Effectiveness of training and development among employees in private banks

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Effectiveness of training and development among employees in private banks

  1. 1. International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 – INTERNATIONAL JOURNAL (2013)MANAGEMENT (IJM) 6510(Online), Volume 4, Issue 2, March- April OFISSN 0976-6502 (Print)ISSN 0976-6510 (Online)Volume 4, Issue 2, March- April (2013), pp. 118-124 IJM© IAEME: www.iaeme.com/ijm.aspJournal Impact Factor (2013): 6.9071 (Calculated by GISI) ©IAEMEwww.jifactor.com EFFECTIVENESS OF TRAINING AND DEVELOPMENT AMONG EMPLOYEES IN PRIVATE BANKS (WITH REFERENCE TO CHENNAI CITY) Ms.S.Sujatha Asst.Professor, SRM School Of Management, SRM University. Kattankulathur -603203 Kancheepuram District Ms.K.Santhana lakshmi Asst.Professor, SRM School Of Management, SRM University. Kattankulathur -603203 Kancheepuram District Mr.Martin selvakumar.M Faculty, Department Of Management Studies,Anna University, Taramani Campus, Chennai 600113 Kancheepuram District Dr.N.Santhosh Kumar Asst.Professor, SRM School Of Management, SRM University. Kattankulathur -603203 Kancheepuram District ABSTRACT Training and development is vital part of the human resource development. It is assuming ever important role in wake of the advancement of technology which has resulted in ever increasing competition, rise in customer’s expectation of quality and service and a subsequent need to lower costs. It is also become more important globally in order to prepare workers for new jobs. In the current write up, it focus more on the emerging need of training and development, its implications upon individuals and the employers. According to author Peter Drucker said that the fastest growing industry would be training and development as a result of replacement of industrial workers with knowledge workers. In United States, for example, according to one estimate technology is de-skilling 75 % of the population. This is true for the developing nations and for those who are on the threshold of development. In Japan for example, with increasing number of women joining traditionally male jobs, training is required not only to impart necessary job skills but also for preparing them for the physically demanding jobs. They are trained in everything from sexual harassment policies to the necessary job skills. 118
  2. 2. International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 –6510(Online), Volume 4, Issue 2, March- April (2013)INTRODUCTION Gregory (2001) concluded that training has a great impact on employee s subsequentjob performance and the lack of training and development results in managers not familiarwith the task requirements as well as the core competencies such as knowledge, skills andabilities which managers must possess to perform well the organization s tasks, as a resulttheir performance as well as motivation level decrease. He suggested that the managers inservice organizations must be knowledgeable in all newer functions that apply to theirdepartments so that overall organizational objectives can be achieved effectively andefficiently in accordance with the new demands posses by the corporate environment. Adescriptive study conducted by a group of researchers. Roscoe (2002) said: No professional completes their initial training equipped topractice competently for the rest of their life . He argued that corporate environment ischanging day by day and in order to cope with the level of changes, organizations implementvarious dynamic processes including the training programs which subsequently increase themotivation levels of employees as after the training process most of the employees seekpromotions to higher level jobs which is the main cause of motivation. Garavan et al. (2003) found that training process is a more job oriented that canchange employee attitudes and behaviors that motivate them to increase their knowledge andunderstanding of the job according to the dynamic corporate environment. Khattaket al.(2010) suggests that training and development is directly related withsuccessful performance of managers, organizations and nations. The countries which spendmore on training and development of human resources are relatively more developed ashuman resources contribute to productivity more than physical and other resources but thereis a problem, population growth is inversely related with human capital investment,particularly in developing countries like Pakistan, so it should be controlled in order to spendmore on training and development of human resources that make the more employees to getinvolved in their jobs and increase their subsequent performance. A Questionnaire survey conducted on 1000 top companies of Malaysia where (Jamil& Som, 2007) concluded that changing nature of today s corporate environment and theintense global competition where consumers demand more quality services require theorganizations to continuously train their human resources in order to maintain marketcompetitiveness and business survival. The researchers argued that ad-hoc trainingapproaches and the training programs without proper analysis leads to poor traininginvestments, so three levels of analysis(individual, organizational and operational) as well asthe multiple data collection methods and techniques should be used to analyze the trainingneeds in order to effectively design and implement the training programs for motivating theemployees and achieving the organizational goals more efficientlyObjectives • To identify training needs and opportunities assessed and provided for employees in private banks. • To analyze various method to find out effectiveness of training and development. 119
  3. 3. International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 –6510(Online), Volume 4, Issue 2, March- April (2013)RESEARCH METHODOLOGYDESIGN OF THE STUDY The Design of the Study is the conceptual within which research is conducted. Itconstitutes the blue print for the collection, measurement and analysis of data.RESEARCH DESIGN Research design has characteristics, problem definition, specific methods of datacollection and analysis, time required for research project.RESEARCH METHOD • Explorative private banks in Chennai.DATA SOURCES • Primary data: Is generated in an investigation with the help of questionnaires. • Secondary data: Is collected from books, internet, articles, journals and other sources.SAMPLE SIZE: 108 employees as sample.SAMPLE AREA: the research is conducted in the private banks.SAMPLE METHOD: The method we are using here is survey method; descriptive researchdesign is used to collect the information.DATA ANALYSIS: Data were analyzed using SPSS 18 packageTOOLS FOR DATA COLLECTION: Questionnaire is used for data collection. A pilotstudy is done by administering a questionnaire to sample of respondents found out thevalidation of the study. The questionnaire contains the objective of the study. PrivateDATA ANALYSIS AND INTERPRETATIONTo identify the variables influencing effectiveness of training and development amongemployees in private banks, multiple regression analysis was done.1. MULTIPLE REGRESSION ANALYSIS Model summaryb Model R Rsquare Adjusted R Std. error Durbin- square of the watson estimate 1 .263a .069 .024 .86326 1.819 a. Predictors: (Constant), income, gender, qualification, marital, age b. Dependent Variable: job improvement 120
  4. 4. International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 –6510(Online), Volume 4, Issue 2, March- April (2013) Job improvement was calculated and used as the dependent variable. The independentvariables included were monthly income, gender, qualification, marital status and age. With spss package the regression was run and it was found out that the r2 value wasaround 0.6 9 implying that the selected independent variables together explained 60% ofvariation in the job improvement index. The F value (1.517) was found to be statistically significant at 5% level. As regardsthe independent variables out of 5 variables included in the function. They are age,qualification, gender, marital status and monthly income. A percentage increase in agecaused a decline of the job improvement index by 84%, followed by 83% decline in jobimprovement index, when qualification improved. Marital status also significantlycontributed to a change in job improvement index by 1.16 for every change in marital status.Every one unit increase in income brought about nearly 0.91 unit change in job Improvementindex.2. CHI SQUARE ANALYSISCROSS TAB AND JOB MAINTAINING To examine whether training given to the trainees helps to improve theireffectiveness of job, chi square analysis was conducted and it was found that these twovariables are significantly associated (x2=84.065*). This implies that knowledge or skills andinformation gathered during this training will help me play a bigger role than my current joband after training I think that I can be of great help in maintaining a cordial and orderlyatmosphere in the bank. From the literature it is noted that the knowledge or skills can be maintained withappropriate after training it is maintained. To identify whether such training has improvedthe job effectiveness among the employees in private banks, chi square analysis was donewhich revealed a highly significant association between knowledge and after training.(x2=80.02*) Chi-Square Tests Asymp. Sig. Value df (2-sided) Pearson Chi-Square 84.065a 16 .000 Likelihood Ratio 65.788 16 .000 Linear-by-Linear Association 4.372 1 .037 N of Valid Cases 1083. FACTOR ANALYSIS KMO and Bartletts Test Kaiser-Meyer-Olkin Measure of .524 Sampling Adequacy. Bartletts Test of Approx. Chi- 2201.8 Sphericity Square 09 df 351 Sig. .000 121
  5. 5. International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 –6510(Online), Volume 4, Issue 2, March- April (2013) Factor analysis was performed to determine the important factors which influenceeffectiveness of job. The KMO value (0.524) indicated that a factor analysis could be carried out.Bartlett’s test indicated that there is significant association between job effectiveness and thefactors included. Among the factors included only 8 factors with Eigen value >1 were found tobe relevant in influencing job effectiveness. These 8 factors together explained 75 percent ofvariance in job effectiveness. Component Extraction Sums of Squared Rotation Sums of Squared Initial Eigen valuesa Loadings Loadings % of Cumulative % of Cumulative % of Cumulative Total Variance % Total Variance % Total Variance %Raw 1 6.171 29.270 29.270 6.171 29.270 29.270 2.383 11.303 11.303 2 2.291 10.867 40.137 2.291 10.867 40.137 2.356 11.174 22.477 3 1.795 8.515 48.652 1.795 8.515 48.652 2.369 11.237 33.714 4 1.592 7.554 56.206 1.592 7.554 56.206 2.441 11.579 45.293 5 1.287 6.103 62.309 1.287 6.103 62.309 1.968 9.336 54.629 6 1.103 5.231 67.540 1.103 5.231 67.540 1.740 8.255 62.884 7 1.031 4.891 72.430 1.031 4.891 72.430 1.527 7.244 70.128 8 .940 4.461 76.891 .940 4.461 76.891 1.426 6.763 76.891 9 .695 3.298 80.190 10 .599 2.839 83.029 11 .552 2.621 85.650 12 .523 2.480 88.130 13 .423 2.008 90.138 dimension1 14 .392 1.859 91.997 15 .290 1.374 93.371 16 .254 1.205 94.576 17 .227 1.076 95.652 18 .216 1.025 96.676 19 .158 .752 97.428 20 .122 .581 98.009 21 .110 .523 98.532 22 .094 .447 98.979 23 .079 .375 99.354 24 .051 .242 99.596 25 .037 .177 99.774 26 .033 .155 99.929 27 .015 .071 100.000 122
  6. 6. International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 –6510(Online), Volume 4, Issue 2, March- April (2013)From the varimax rotated component matrix (assuming a cut off limit of 0.5), Component Matrixa Component 1 2 3 4 5 6 7 8learningneed .615 .406 -.085 -.053 .292 .205 -.296 -.131learningobjective .611 .355 -.183 .100 .342 -.207 -.081 -.290programnewideas .339 .742 -.009 .120 .168 .199 .170 .080participation .402 .634 .220 -.326 -.023 .020 .087 .225sufficienttime .281 .271 .126 -.496 .516 -.206 .024 .150relevant .518 .281 .218 -.147 -.277 .358 .225 .351greatinterest .524 .337 -.352 .143 -.038 .021 .383 -.283materialassistance .624 .363 -.024 .302 -.214 -.253 .138 -.330managed .514 .246 .313 -.386 -.224 -.137 -.251 -.010satisfactory .611 .312 -.191 .187 -.275 -.145 -.258 .192encouraged .583 -.086 .199 .077 -.621 .053 -.132 .116livesituations .239 -.100 .264 .718 .174 -.288 -.048 .108jobimprovement .349 -.199 .727 .292 .163 .256 .080 -.071jobinnovation .613 -.040 .385 .111 .187 -.118 -.426 -.058knowledge .558 -.341 .373 -.043 .096 .105 .342 .009growthrelevant .671 -.387 .128 -.335 -.165 -.043 .253 -.096helpful .573 -.322 .063 -.258 .103 -.236 .376 -.206latesttechnology .669 -.400 -.110 -.168 .029 -.027 -.210 -.227overallperformance .568 -.143 -.500 -.065 -.025 .263 .240 -.076incentives .696 .120 .059 -.110 -.240 -.002 -.142 -.195behaviourbridging .556 -.297 -.419 .023 .113 .236 -.100 .223maintaining .586 -.265 -.388 -.017 -.040 .252 -.344 .088confidence .527 -.073 -.303 .358 -.003 -.298 .194 .374attitudeusefulness .263 -.031 .066 .224 .371 .602 -.006 .035misstraining .729 -.292 .105 .347 -.017 .034 .064 .022seriousness .466 -.464 -.070 -.292 .176 -.088 -.152 .043ongoingprocess .440 -.118 -.088 -.075 .235 -.375 .104 .492Extraction Method: Principal Component Analysis.a. 8 components extracted. The first component contained only 2 factors namely, I felt the need for the trainingbefore attending the training program, I achieved the objectives of the training program.These two factors are together considered as learning objective component. These factorstogether caused about 11.3 percent variance in the job effectiveness. A second component indicated only 4 factors namely during the program, I cameacross a lot of new ideas, which are useful to me in training program, there was high degreeof participation and involvement during the program, the program was well structured andsufficient time was allocated for each subject and session, to a large extent , the trainingprogram was relevant to my present job, overall the program was of great interest to alltrainees when trying to persuade others which accounted for about 11.1percent variance injob effectiveness. This component is renamed as program component. 123
  7. 7. International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 –6510(Online), Volume 4, Issue 2, March- April (2013) The third component revealed the following 5 factors namely required training materialand assistance was given during the program, the program was well managed and venue wascomfortable, the trainer presented the materials satisfactorily and it was easy to understand, thetrainer encouraged participants to ask questions, several cases or examples or live situations werediscussed, which together resulted in 11.2% variance in job effectiveness. This is Materials andfacilities component. Similarly fourth component indicated 3 factors namely, as a result of going through thisprogram I will be able to improve the way I do my current job, I can make innovations at workplace using the information learned in this training, the knowledge or skills and informationgathered during this training will help me play a bigger role than my current job, which explainedabout 11.5 percent of variance in emotional intelligence. This component is named jobeffectiveness component.The other 4 components together caused about 32 percent variance in job effectiveness.CONCLUSION The result clearly indicated that the job effectiveness can be maintained with appropriatebehavior or relationship among employees working in private banks. Research also examined themost effective means of developing job effectiveness within the trainees. The researchinvestigated whether growth or result is developed. Another vital finding indicated the attitude towards training. By identifying learningobjective trainees felt more achievement. During the programs trainees came to know across a lotof new ideas, which are useful for them. The method of conducting the training is used bymaterials and facilities given for trainees by the trainer. Finally it is investigated that there is no problem identified during the training sessionconducted by their bank.REFERENCES1. Anglin, G. M. (2001). Company officer training and development - Maintaining consistency in dynamic environment, National Fire Academy, pp. 1-39.2. Roscoe, J. (2002), Continuing professional development in higher education, Human ResourceDevelopment International, 5(1), pp. 3-9.3. Garavan, T.N., Hogan, C. and Cahir-O Donnell, A. (2003), Making Training and DevelopmentWork: A Best Practice Guide, Dublin, Oak Tree Press.4. Khattak, M. A., Bashir, F., &Qureshi, T. M. (2010). "Training and Development paradigm, and its contribution in economic uplift of the country, A case from Pakistan", 12th International Business Research Conference, pp.1-16.5. Jamil, R., &Md.Som, H. (2007). Training Needs Analysis: Practices of Top Companies in Malaysia. International Review of Business Research Papers, 3 (3), 162-175.6. N. Mohan, N. Prabha and P.Mohanraj, “Work Life Balance Through Flexi Work Arrangements: Empirical Study on Bank Employees” International Journal of Management (IJM), Volume 1, Issue 2, 2010, pp. 53 - 61, ISSN Print: 0976-6502, ISSN Online: 0976- 6510.7. Dr. N. Shani and V. AnandKumar, “A Study on Job Characteristics and Internal Work Motivation among ICICI Bank Employees” International Journal of Management (IJM), Volume 2, Issue 2, 2011, pp. 56 - 65, ISSN Print: 0976-6502, ISSN Online: 0976-6510.8. N.Mallika and Dr.M.Ramesh, “Job Satisfaction in Banking: A Study of Private and Public Sector Banks” International Journal of Management (IJM), Volume 1, Issue 1, 2010, pp. 111 - 129, ISSN Print: 0976-6502, ISSN Online: 0976-6510. 124

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