Financial Implications Of HR Policies: Assessing The Value Of Employee Training And Development Programs

Abstract

It is centered on the costs and benefits of “the training programs implemented” by the IT companies of India in the last ten years. A cross-sectional study of 200 full-time workers is at the center of the study and they had participated in at least one of the formal work-related programs during the last two years. Information was collected by an online questionnaire which was closed ended and open ended, and included demographic items, training attended, skills obtained, task efficiency and satisfaction at the training. Besides the studied issue of budgeting and costs related to training programs were considered too. However, most subjects were male youths older than 20 years, and they had both up to 5 years of study and up to 10 years of job experience. The results of the training module evaluation revealed that for 40% of them, they responded to two different trainings that each lasted for eight hours. There were a total of 70% of the employees self-proclaimed to take part in training programs; their satisfaction level was 100%. The CAST study specifically relied on the statistical methods to process the quantitative information, whereas qualitative data processing (i.e survey responses) was thematically analyzed. In fact, 80% of staff were pleased with the training programs and had been to at least two training events. Though the asynchronous learning was said to be effective by 70% of the respondents, 30% of them however indicated that they would have preferred a face to face intensive multi-day training spaced over time. As long as these figures were the same and they consisted of 70% of employees, this rate of turnover could put staff retention and loyalty at risk. In general, the organization demonstrated a great need for the training of their staff, and this addition of relevant and appropriate training could radically improve the capabilities of the human resources to the main management’s benefits. The study design was supported by an ethics committee in the area and adhered to the main ethical guidelines.