Introduction
Human resource development is regarded as one of the key aspects of keeping the employees qualified. In fact, the topic is extensively regarded in various business media, and the helpful strategies that are highlighted in media are closely linked with improving communication strategies between management and employees. The aim of this paper is to analyze the offered patterns of employee development and regard the most interesting strategies offered in business media.
Employee Development
Independently of the ways and strategies of employee development, HR managers should consider that any changes in the communication process require time to have an effect independently on the development strategy, whether it is coaching, fine/bonus motivation system, or participation in the decision-making process. (Backaler, 2010)
Coaching techniques, decision-making, cooperation between departments may be successful only if there are no barriers in the communication process. (The Staff of the Corporate Executive Board, 2010). Ryan (2010) points out the significant role of feedback. It is suggested that the development strategy may be divided into three steps:
- Employee’s realization of the importance of feedback
- The motivation of the team by employers (both intrinsic and extrinsic)
- Structuring of the feedback by the management (Gallo, 2010)
Companies that resort to Employee Development
The American Society for Training and Development (ASTD) reports that the number of companies that spend more than $ 2000 per employee is steadily growing, hence, the overall percentage of these companies is 7%. However, there are up to 80% of companies spend less than $ 1000 per employee. The companies that are most featured by the employee development process are generally the companies with high turnover or the companies that value the efforts of their employees most. Some regional departments of McDonald’s reach the turnover rates of 200%, hence, HRM principles involve quick and effective training means. (Wakeman, 2010) Triage Consulting Group as well as Kyphon Inc is featured with a low turnover rate, and the experienced workers are highly valued by these companies. (Banks, 2010) Hence, the development principles are regarded as the key aspect of maintaining the steady development rates of any company. (Grossman, 2010) These companies aim to resort to the global experience of coaching and employee training, and in comparison, with the other companies, they provide a definite development strategy based on coaching and training techniques. (Frankovelgia, 2010)
Articles
The key aspects of employee development are defined in Kornacki (2010). It is stated that the most effective employee development strategy is closely associated with matters of human well-being and health. If the company wishes to improve its performance by training employees, their mental and physical health should be extensively cared for, as it is impossible to motivate workers that are mentally exhausted by training and working objectives.
Peters (2010) emphasizes that some companies arrange financial training activities. On the one hand, their employees learn to manage their own financial resources, on the other hand, they have an opportunity to apply this knowledge in their everyday work. However, the effectiveness of such employee development has not been confirmed yet, hence, the actual importance of training varies from company to company.
Conclusion
Employee development is often regarded as the key aspect of successful HRM strategy, however, few companies resort to effective implementation of these techniques. The most featured companies are interested in quick and effective training of their workers and resort to the global business experience.
Reference List
Backaler, J (2010), “3 Tips to Keep Your Top Chinese Talent”, Forbes. Web.
Banks, B (2010), “How Companies Can Develop Critical Thinkers and Creative Leaders”, Harvard Business Review.
Frankovelgia, C (2010), “The Key to Effective Coaching”, Forbes.
Gallo, G. (2010) Improve Your Employee Training Sessions. Bloomberg exchange. Business Week.Web.
Grossman, R.J. (2010) Developing talent: two companies tackle vital employee development in very different ways that suit their business needs. Business Publications. Web.
Kornacki, M. (2010) New award recognises organisations that invest in employee wellbeing. Training Journal. Web.
Peters, L. (2010) The ROI of investing in financial education. Training Journal. Web.
Ryan, J. R., (2010), “Keeping Employees Happy in a Post-Recession World”, Business Week. Web.
The Staff of the Corporate Executive Board (2010) The Role of Employee Engagement in the Return to Growth. Business Week. Web.
Wakeman, C (2010), “The New Formula for Employee Performance”, Forbes. Web.