NECESSITY OF TRAINING AND DEVELOPMENT IN ANY ORGANIZATION INTRODUCTION As organizations try to survive in the turbulent dynamic market, strong emphasis must be laid on human capital in order to be competitive and financially solvent. However, there are other factors that affect organizations’ success; organizations must possess productive (i.e. effective and efficient) employees. In addition, organizations differentiating on the basis of human capital due to its intangible characteristics such as knowledge, skills, and motivation of the workforce increasingly see it as invaluable in order to remain sustainable in the market. Thus organizations should have employees that have the capability of adjusting to a swift dynamic business environment ( Annual Report 2017 Seylan Bank PLC ). Seylan Bank PLC, (2017) in spend more than Rs. 6 Million and 369 training program and 78,610 hours and it cost the profit per employee was Rs. 1.38 Million annually on empl...
NUMBER AND DURATION OF TRAINING PROGRAMS (Source: Annual Report 2017, Seylan Bank PLC ). (Source: Annual Report 2017, Seylan Bank PLC ). (Source: Annual Report 2017, Seylan Bank PLC ). Employees are able to balance their work life and personal life in a better manner which leads to a reduction of stress. 1. Employees are able to balance their work life and personal life in a better manner which leads to a reduction of stress. 2. Such programs help in improving the physical and psychological health of the employee, thereby bringing down the absenteeism rate. 3. These programs develop employee morale, increase the productivity, job satisfaction and commitment of the employee towards the organizational goals. 4. These programs also aim at the progress of the individuals in their personal and professional lives. 5. They improve the communication between all lev...