Getting
at the Truth About Training
Good morning, I would like to take ten minutes
of your time to discuss an asset area potentially more valuable than the
equipment and financial inventory that you and many other businesses depend on
daily. The asset is human capital, the lack of which, if not managed properly,
could ground your business to a halt.
Human
capital is more difficult to tie to Return on Investment (ROI) than finances
and equipment and includes tacit knowledge, such as innovation, leadership,
body language, and intuition; formal and informal education, especially
informal education exchanged among employees; work-related know-how, and
work-related competence possessed by high performance employees, which, by the
way, leaves with them when they leave (Noe, 2013).
Our
discussion of how a specially designed training program can contribute
substantially to your company’s value and competitiveness can, if you wish, go
beyond these intangible assets and include the positive effects of training on
financial and physical assets and at the same time, support your organization’s
overall strategy (Noe, 2013).
Please listen to an audio version of this post by clicking the link below which will take you to my Dropbox website. Then click on the same entry title in Dropbox to listen to the audio file.
Win
The Truth About TrainingWin
Reference
Noe, R. A. (2013). Employee training and development (6th ed.). New York, NY: McGraw Hill.
Noe, R. A. (2013). Employee training and development (6th ed.). New York, NY: McGraw Hill.
Do you feel that most organizations understand the true value of human capital? I feel that it is an asset that could easily be overlooked and underappreciated. However, looking at companies and organizations that have truely excelled, you can see how training and investment into their employees has played a significant role in their success.
ReplyDeleteWin,
ReplyDelete-- I like that you started the presentation by asking for 10 minutes of their time; it would have been an effective close to ask again to schedule the 10 minutes.
-- I also like the fact that you placed the emphasis on human capital and it’s value in assuring the success of the company.
-- You did a good job identifying the importance of formal and informal training to company success.
-- Your comment about the competencies of high performing staff leaving with the employee is very important. If you worked for the company this would be a place you could actually add some statistics.
-- I like the fact that you also emphasized how effective training goes beyond improving intangible assets to support the company’s organizational strategies and financial success.