Does Entrepreneurship Lead to Income Inequality as well as Higher Economic Growth?
Theoretical Perspectives on Entrepreneurship, Income Inequality and Economic Growth It is a known fact that Entrepreneurs garner the Lion’s share of the profits that their firms and ventures as well as start-ups earn. Indeed, this is something that both Marxists and Capitalists acknowledge. While Marx lamented that Capitalism leads to more income equality since the […]
Employee Development Plan
Employee Development refers to steps taken by an organization to enhance the skills of an employee and motivate him/her to acquire new knowledge and leanings. Employee development activities upgrade an individual’s existing knowledge, sharpen his/her skills and also prepare him/her to take up new opportunities in the future. As a result of trainings and employee […]
Performance Management in Successful Companies: Lessons from Cutting Edge Research
Introduction Continuing with our series of articles on HRM practices in successful companies, this article examines the performance management practices of those companies that have managed to be in the FORTUNE “100 Most Admired Places to Work in” consistently. To put it in perspective, just twenty odd companies have remained in this list throughout the […]
Benefits of Participative Management
Participative management as a decision making style is not welcome by one and all! Labor or trade unions, for example do not approve of this. They argue that it is in fact disadvantageous to welfare of the workers because the participative processes give deep insights to the management, which in turn puts the latter in […]
Relationship Building at Workplace – An Overview
Let me first ask you all a question. Where do individuals spend the major part of their day? Yes, it is their respective organizations – a place where people work to earn their bread and butter. Do you think you can afford to have enemies at a place where you spend eight to nine hours […]
Individuals in an organization form its vital resource and must be valued, nurtured and retained. Employees are the most valuable assets and truly the backbone of an organization. Every employee in his/her own way contributes towards the success or failure of an organization. Without employees in an organization, even the most powerful machinery with the latest technology would not function.
Employees should not treat their organization as a mere source of earning money. Remember, your job is not just to come in the morning, leave in the evening and receive your paycheck. On the other hand employers should not treat their employees as slaves. Employers must invest their time and resources in training and developing their workforce for them to become indispensable resources later on. Employees should be developed and prepared to face even the worst situations.
Employee development is a joint initiative of the employee as well as the employer to upgrade the existing skills and knowledge of an individual. It is of utmost importance for employees to keep themselves abreast with the latest developments in the industry to survive the fierce competition. Believe me, if you are not aware of what is happening around you, even before you realize you would be out of the game.
As they say there is really no age limit for education. Upgrading knowledge is essential to live with the changes of time. Employee development goes a long way in training, sharpening the skills of an employee and upgrading his/her existing knowledge and abilities. In a layman’s language, employee development helps in developing and nurturing employees for them to become reliable resources and eventually benefit the organization. Employees also develop a sense of attachment towards the organization as a result of employee development activities.
Organizations must encourage their employees to participate in employee development activities. Employees also must take skill enhancement or employee development activities seriously. Do not attend trainings or other employee development activities just because your Boss has asked you to do so. Don’t just attend trainings to mark your attendance. You just cannot use same ideas or concepts everywhere.
It is excellent if you know Microsoft Excel or for that matter Microsoft Word. Remember simply knowing few basic functions of MS excel would not help you in the long run. It might help you in the short run. Excel is not just to store your required data. There are many other formulae and advanced applications which one should be aware of.
Enhance your skills with time. Employee development can also be defined as a process where the employee with the support of his/her employer undergoes various training programs to enhance his/her skills and acquire new knowledge and learnings. Every organization follows certain processes which not only help in the professional but also personal growth of an employee. Employee development activities help an employee to work hard and produce quality work.
Professional Growth
Employee development activities must be defined keeping in mind an employee’s current stage and desired stage. Knowing an employee’s current and desired stage helps you find the gaps and in which all genres he/she needs to be trained on. Human resource professionals must encourage employees to participate in internal or external trainings, get enrolled in online courses to increase their professional knowledge and contribute effectively.
Personal Growth
Employees start taking their work as a burden only when an organization does not provide any added benefits or advantages which would help in their personal growth.
Soft skills classes, fitness sessions, loans with lower interest rates are certain initiatives which not only motivate an employee to do quality work but also help in employee development.
Employee development not only helps in enhancing knowledge of employees but also increases the productivity of organizations. Employees, as a result of employee development activities are better trained and equipped and work harder to yield higher profits.
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