6 HRM Are you satisfied with the current training practices of the organization? What changes do you see in training and development practices? Any suggestion from friends that work in another company for training needs and competencies Would like to learn advanced business courses? What competencies do you want to upgrade to? Do skills sufficient to solve issues and challenges of your job role External Environment- PEST Analysis (Strategic Setting) To understand the external environment constraints Pest Analysis can be conducted for the successful implementation of the organizational learning strategy of the organization (ABC Ltd). The organizational learning strategies require high investment hence, the outcomes should provide adequate returns for improving business revenues and overall economic development.To align the learning strategy of the organization with that of vision, mission, and goals, it is important to conduct internal and external analysis while planning prospects and communication to identified stakeholders Political – The Australian Rules and law support professional development amongst the workforce, hence learning strategies can be aligned with the corporate laws of Australia. Societal : The learning strategies with the organization should aim at reducing regional and societal development of Australia (like designing strategies for meeting the needs of different communities of the region.) Strategic Environment : The professional learning strategies within the organizational learning programs will create a competitive edge as skills and knowledge will be updated in alignment with market conditions and customer insights Economic : Local International R&D can be used for learning strategies. The aging population has increased competition hence, new generations have to be trained for overall. Technological : Technology in Australia has been developing for decades hence technological tools like e-learning, advanced ICT can be undertaken for the implementation. Issues and Benefits After conducting the external environment, internal environment analysis can be conducted through a SWOT analysis of the organization. Organizational learning strategy refers to the commitment of the organization towards the implementation of training. There might arise several issues as well as benefits associated with learning strategies. Strengths and Weakness The strengths and weakness of the organization (ABC Ltd) should be considered as they might impact training and developmental needs Company: ABC Ltd Responsible Executive: HR manager and Line manager Date: 09- 12-2020 Version: Weakness Strengths Goals H/M/L Constraints Inadequate training place and curriculum Training plans for updating industry knowledge Update employee knowledge insights for improving workflow H High costs of training An obsolete curriculum that implies verbal and oral instructions Secured investments for including e-learning and incorporating activities for enhancing the knowledge Improving curriculum, incorporating e-learning in training and development strategies H All employees might not be comfortable learning through e-resources especially the mid-aged and aged population (if any) Company: ABC Ltd Responsible Executive: HRM and Line managers Date: 22-12-2020 Version: Threats Opportunities Goals H/M/L Enablers Lack of investments due to economic disruptions Incorporating e-learning resources for managing training costs and profitability. Designing and implementing coaching strategies H Coaching and learning resources can be incorporated into the employee portal. The employee can attain guidance through online chatbots for completing the knowledge tasks Rising trends and development in Alternative Human capital Balancing the use of AI with that of human capital Reducing the costs of training and inefficiencies by applying AI and business analytics techniques M Use of AI should be done in nosiness analytics according to human capital can be aligned with organizational objectives and market conditions Training and Education needs for the future workplace Organization ABC Ltd Capability Number of staff to be trained per month Priority Target Audience Employees in numbers (Accounting) Selling Suppliers Contractors Competency Business analytics 15 High 5 20 15 10 Behaviour Team skills and co-operation 20 High 5 20 15 10 Conflict resolution 20 High 5 20 15 10 Other attributes Ensuring high employee engagement 20 High 5 20 15 10 Effective communication skills 20 High 5 20 15 10 Workforce Segmentation Organizational Units: NSW, Perth Major Division Job Roles Goals Context Issues Accounts Accountant Overviewing costs and profits Managing financial operations Selling Sales executive Convincing customer to purchase products and services Aligning with customer needs Conclusion The training and development needs of the employees should be met with market conditions, internal and factors, strengths, weaknesses, and threats. Organizational learning strategy refers to the commitment of the organization towards the implementation of training thus enabling measuring returns to meeting specific objectives. In recent times, organizations are considering implementing several learning strategies for addressing skills gaps, skills readiness, human capital, and other related capabilities.It is very important to attain high employee job satisfaction, work-life balance, catering to professional needs, and another aspect of the professional career of the workforce. Reference List Noe, R.A., and Kodwani, A.D., 2018. Employee training and development, 7e. McGraw-Hill Education. Salas, E., Tannenbaum, S.I., Kraiger, K., and Smith-Jentsch, K.A., 2012. The science of training and development in organizations: What matters in practice. Psychological science in the public interest, 13(2), pp.74-101.
Subject Name: Audit
Level: Undergraduate
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