The growth of competition in every sector is the primary reason that the management of different resources have posed to be a vital aspect.The concept of human resource management is one the integral aspects that contributes to the performance of the business organization. The human resource management system has been identified as the most effective way of managing the performances of the employees (Aguinis, 2010). The objectives and goals differ owing to the nature and type of business organizations. Proficient management of the human resource is one of the primary methods, with the help of which the business can meet the set objectives and goals. Therefore, depending on the operational sectors of business and its nature, the managers follow the human resource management practices.
In the process of managing the human resource, there are number of methods and strategies followed by increasing the performance of the human resource or employees. Among all the strategies, the training and development of the employees is identified as the primary approach. Therefore, this paper deals with the assessment of importance of effective human resource management and training and development. Further, the different human resource theories would be discussed along with highlighting the competitiveness of the different approaches to HRM and training followed by nations.
On the whole, this has been proved again that training and development of the employees are essential for the effective human resource management practices. The advantages of the employee training and development can be realized by the business organizations along with the sector and the economy in the manifold (Gatewood & Feild, 2010). This can be concluded that in the developed economies like US, UK, and Japan or in emerging economies, development of the skill of the workforce is indispensable. In order to compete with each other on the global platform, improvement of the workforce and their performance get reflected from the achievements of the overall economy.
Therefore, investing in the training and development of the employees is important for the management of the business organizations. However, this is also essential for the management or leaders to identify the need and area of improvement in the organizations before implementing any training and development programs. The planned and the organized approach to employee training and development is always essential for gaining long-term competitiveness by the leading economies of the world.