Future of Employee Training and Development -3 Research Paper

Future of Employee Training and Development -3 - Research Paper Example Several organizations, therefore, use a large percentage of their resources for permanent and continuous employee training and advancement. Organizations that are constantly developing knowledge, extending it to the entire organization, and implementing it inside the new technology develop high quality products and excellent services. These activities portray the company as a learning institution with constant innovation in its business activities. These are organizations that have realized that learning and employee development is a key determinant for their business. The increasing complexity and uncertainty of the business environment requires different and advanced knowledge. Modern business activities require improved skills and knowledge that are still inadequately present in the formal school education. The gap between business requirements and training acquired at school is increasing. Current customers are highly selective, and organizations cannot continue with mass product ion. Increased and sophisticated customer demands require new solutions and knowledge. Organizations have to constantly revise their products and service mix due to increasing competition. Dynamic competition, sophisticated technology, knowledge economy, and globalization have changed the importance of employee training in organizations (Gitman and McDaniel, 2009). Differences between organizations are caused by differences in human capital. This has transformed employee knowledge and development to become the most reliable source of competitive advantage. Other factors of production are still valid, but employee skills are more relevant in the current environment. Employee training and development has become an important aspect for future organizational development. Learning and developmen