differences between Industrial organisation approach and resource-based approach to competitive strategy

Topics: Skill, Employment, Better Pages: 2 (407 words) Published: February 27, 2014
Good for your workers
Training has many benefits for your staff 
They acquire new skills, increasing their contribution to the business and building their self-esteem The training they do can take them into other positions within the organisation – positions with better prospects and/or better pay They’re upskilled to do new and different tasks, which keeps them motivated and fresh Because they’re being trained on your time, they see that you value them enough to invest in them.  A good company is seen as one that retrains rather than churns.

Employee benefits
Regular training and learning opportunities are an investment that helps employees to prosper and develop their careers. By investing in their success, employees become more loyal to the business, leading to lower turnover rates and decreased absenteeism. In return, your business benefits from a highly skilled, stable workforce, which gives you a competitive advantage in the market. Improved staff attitude and morale

People enjoy learning when the material is relevant to their interests and many will be eager to apply their new skills and knowledge in practical situations. Employees that possess diverse skills are generally more satisfied and positive in their jobs. This decreases the occurrence of work-related stress and improves the overall work environment. By investing in their training, staff often feel that the employer not only has the confidence in them to do their job, but that the business values them, and is giving something back above and beyond wages or salary. As a result, employees will become self-starters and develop further competencies such as leadership and teambuilding and be more willing to undertake further training. Recruitment and retention

Well-trained and valued employees lead to a positive and productive workplace, leading to lower turnover rates and lower recruitment costs. A supportive environment where staff are trained and valued attracts the best talent, helping...
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