Benefits to the Organisation
The benefits of training and development to an organisation are as follows:
(i) Training is a systematic learning, always better than, hit and trial methods, which lead to wastage of efforts and money.
(ii) It enhances employee productivity both in terms of quantity and quality and leading to higher profits. (iii) Training equips the future manager, who can takeover in case of emergency.
(iv) Training increases employee morale, reduces absenteeism and employee turnover.
(v) It helps in obtaining effective response to fast changing environment.
Benefits to the Employee
The benefits of training and development activity to the employees are as follows:
(i) Improved skills and knowledge due to training leads to better career of the individual.
(ii) Increased performance by the individual helps him to earn more.
(iii) Training makes the employee more efficient to
handle machines, thus, less prone to accidents.
(iv) Training increases the satisfaction and morale of employees.