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Subject: Human Resource Management
Submitted By: Muddassir Najmi (21)
Question1. Difference betweenTraining and Development.
Answer:
Differences Training Development
Meaning The process ofIncreasing the
knowledge and skills ofan
employee.
The continuous process ofthe
overall growth ofan employee
for future management task.
Orientation Training is directly oriented
with the Job.
Development is Oriented with
Career.
Focus Training provided to an
employee to improve their
work efficiency to go the extra
mile in their Job.
Development leads to the
holistic personality
development ofan employee
which helps him/her lifelong.
Nature Training helps to nurture the
quality of an employee that
already possessed by the
employee.
Development helps to explore
the hidden quality of the
employee.
Suitability Training is suitable for
technical employee mainly.
Development is suitable for
managerial employee mainly.
Method Used On the job method ofTraining Off the job method, it is.
Initiative An initiative is taken by
Superior to give training to
subordinate
Individual himselftake
initiative for his growth
development
Duration Training is a short term
process in which duration is
fixed and certain.
Development is the never-
ending process,it is a
continuous process.
Centered Training is work centered,
employee,learn what they
have to implement in Job.
Development is person-
centered,different knowledge
and skill employee learn.
Question3. Return on Investment with respectto Training.
Answer: Return on investment (ROI) is a calculation of the monetary benefits that are incurred
by the organization over a specific time interval in return for the given investment in the
training programme. On another way we can interpret, ROI is the limitation to which the benefits
(outputs) of training surpass the costs (inputs).
Benefits of ROI of Training.
 Helps in Justifying the allocated training budget
 Helps to show/scale the outcome/ result of Training.
 Helps to use allocated training budgets effectively
 Helps to exhibit the outcome to management and the stakeholders
 Helps in finding the areas of Improvement.
 Helps in creating the trust factor between ourselves and our unit.
Essential Tips for using ROI for Training
 Estimation requires the experience with little math, therefore use the experience of senior
management and employees for estimation of training outcome
 Prompt response or adjustment may help the HR Manager to reduce cost and manage the
project within or near the budget limit.
 ROI should be calculated by the use of a key performance parameter which was
identified at the beginning of initiative with applicable Stakeholders
Calculating ROI for Training
Determine the important measurements and converts into money.
Measurement can be ‘Tangible" and "Intangible" and can be referred to as Hard Data and the
Soft Data.
Hard Data are those we can be easily converted to monetary value i.e. quantitative,number
oriented and statistical while soft Data are difficult to convert it in terms of monetary value and it
is qualitative and subjective in form.
Sample Hard Data
Labour/hr cost of production
Productivity measures/quality measure
Customer satisfaction rating/No of repeat customer
Sample Soft Data
Improved Job Satisfaction
Improved Team Work
Improved Planned succession
Sample Training Cost
Wages and Salary of the Trainees and Instructor
Cost of Instructional Material
Administration
Logistics
ROI Formula
Total Benefit-Total Cost *100
Total Cost
Question #. Difference between On Job and OFF Job training.

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Hrm asign 21 muddassir

  • 1. Subject: Human Resource Management Submitted By: Muddassir Najmi (21) Question1. Difference betweenTraining and Development. Answer: Differences Training Development Meaning The process ofIncreasing the knowledge and skills ofan employee. The continuous process ofthe overall growth ofan employee for future management task. Orientation Training is directly oriented with the Job. Development is Oriented with Career. Focus Training provided to an employee to improve their work efficiency to go the extra mile in their Job. Development leads to the holistic personality development ofan employee which helps him/her lifelong. Nature Training helps to nurture the quality of an employee that already possessed by the employee. Development helps to explore the hidden quality of the employee. Suitability Training is suitable for technical employee mainly. Development is suitable for managerial employee mainly. Method Used On the job method ofTraining Off the job method, it is. Initiative An initiative is taken by Superior to give training to subordinate Individual himselftake initiative for his growth development Duration Training is a short term process in which duration is fixed and certain. Development is the never- ending process,it is a continuous process. Centered Training is work centered, employee,learn what they have to implement in Job. Development is person- centered,different knowledge and skill employee learn.
  • 2. Question3. Return on Investment with respectto Training. Answer: Return on investment (ROI) is a calculation of the monetary benefits that are incurred by the organization over a specific time interval in return for the given investment in the training programme. On another way we can interpret, ROI is the limitation to which the benefits (outputs) of training surpass the costs (inputs). Benefits of ROI of Training.  Helps in Justifying the allocated training budget  Helps to show/scale the outcome/ result of Training.  Helps to use allocated training budgets effectively  Helps to exhibit the outcome to management and the stakeholders  Helps in finding the areas of Improvement.  Helps in creating the trust factor between ourselves and our unit. Essential Tips for using ROI for Training  Estimation requires the experience with little math, therefore use the experience of senior management and employees for estimation of training outcome  Prompt response or adjustment may help the HR Manager to reduce cost and manage the project within or near the budget limit.  ROI should be calculated by the use of a key performance parameter which was identified at the beginning of initiative with applicable Stakeholders Calculating ROI for Training Determine the important measurements and converts into money. Measurement can be ‘Tangible" and "Intangible" and can be referred to as Hard Data and the Soft Data. Hard Data are those we can be easily converted to monetary value i.e. quantitative,number oriented and statistical while soft Data are difficult to convert it in terms of monetary value and it is qualitative and subjective in form. Sample Hard Data Labour/hr cost of production Productivity measures/quality measure Customer satisfaction rating/No of repeat customer Sample Soft Data Improved Job Satisfaction Improved Team Work Improved Planned succession
  • 3. Sample Training Cost Wages and Salary of the Trainees and Instructor Cost of Instructional Material Administration Logistics ROI Formula Total Benefit-Total Cost *100 Total Cost
  • 4. Question #. Difference between On Job and OFF Job training.