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What is Training Investments

Chapter 30
Handbook of Research on Strategies and Interventions to Mitigate COVID-19 Impact on SMEs
The amount of money and resources spent by the organization on training programs, training infrastructure and other allied items related to employee training.
Published in Chapter:
Training as a Strategic HRM Tool to Foster Employee Development in SMEs
Ramnath Dixit (Symbiosis International University (Deemed), Pune, India) and Vinita Sinha (Symbiosis Centre for Management and Human Resource Development, Symbiosis International University (Deemed), Pune, India)
Copyright: © 2021 |Pages: 20
DOI: 10.4018/978-1-7998-7436-2.ch030
Abstract
This chapter aims to highlight the relevance of training and development for employees in SME organizations, and how it can positively impact workplace performance and ensure survival of the organization in the current competitive environment. Over the past few decades, small and medium enterprises (SMEs) have witnessed a paradigm shift in their approach towards human resource management (HRM). With the objective of being globally competitive and to retain talented workforce, the SME sector has been focusing on training their personnel on diverse areas. It is in this context that training and development has emerged as a strategic HRM tool for organizations to foster their employee development initiatives. The chapter concludes with insightful recommendations to strengthen human capital in SME organizations by harnessing training interventions effectively.
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