Company-paid employee training is an established corporate policy. No matter how highly skilled, competent, or experienced an employee may be, room for improvement always exists, and the company specific job description invariably includes work components unfamiliar to the employee.
The emergence of technology-centric knowledge organizations has raised the importance of human resources. The quality of the human resources of an enterprise becomes the critical distinguishing factor among firms, and as such, firms compete with others to attract and retain talent.
Companies invested in the training of their employees even before the newfound importance of human resources. In the new context, this intervention has assumed even more importance. Company-based employee training is now an indispensable tool for organizations wanting to develop leaders for the next level of growth.
Company-paid employee training offers many advantages for both the organization and the employee.
For the employee, company funded education and training ranks among the most valuable long-term benefit offered to employees. It enables the employee to further their education, develop skills, and enhance competencies, invariably translating to all-round development of the individual and better performance at work, which in turn translates to career advancement. All this comes at no additional cost from the employee’s side.
Companies usually sponsor training programs most suited to their needs, and this ensures that their employees obtain specific knowledge or skills required to excel in their jobs. Employees training themselves tend to focus on generic skills that may not be relevant for the company-specific work.