Training and development is simply defined as ‘the formal, ongoing efforts that are made within an organization to improve the performance of its employees’. Training and development can also be described as ‘an educational process which involves the sharpening of skills, concepts, changing of attitude and gaining more knowledge to enhance the performance of employees. While new methods are under continuous development, several common training methods have proved to be highly effective. Some notable examples include orientations, class room lectures, case studies, role playing, simulations and computer based training. Training and development programs may be focused on individual performance or team performance. In order to maximize the effectiveness of training and development program, organizations must constantly assess and identify their employees’ current training and development needs to prepare them for their next positions to achieve higher growth. Organizations have to recognize that different employees will have different needs and these needs will change over the time as these workers continue in their careers. When the organization invests in improving the knowledge and skills of its employees, the investment is returned in the form of more productive and effective employees. In nutshell Training is crucial for organizational development and its success which is indeed fruitful to both employers and employees of an organization. Here are some important benefits of training and development.

Increased productivity: Training and development directly improves efficiency and productivity of employees. Employees remain up to date with new technology and thus use existing ones in a better way. Well trained employees show both quantity and quality performance. There is less wastage of time, money and resources when employees are properly trained.

Less supervision: Training improves necessary skill sets in employees and empowers them to address tasks independently. In other words a well trained employee will be well acquainted with the job and hence they need less of supervision.

Reduction of errors & accidents: Most of the errors occur because of many employees lack the desired knowledge and precise skills required for doing a particular job. Continuous Training and development ensures that employees get the right skills at right time .The more trained an employee is, the less are the chances of committing errors in job. 

Talent pool: Creating a pool of cross-trained employees helps to bridge gaps when someone unexpectedly leaves the company - or if they accept a transfer or a promotion. Employees can be trained on a minor additional skill in sales, customer service, administration and operations. Cross-training also fosters team spirit, as employees appreciate the challenges faced by co-workers.

Uncover employee potential: Most of the companies overlook the hidden talent of their employees, Training and development provides a catalytic platform for employees to share their ideas with management. It has been proved that some employees might be yearning for a leadership role within the business, but because there is no leadership development program in place, these individuals don’t get the chance to prove their ability or further develop these hidden skills. Allowing employees to attend these programs helps to spot the leaders of tomorrow within current work force.

Job satisfaction: Training and development makes the employees feel more satisfied with the role they play in the company or organization. This is driven by the great ability they gain to execute their duties. They feel they belong to the company or the organization that they work for and the only way to reward it is giving the best services they can.

Reduction of turnover and absenteeism: Employee turnaround costs time and money. Training creates a feeling of confidence in the minds of the employees. It gives them a security at the workplace. As a result, labor turnover and absenteeism rates are reduced. 

Address employee weaknesses:  Most of the employees have certain weaknesses in their workplace, which hinder them from giving the best outputs. Training assists in eliminating these weaknesses, by strengthening workers skills and dissolving inner barriers. A well-organized development program helps employees gain analogous skills and knowledge, thus bringing them all to an advanced uniform level. This simply means that the whole workforce is reliable, so the company or organization doesn’t have to rely only on specific employees.

Increased consistency: A well-organized training and development program gives employees constant knowledge and experience. Access to regular training ensures that all employees have a consistent experience and consistent knowledge of tasks and procedures, something which is particularly important when it comes to basic company policies and procedures. Ensuring that all employees have consistent knowledge also helps to ensure that tasks are completed on time and without issues, and there are no questions to be asked about how things should be done. Safety, discrimination and administrative chores should be crucial tasks which require training. This mostly includes administrative procedures and ethics during execution of duty.

Reduction in learning time: Systematic training through trained instructors is essential to reduce the training period. If the employees learn through trial and error, they will take a longer time and even may not be able to learn right methods of doing work. Here training takes care of all these things in a compact manner and reduces the time frame of self-learning significantly. 

Team spirit: Training and Development helps in instilling the sense of team work, team spirit, and inter-team collaborations. It helps in inculcating the zeal to learn within the employees.

Skills Development: Training and development helps in increasing the job knowledge and skills of employees at each level. It helps to expand the horizons of human intellect and an overall personality of the employees.

Optimum resource utilization: Training and Development significantly helps to provide an opportunity and broad structure for the development of human resources' technical and behavioral skills in an organization which ultimately results in optimum resource utilization, moreover it also helps the employees in attaining personal growth.

In addition to above scenarios training and development leads to improved profitability and more positive attitudes towards profit orientation, it also aids in organizational development i.e. organization gets more effective decision making and problem solving. Training and development helps in understanding and carrying out organizational policies thereby developing leadership skills, motivation, loyalty, better attitudes, and other aspects that successful employees and managers usually display. Training and development demonstrates a commitment to keeping employees on the cutting edge of knowledge and practice.