Human Resource, Training & Development team - The crucial role in an organization
In this era, many organizations engaged Training and Development Specialist to ensure that this designated personnel is looking after the career progression of each employee.
Many people may not know but the cost of turnover can kill a business and make things less fun in the company. A turnover can cost employers 33 percent of an employee’s annual salary. The culprit? The hiring of a replacement. To put a dollar amount on it, if the employee earned a median salary of $45,000 a year, this would cost the company $15,000 per person — on top of the annual $45,000.
But why does it cost so much to hire a replacement? Simply because,
- Hiring costs, such as fees to recruiters or advertising.
- Interview expenses including travel and the time spent interviewing candidates, pad the costs.
- Post interview costs, like checking references and administering pre-employment tests.
The above mentioned is only part of it and definitely there are more to it like onboarding and training which we will not go into details in this post.
Before we go into why the HR/ T&D role is important in an organization, let's understand why people quit.
Typically, this includes three categories:
- Interpersonal issues.
- Workload problems.
- Lack of recognition.
But of course, it defers from person to person and especially these days, the younger generations are focused on an ever growing career path instead of just stability.
To have an ever growing career journey, Training and Development is a part and parcel of this growth and cycle which cannot be missed out. Thus, that is when a good HR/ Training and Development professional is required!
Why is a HR/ Training and Development Professional plays an important role in the organization?
In an ever changing and fast paced corporate world, Training and Development is an indispensable function.
Training and Development is one of the lowest things on the priority list of most companies. When it's organized, it is often at the persistence of the human resources department. There is, however, enormous value in organizing proper training and development sessions for employees. Training allows employees to acquire new skills, sharpen existing ones, perform better, increase productivity and be better leaders. Since a company is the sum total of what employees achieve individually, organizations should do everything in their power to ensure that employees perform at their peak.
Training and development programs can have a huge impact on a company. Like every other function in your company, training and development should be focused on producing targeted and tangible results for the business. The key is to treat it seriously and consider it a capital investment and make it results-driven.
Thus, question of the day... How do you manage your role as a HR/ T&D professional?
- Proactive and take initiatives to propose relevant courses to ensure that your fellow colleagues are equipped with the required knowledge of the latest industry trends.
- Wait for employees to propose what they think is needed for them.