As universally recognized, human capital is one of the most vital assets in an organization for its efficient and effective functioning. As a result, companies are increasingly interested in training & developing these tangible assets to attain competitive advantage and drive company’s value. However, for the development of effective training & development programs & activities, training needs assessment constitute the most essential step, in whose absence training could have disastrous effects.
The importance of training and developed has been recognized & emphasized across nations, industries, and sectors through various initiatives. This is because companies have come to understand that the investment in human capital is the key to the success of company’s economic growth. Moving further, with the support from all the participants in place, a systematic approach to human resource development is pertinent towards the success of human resource development interventions.
The first step towards HRD – human resource development begins with identifying an organization’s business strategy and objectives. Hence, needs assessment and analysis is recognized to investigate the extent to which targeted employees have to be moved forward to attain those objectives and ultimately attain projected growth.
The four subjects that shall be examined include, first, the scope of organizations that have performed HRD needs analysis and the frequencies at which these needs analyses were conducted; secondly, the approaches used in identifying HRD needs; third, the levels in needs analysis and; lastly, the methods used in analyzing HRD needs.
Manufacturing practices deployed at machine tools suppliers and manufactures involve experimenting with complete automation of manufacturing goods being developed, promoted and attempted. One of the most significant training benefits for businesses involved in fasteners and machine tool manufacturers are associated with intermediate level skill. Investment in intermediate level skills delivers bigger benefits, not just internally in terms of job satisfaction, and career opportunities but also in addressing business goals, innovation and responding to market.
Implanting training and development processes in fasteners & tools manufacturing industry is significantly and positively associated with the immediate operation benefits. The workplaces who have benefitted from these initiatives have acquired improved technical skills and attained the ability to develop overall competence and improved product or service quality. Growth capacities and staff retention is also experienced, leading to more organized systems as reflected by the adoption of high performance working practices. A larger impact of training is observed in the areas of productivity, growth capability, technical skills and product quality.