THE FEDERAL POLYTECHNIC NASARAWA

SCHOOL OF BUSINESS STUDIES

DEPARTMENT OF BANKING AND FINANCE

ASSIGNMENT
ON
PRINCIPLE OF MANAGEMENT

TOPIC
TRAINING AND DEVELOPMENT

PRESENTED
BY
GROUP EIGHT (8)
REG NO
3629 3639 3649 3659 3669 3679
3689 3699 3709 3719 3729 3739

SUBMITTED
TO
MR. FEMI

FEBRUARY, 2024

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TRAINING AND DEVELOPMENT

Training and development are integral components of organizational growth and

employee empowerment. Training refers to the systematic process of equipping
individuals with the knowledge, skills, and competencies required to perform their
roles effectively. It involves structured activities such as workshops, seminars, on-
the-job training, and e-learning modules designed to enhance employees'
capabilities and proficiency in their respective fields. Through training,
organizations aim to bridge skill gaps, improve employee performance, and foster
a culture of continuous learning and development.

On the other hand, development encompasses a broader scope aimed at nurturing

employees' potential for future roles and responsibilities within the organization. It
involves long-term initiatives such as mentorship programs, leadership
development courses, and career planning strategies. Development efforts focus on
enhancing employees' overall growth, expanding their skill sets, and preparing
them for advancement opportunities within the organization. By investing in
training and development, organizations not only strengthen their workforce but
also foster employee engagement, retention, and organizational success in the long
run.

DEFINITION OF TRAIINIG

Training refers to the systematic process of imparting knowledge, developing

skills, and fostering competencies among individuals to perform specific tasks or
fulfill job responsibilities effectively within an organizational context. It involves
structured activities, instructional methods, and learning interventions aimed at
equipping individuals with the requisite capabilities to enhance their job
performance, adapt to changes, and contribute to organizational goals. Training can

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take various forms, including classroom sessions, workshops, on-the-job training,
simulations, e-learning modules, and coaching, tailored to address specific learning
needs and objectives. The ultimate goal of training is to facilitate continuous
learning, skill development, and performance improvement among employees,
thereby enhancing organizational effectiveness and achieving strategic objectives.

DEFINITION OF DEVELOPMENT

Development, in the context of human resources and organizational management,

refers to the systematic and intentional process of nurturing individuals' potential,
capabilities, and talents to prepare them for current and future roles within an
organization. Unlike training, which primarily focuses on acquiring specific skills
or knowledge for immediate job tasks, development encompasses a broader scope
aimed at enhancing individuals' overall growth and readiness for higher-level
responsibilities.

IMPORTANCES OF TRAINING AND DEVELOPMENT

Enhanced Employee Performance:

Training equips employees with the necessary knowledge, skills, and competencies
to perform their roles effectively. It helps them understand their job responsibilities
better, improves their efficiency, and enhances their productivity, ultimately
contributing to organizational success.

Improved Employee Morale and Engagement:

Investing in training and development demonstrates an organization's commitment

to its employees' growth and success. Employees who receive adequate training
and development opportunities feel valued and motivated, leading to higher levels
of job satisfaction, morale, and engagement.

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Retention of Talent:

Organizations that prioritize training and development create a positive work

environment where employees feel supported in their professional growth. This
fosters loyalty and commitment among employees, reducing turnover rates and
retaining top talent within the organization.

Adaptation to Change and Innovation:

In today's dynamic business environment, organizations must adapt to

technological advancements, market trends, and industry changes. Training and
development programs help employees stay updated with the latest industry
practices, emerging technologies, and innovative approaches, enabling the
organization to remain competitive and agile.

Succession Planning and Talent Management:

Development initiatives, such as leadership programs and career planning, prepare

employees for future roles and responsibilities within the organization. By
nurturing talent internally, organizations reduce reliance on external recruitment
and ensure a pipeline of skilled professionals to fill key positions, facilitating
smooth succession planning and talent management.

Enhanced Organizational Reputation:

Organizations that invest in employee training and development are perceived as

attractive employers by prospective candidates and stakeholders. A strong
reputation for investing in employee growth and development enhances the
organization's brand image and credibility in the marketplace, attracting top talent
and fostering positive relationships with customers, partners, and investors.

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OBJECTIVES OF TRAINING AND DEVELOPMENT

Enhancing Employee Skills and Knowledge:

One primary objective of training and development is to equip employees with the
necessary skills, knowledge, and competencies to perform their roles effectively.
By providing targeted training programs, organizations ensure that employees have
the capabilities required to meet job demands and contribute to organizational
success.

Improving Employee Performance:

Training and development initiatives are designed to enhance employee

performance levels across different functions and departments. By addressing skill
gaps and providing ongoing learning opportunities, organizations strive to improve
individual and team performance, leading to increased productivity and efficiency.

Facilitating Organizational Change and Adaptation:

In today's rapidly evolving business landscape, organizations must adapt to

technological advancements, market shifts, and changing customer preferences.
Training and development programs help employees acquire new skills, embrace
change, and adapt to evolving organizational needs, enabling the organization to
remain competitive and resilient.

Promoting Employee Engagement and Motivation: Investing in training and

development demonstrates a commitment to employee growth and development,
fostering a culture of continuous learning and improvement. Engaged and
motivated employees are more likely to take ownership of their roles, contribute

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innovative ideas, and actively participate in organizational initiatives, driving
overall performance and success.

Supporting Talent Management and Succession Planning:

Training and development play a crucial role in talent management and succession
planning strategies. By identifying high-potential employees and providing them
with opportunities for growth and advancement, organizations ensure a pipeline of
skilled professionals capable of filling key leadership and strategic roles in the
future.

Enhancing Organizational Effectiveness and Efficiency:

Well-designed training and development programs contribute to improved

organizational effectiveness and efficiency by aligning employee skills and
competencies with organizational objectives and priorities. By investing in
employee development, organizations optimize resource utilization, minimize
errors, and enhance overall operational performance.

Building a Learning Culture:

Training and development initiatives help create a learning culture where

continuous learning and skill development are valued and encouraged at all levels
of the organization. By fostering a supportive learning environment, organizations
empower employees to take ownership of their professional development and
pursue opportunities for growth and advancement.

CONCLUSION

In conclusion, training and development are indispensable elements of

organizational success and employee empowerment. Through systematic training
programs, employees acquire the necessary knowledge and skills to perform their

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roles effectively, contributing to increased productivity and job satisfaction.
Development initiatives, on the other hand, focus on nurturing employees' potential
and preparing them for future leadership roles and responsibilities within the
organization.

By investing in training and development, organizations demonstrate their

commitment to employee growth and professional advancement. This investment
not only enhances employee morale and engagement but also fosters a culture of
continuous learning and innovation. Moreover, training and development
initiatives contribute to talent retention, succession planning, and overall
organizational effectiveness.

In today's dynamic business landscape, where adaptability and agility are

paramount, organizations that prioritize training and development gain a
competitive edge by equipping their workforce with the skills and capabilities
needed to thrive in an ever-changing environment. Ultimately, by investing in their
most valuable asset—their people—organizations lay the foundation for long-term
success and sustainability.

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REFERENCES

Aguinis, Herman; Kraiger, Kurt (January 2009). "Benefits of Training and

Development for Individuals and Teams, Organizations, and
Society". Annual Review of Psychology. 60 (1): 451–
474. doi:10.1146/annurev.psych.60.110707.163505. ISSN 0066-4308. PMID
18976113. S2CID 45609735

Alagaraja, Meera; Dooley, Larry M. (March 2003). "Origins and Historical

Influences on Human Resource Development: A Global
Perspective". Human Resource Development Review. 2 (1): 82–
96. doi:10.1177/1534484303251170. ISSN 1534-4843.

Phillips, Lisa (8 March 2013). "David R. Roediger and Esch Elizabeth. The
Production of Difference. Race and the Management of Labor in US History.
Oxford University Press, Oxford [etc.]2012. x, 286 pp. Ill.
£22.50". International Review of Social History. 58 (1): 129–131.

Bell, Bradford S.; Tannenbaum, Scott I.; Ford, J. Kevin; Noe, Raymond A.;
Kraiger, Kurt (2017). "100 years of training and development research: What
we know and where we should go". Journal of Applied Psychology. 102 (3):
305–323. doi:10.1037/apl0000142