Question

‘’Training is expensive but its absence is more so.’’ Explain the statement ​

Answer 1

Explanation:

Training is an integral part of any organization; it equips the employees with skills required to perform the job. Every organization invests in training their employees that are responsible for giving results. Most organizations/businesses consider training as an expense when it is actually an investment.

There are numerous reasons to invest in training, like; improved quality or in other words reduction in errors or defects, enhanced productivity, increased motivation, helps in retaining the talent pool, capacity building, groom the leaders, etc. Training helps in building capacity within an organization, and investing in people is vital as this is the workforce which can bring excellent profits to your business.

In the times of economic crisis, organization often control its budget by cutting down on non-core or non-billable activities, and unfortunately training is one of such activities – if not cancelled completely. However, training can help both employees and organizations in such challenging situations. With the advancement of technology and globalization, there are various methods to reduce the cost of training whilst maintain its effectiveness. Virtual classes, use of instructional system designs, video conferencing and other technological improvements have helped revamp the training making it cost effective. In this era of globalization, where organizations are spread across the globe, such advancement in training delivery techniques are highly cost effective and have reduced the need of face to face training.

Training should be designed to focus on immediate business need and to cater the various talent pool bespoke training or curriculum is the preferred way of keeping at pace with the organizational changes and needs. Training should be pragmatic in approach and directly applicable to day to day activities which will help organizations to measure ROI. An efficiently trained staff with improved skill set will have high productivity and quality, efficient at their job whilst feeling recognized and valued by management.

As leaders and managers, you are responsible for the success of your organization, and developing your people to increases your chance of success. For any organization, people are one of the biggest investment and they should not be left to rust.

Answer 2

The statement says that training is an important aspect of management.

Training the employees involves shaping the employees to improve their thinking and to have quality performance. It can be expensive by costs but not training the employees could be costlier.

An absence of training as a function of management could cause huge losses as the employees wouldn't know their job or role perfectly.

Importance of training-

• Training is crucial for the success of an organization. Training could make the employee efficient and more productive.
• A well-trained employee would show both quality and quantity performance.
• There are fewer errors and mistakes when the employee is already trained for the work.
• The employee feels confident and ready after he's been trained.

Thus, all these points prove that training can be expensive but not training the employees could be more expensive.

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