The impact of training and development in job satisfaction

Why training?

In the current environment, where businesses are growing more competitive and presenting new challenges to organisations, training and development are crucial. They face a significant problem in sustaining and surviving in such a changing environment. (Batool & Batool ,2012),Organisations must adapt if they want to work on fresh marketing tactics constantly and continue to give your clients the best services possible to hold onto your market share and advance. (Samoan, 2020). And this will not be achievable if the company's staff do not update and sharpen their abilities to keep up with their rivals. Organisations must offer their personnel with the means to advance to gain a competitive advantage and produce the greatest outcomes. (Samoan, 2020). They can do this most effectively by implementing training and development programs, which not only enhance. The employees' abilities, but also improve their output, drive, and sense of fulfilment at work.

• Training

To impact and improve performance and other behaviours through skills, attitudes, new knowledge, and beliefs, training is described as a function that includes all kinds of learning experiences. As a result, training imitates actions designed to have an impact on the ability and motivation of the workforce. Researchers concluded that employee training improves job satisfaction by, for example, enhancing productivity in situations when both employers and employees may contribute to performance through training and benefit from it. According to Batool & Batool (2012), training includes management development, education, conventional training, and vocational training. Training is defined as a learning strategy that provides individuals with an explanation and comprehension of the organisation's performance standards and values.

Employee development will help management organise requirements and needs, as well as increase the market worth of the company. Training is thought to be of added value to both the individuals who will get it and the company as a whole. The training's objective is to achieve the capacity that connects to a group or individual within a company in order to ensure effective performance. Human capital, which includes an employee's experience, talents, knowledge, and skills, is thought to be essential to a company's success. Therefore, it is vitally important to regularly educate the public and expand their knowledge and capacity. through modifying individual behaviour inside an organisation, training aims to raise performance standards and efficiency.

• Development

Managers have a limited amount of control on the actions and activities that make up an organisation's development (Shen, 2005). Development is regarded as a crucial component of human resource management, giving people a great chance to raise their performance standards and define the organization's future course. Employee development aims to achieve both individual and organisational

goals and sets of goals through all activities that have the potential for engagement, growth, and learning. A person's interests, abilities, comprehension, personality, skills, and aptitudes all play a role in the learning process. Individually developed talents and abilities are typically planned for application in the future (Pearson & Brew, 2002). When a manager encourages and directs employee development, the firm will reap numerous advantages. The growth process can be implemented by an organisation through job rotation, promotion, education, job expansion, work experiences, skills, and interpersonal relationships. The way that organizations participate in development activities varies depending on their strategy, environment, and other factors.

LOLC Training Practices

Regular employee engagements differently and as such all training programmes were moved online with encouraging results. The HR department ensured a full calendar of training programmes for all staff cadres and even the Branch Management Development programme was held 100% virtually. The Company is on a business process re-engineering drive and employees were trained on those activities as well apart from technical and soft skills sessions. Meanwhile, the HR team kept updating employees about the pandemic with instructions to stay safe.(Annual Report,2021)

Through a thorough annual exercise to gather information on training needs that is developed while taking into account employee performance and annual business goals for each entity in the group, LOLC Finance has established a training framework that effectively identifies skill/knowledge gaps. To guarantee that personnel are job-ready and that their abilities and knowledge are continually enhanced for superior performance outcomes, training needs are organised into the three pillars of technical/job-related capability development, professional/soft skills development, and leadership development.(Annual Report,2021)

The Group utilised an end-to-end online recruitment on-boarding process in the years 2021–2022. To address personnel issues and grievances being addressed independently, there is also a fully functional grievance management policy in place. (Annual Report,2021)

There are numerous varieties of training programs practices by organisations. Main category is on the job training and off the job training. In this company scenario it has its own developed software. So, it is important to train its staff. The new joined staff are gone through a two-week training program after the induction program. The immediate supervisor will guide them or assign a person to train the fresh staff. The training programs are conducted once in three months’ time. If there any updates or changes in system, the training will be provided until they get used to it. In practice on the job is more suitable for a company like LOLC finance because the system is automated. When working only the staff will produce new doubts. So, I recommend on the job training and job rotation for this company. Nowadays LOLC practising job rotation. Job rotation enable the ability to work in any task and increase the knowledge.(Annual Report,2021)

References

Abeeha Batool & Bariha Batool,(2012). "Effects of employees training on the organisational competitive advantage: Empirical study of Private Sector of Islamabad, Pakistan," Far East Journal of Psychology and Business, Far East Research Centre, vol. 6(5), pages 59-72, January.

Morgot pearson and Angela brew (2002) Research Training and Supervision Development, pp. 135–150.

Shen, H.T. (2005) Research on the Relationship between Corporate Social Responsibility and Corporate Financial Performance. Xiamen University, Xiamen.