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Training and development for manager in multinational company how that will effact on financial dicion - Essay Example

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1. Introduction Changes in the global business environment involve not only changes in the character of organizations in the contemporary period, but it also involves changes in the vital role and status of workers in the firm (Mosier, 1986; Swanson & Sleezer, 1989)…
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Training and development for manager in multinational company how that will effact on financial dicion
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Download file to see previous pages In this context, corporation invests on the training and development of workers and managers. However, when organizations undertake investments, it is with the idea that there will be a positive return of investments (Kahnemann & Riepe, 1998). As such, training is tied up with the financial and profit making-goals of the organization, thus, requiring a strong foundation for the decision to invest in the training and development programs of workers and managers. In this regard, training and development are evaluated in terms of costs and benefits that will accrue to the organization because of the investment. However, as training and development are investments of the organization necessary for its survival, the need to understand the relationship and interaction of the training programs vis-a-vis its financial repercussions for the company become essential not only for the development of training programs, but also on the financial decision-making necessary for the implementation of the training. 2. Literature Review As the need for more experienced managers in all the departments of the firm increases, significant monetary investments are incurred by the organization in terms of recruitment, selection and training (Mosier, 1986). This fact highlights two critical elements required in understanding the contemporary condition of workers and managers. First, in the real world, the truism that all systems are improvable (Drury, 2005). Second, it is the reality that things changes overtime. As such, there is a need to respond to the demands made by changes (Drury, 2005). In this view, training and development programs for managers become not only as a tool for the economic survival of the company but also a necessity in itself in order to handle the demands of the global market (Ramirez et al., 2007). 2.1 The Current Context Training and development of workers and managers contribute to the productivity and profitability of the organization (Mosier, 1986; Swanson & Sleezer, 1998). However, training programs entail costs. In this regard, there is a need to come up with a positive framework that will enable decision-makers in coming up with valid reasons for the implementation of the training programs (Heckmann, 2000). This scenario presents the fact that training programs are not arbitrarily taken by the organization, but are pursued due to the following reasons. First, managers that are more skilled are more economically efficient (Heckmann, 2000). Second, experienced managers are more motivated and engaged in creating a workplace environment that will promote learning and development for the employees (Nahrgang, Morgeson & Hofmann, 2011). This is important since through the leadership of the skilled managers; the workers align their goals and objectives with the goals and objectives of the company, thus, enabling growth for both the employees and the company (Wolfgang & Brewster, 2005). Third, training and development of managers are key facets of contemporary organizations (Swanson & Sleezer, 1998). Fourth, managers that are more skilled are more focused in performing their tasks and are not affected by irrelevant factors such as gender, physical appearance and age in the accomplishment of the function (Weiss & Shanteau, 2003). Finally, fifth, the productivity of more skilled workers and ...Download file to see next pagesRead More
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