IMPACT OF TRAINING AND DEVELOPMENT IN A MARKETING COMPANY
Need help with a related project topic or New topic? Send Us Your Topic
DOWNLOAD THE COMPLETE PROJECT MATERIAL
IMPACT OF TRAINING AND DEVELOPMENT IN A MARKETING COMPANY
Chapter one
INTRODUCTION
Background of the study.
To attract and keep the best employees, companies must invest in their development. They must take training and development very seriously.
Human resources are a significant yet costly resource, thus in order to maintain economic and effective performance, it is critical to maximise their contribution to the attainment of the organization’s goals and objectives through training and development.
Training is thus required to provide an appropriate supply of technically and socially competent individuals for both departmental and managerial positions. Mullins (2007).
According to Heathfield (2012), providing the correct staff training, development, and education at the right time has significant benefits for the organisation in terms of increased productivity, knowledge, loyalty, and contribution.
Human resource management is now regarded as a strategic partner to the other functional areas of a corporate organisation, which include marketing, finance, production, purchasing, management information systems, and administration.
The human resource of any organisation is anticipated to create a competitive advantage, as an organization’s success or failure is determined by the quality and orientation of this resource. This is predicated on the idea that a company’s competitive edge comes from its people resources.
Training is a critical component of human resource development (HRD) in human resource management practices. Employees must have the necessary skills, knowledge, values, attitudes, and competences to perform their jobs effectively and efficiently, as well as an understanding of their organization’s culture.
Employees must be trained and developed while on the job in order to gain competencies that they did not have at the time of appointment. This is why an organisation may require a training and development department
commonly known as Human Resource Development (HRD). When qualified job candidates are found and appointed, they must be given proper orientation, as well as training and development to satisfy the organization’s career needs.
Global competitiveness has compelled organisations to examine every area of their operations, wondering how each function and procedure may contribute to strategic objectives. Training departments are similarly under pressure to justify their organisational value in similar terms.
According to Steed (2000), this is because organisations invest a significant amount of time, effort, and money in staff training, yet the rewards of these efforts are not immediately obvious in terms of enhanced performance.
To make training and development useful, it must be adequately planned and systematically implemented. Rao & Nair (1990). The capacity of a firm’s staff determines its ability to meet desired targets, especially in performance-driven organisations.
Human resources are recognised as an important resource for success. To sustain organisational effectiveness, it is critical to maximise employees’ contributions to achieving the organization’s aims and goals (Armstrong, 1999).
Training and development services assist businesses in developing a staff that possesses the necessary knowledge and skills to achieve their business objectives. A marketing programme is required to raise awareness of the benefits of training and increase participation.
However, a 2008 survey conducted by training supplier Expertus discovered that only 15% of internal training departments had a structured training plan, while 62% had no training budget (https://smallbusiness.chron.com).
Every organisation, regardless of size, needs specific goals in order to grow. These well-planned goals will assist the company in maintaining its position in an ever-increasing competitive industry while also increasing sales. Marketing strategy is simply the framework for defining your objectives and directing your efforts in the appropriate way.
A well-defined strategy should assist you not only achieve your goals, but also meet the aims and expectations of your customers. Marketing typically includes certain default points for its establishment.
The most essential of these are the organization’s immediate and long-term goals. This is followed by an analysis of the market into which the organisation intends to expand its operations.
Targeting the right customers and broadening the client base are critical in the service industry. In addition, conducting a SWOT (strengths, weaknesses, opportunities, and threats) study of given services or sold products will assist the organisation in analysing itself.
A successful marketing plan generates a win-win situation for both the customer and the organisation. Needless to mention, customer happiness will boost the organization’s brand value and provide an advantage over competitors.
It aids in the development of a realistic strategy that outlines the strategies for achieving the stated objectives. Once the strategy and plans are ready, the organisation can look for ways to implement the plans, making the process more efficient (http://www.iosrjournals.org).
Need help with a related project topic or New topic? Send Us Your Topic