is bound to be a failure or unsuccessful.
It should be remembered that an organization is only as good as its trained and skilled workforce who can make a difference in the way a business is run on a traditional line.
Given the importance of training, it should be made compulsory in every organisation. Management should be willing to spend adequate money for training purposes as may be necessary and not show a miserly attitude.
The value of training should not be underestimated for there is no substitute for proper training.
Mr. Haque was brought up and educated in Dhaka. He obtained his master’s degree with honours in Biochemistry from University of Dhaka (DU). He spent nearly four decades in Dubai (UAE) working for several multinational insurance companies in various capacities. He obtained his Fellowship (FCII) from The Chartered Insurance Institute (CII), London, Associateship (AIRM) from The Institute of Risk Management (IRM), London, Associateship (ACIArb) from The Chartered Institute of Arbitrators (CIArb), London. He has authored several books on insurance which have been acclaimed both at home and abroad. He contributes regularly on insurance matters in various online insurance news portals and is a founder General Secretary of Bangladesh Insurance Professionals Society (BIPS).