Business Management U3 AoS2B

• Training is the process of improving an employee's skills and knowledge, so they perform their job more efficiently and effectively
• Benefits of training: Employees

  • Improved abilities
  • Increased job satisfaction + motivation
  • Can take on greater responsibility
  • Improved self-esteem
• Benefits of training: Business

  • Improved productivity
  • Improved quality
  • Greater ability to meet business objectives
  • Reduced staff turnover
  • Develop a learning culture
• On-the-job training (internal)

  • Employee learns at their workplace, often while performing their actual job (e.g fast food)
  • most cost-effective + can work while being trained
  • poor habits can be passed + trainer unable to perform own duties
• Off-the-job training (external)

  • Where employees learn new skills away from the workplace
  • learn from specialists + less interruptions from workplace
  • Often most expensive + loss of working time
• Performance management (or appraisal) is the process used to evaluate and improve individual and business performance by relating business performance objectives to the employees performance objectives
• Management by Objectives (MBO)

  • program where manager and employee collaboratively set clear objectives/goals
  • employees then evaluated against the set objectives + provided clear feedback on their performance
• MBO's

  • employee involvement leads to better productivity and fulfillment of responsibilities + highlight areas where an employee has training needs
  • time-consuming + failure to meet objectives is demoralising