In the dynamic work environment it is important for companies to improve the skill of their manpower. It is critical for employees to learn new things and enhance their skills to meet the work competitions in the business environment. Thus, the training and development programs run by the company is beneficial for both organization and employee.

What is the Need of Training and Development?

• The training and development activity is required when company revises its objectives and goal to adjust the changing market conditions.
• Companies often endorse training and development programs to improve the performance of the employees.
• The HR training and development is needed to set up a benchmark of performance which employees are expected to achieve in a financial year.
• There is always a need of training and development efforts to teach the employee new skills such as team management, communication management and leadership behavior.
• Training and development is also used to test new methods of enhancing organizational productivity.

What is the Importance of Training and Development?

• In Human Resource Management (HRM) Training and development is important aspect when company wants optimum utilization of their manpower.
• Training and development is a key for the succession planning of the organization as it helps in improvement of skills like team management and leadership.
• HR Training and development activities are vital to motivate the employee and to increase their productivity.
• Training and development in HRM is significant aspect to develop a team spirit in the organization.
• Training and development programs are also important from the safety point of view as it teaches employee to perform job properly without any life risk.
• From the organizational point of view the HR training and development programs are important performance management tool to increase profitability and enhance corporate image.

Objective and Purpose of Training & Development

1. One of the most effective methods to show your employees that you value them is to provide them with training. It demonstrates that you care as much about their well-being and development as they do about your company’s. Employees that are well taken care of will never desire to work somewhere else.
2. Training can be used as a preventative measure to prepare people for expected and unforeseen changes and challenges in the workplace. It only makes sense to keep our staff prepared in times like ours, when trends are always changing due to online innovation.
3. There is no better way to produce future leaders than to train the most talented individuals available. Employees will have a clear career path, resulting in lower attrition and discontent.
4. Employees are a significant and most important component of a company’s assets, and caring for them entails caring for the firm as a whole.  Therefore, any business organization that invests their time and money in its employees’ education or Training & development can only succeed in achieving their business goals and advance further.