An important field in business management that focuses on improving employee skills, knowledge, and capabilities to contribute positively to the organization's success
Covers areas such as training and development, career development, and organizational development
A vital component of Human Resource Management (HRM), strategically aligning the development of individuals with the goals and objectives of the business
The goal of HRD is not individual advancement but alignment with organizational goals, creating a win-win situation for both the employee and organization
Helps organization avoid mistake of sending all employees into training when some do not need it
Helps managers determine what employees are able to do when they enter training so programs can be designed to emphasize the areas in which they are deficient
Individuals who are conscientious, goal-oriented, self-disciplined, and persevering are more likely to make a link between effort they put into training and higher performance on the job
On the job methods (Job Rotation, Coaching, Job instruction, Training through step by step, Committee Assignments, Internship Training)
Off the Job Methods (Vestibule training, Role Playing, Lecture Methods, Conference or Discussion, Programmed instruction, Audio Visual Methods, Computer Based training, LMS)
A company that facilitates the learning of its members and continuously transforms itself. Enables them to remain competitive in the business environment.
The process of capturing, developing, sharing, and effectively using organizational knowledge. A multi-disciplined approach to achieving organisational objectives by making the best use of knowledge.
The focus on the approaches to HRD has moved on from learning organisation to knowledge management. This shift has been attributed to moves in developed economies away from low tech, labour intensive industries reliant on relatively low skill base to high-tech industries reliant on knowledge workers.
Because knowledge workers are in relatively short supply they have become identified as the key source of sustainable competitive advantages consistent with the idea of core competencies and the resources based view of the firm.
In the knowledge economy, added value is achieved through developing and utilising existing and new knowledge to enhances organisation efficiency, effectiveness and innovation.
Where intangible, knowledge based assets become the most important currency in knowledge economy there is a premium on developing HRD processes strategically to capitalise on these assets.
The means of capturing, storing, retrieving and disseminating information (information system perspective)
The development of a learning culture as a facilitator of knowledge management (learning is a subset of knowledge management)
The strategic perspective with emphasis on intellectual capital (a firm's competitive advantage depends more than anything on its knowledge, or, to be slightly more specific , on what it knows, and how fast it can know something new)
Knowledge, skills, experiences and competencies embodied in the workforce that, as an intangible asset, has value to the organisation. Acquired through life long learning and organisations HRD practices.
The interpersonal glue that facilitate the intra and inter-group cooperation's and comprises such things as social networks, and shared values, norms and understanding.
Social capital is the process that facilitates the translation of human capital into intellectual capital through a powerful conduit for learning and generator of unique and valuable knowledge.