Training is important in every organisation, as it aims at building the skills and abilities of the employees to perform their tasks. The following points highlight the importance of training in an organisation:
(i) Less wastage: Training is a concept that involves a systematic learning of a particular job. It is a more efficient way of learning than any trial-and-error method. It helps in reducing wastage of time and money in an organisation, thus ensuring optimum utilisation of resources.
(ii) Higher profits: Training enhances the productivity of employees by making them more efficient. This increase in both qualitative and quantitative productivity boosts the profits of the company.
(iii) Managerial efficiency: Training prepares employees to face new challenges, thus helping them to make effective responses to various business problems. It also equips future managers to take precautionary steps in case of emergency.
(iv) Boost employees morale: Training not only improves the performance, but it also improves the overall attitude of the employees towards job, working conditions and organisation. It helps in reducing absenteeism, labour turnover and grievances among the employees. This increases the morale of the employees.