Employees' Training and Development Contribution to the Company Performance and Competitiveness

Abstract

The main objective of this paper was to explore the contribution of employee training and development in relation to company's performance and competitiveness. As a result, this study reviewed documents and literature materials from online publications, academic domains, and books from the library to reach the goals. The obtained information was reviewed with the intention of understanding the contribution of employees' training and development to company performance and competitiveness. The findings indicate that, employees' training and development, equip the workforce with the new skills, including techniques to help them: (1) improve the quality of products and services, (2) correct weaknesses in operations, (3) reduces supervision costs, (4) increase the company's profitability and competitive advantages, (5) and ultimately, increase employees' retention. The findings also show that the quality of both machines and materials to use during the process of production remains another factor contributing to company's performance and competitiveness. The study recommends employees' training and development to be included in the organizational budget. Meanwhile, organizations conduct continuous assessment to identify the extent to which a company needs employees' training and development. Finally, the study suggests that companies employ quality machines/tools and materials for production to ensure improved performance and competitive advantage.