Projec report on training and development project from reliance money

14,193 views

Published on

3 Comments
22 Likes
Statistics
Notes
No Downloads
Views
Total views
14,193
On SlideShare
0
From Embeds
0
Number of Embeds
3
Actions
Shares
0
Downloads
668
Comments
3
Likes
22
Embeds 0
No embeds

No notes for slide

Projec report on training and development project from reliance money

  1. 1. SHERWOOD COLLEGE OF PROFESSIONAL MANAGEMENT A SUMMER TRANING REPORT ON “TRAINING AND DEVLOPMENT” SUBMITTED IN THE PARTIAL FULFILLMENT OF THE DEGREE OF BACHELOR’S OF BUSINESS ADMINISTRATION UNDER THE GUIDANCE OF:Mr Saurabh Rawat SUBMITTED BY:YASH AGARWAL BBA-5th SEMESTER
  2. 2. ROLL NO:- 11072101059 ACKNOWLEDGEMENT I take the opportunity to express our gratitude to all the concerned people who have directly or indirectly contributed towards completion of this project. I extend my sincere gratitude towards Reliance Money for providing the opportunity and resources to work on this project. I am extremely grateful to Mrs. Nafisa Sheikh, my mentor in Reliance for her guidance and invaluable advice during the projects. Also to my guide, Mr. Puneet Goyal whose insight encouraged me to go beyond the scope of the project and this broadened me learning on this project. I also want to show my gratitude to Dr. Surya Ramdas whose insight helped me to complete this project. YASH AGARWAL (BBA Vth SEM) Page | 2
  3. 3. PREFACE Summer training is the most vital part of an BBA course, both as a link between theory and actual industrial practices as well as an opportunity for hands on experience in corporate environment. I therefore, consider myself fortunate to receive the training in an esteemed organization viz. Reliance Money. Yet the opportunity could not have been utilized without the guidance and support of many individuals who although held varied positions, but were equally instrument for although completion of my summer training. Mr. Saurabh Rawat and also thanks to all my faculty members and my Parents and friends. However, I accept the sole responsibility errors of omission and would be extremely grateful to readers of this project report if they bring such mistake to my notice. YASH AGARWAL (BBA Vth SEM) Page | 3
  4. 4. EXECUTIVE SUMMARY Every organization needs to have well trained and experienced people to perform the activities that have to be done. If current or potential job occupants can meet this requirement, training is not important. When this not the case, it is necessary to raise the skill levels and increase the versatility and adaptability of employees. It is being increasing common for individual to change careers several times during their working lives. The probability of any young person learning a job to day and having those skills go basically unchanged during the forty or so years if his career is extremely unlikely, may be even impossible. In a rapid changing society employee training is not only an activity that is desirable but also an activity that an organization must commit resources to if it is to maintain a viable and knowledgeable work force. The entire project talks about the training and development in theoretical as well as new concepts, which are in trend now. Here we have discussed what would be the input of training if we ever go for and how can it be good to any organization in reaping the benefits from the money invested in terms like (ROI) i.e. return on investment. What are the ways we can identify the training need of any employee and how to know what kind of training he can go for? Training being covered in different aspect likes integrating it with organizational culture. The best and latest available trends in training method, the benefits which we can derive out of it. How the evaluation should be done and how effective is the training all together. Page | 4
  5. 5. CONTENTS CONTENT PAGE NO.  Acknowledgement 2  Preface 3  Executive summary 4  Introduction  Training and Development 7-18 19-33  Learning and Training 34-74  Research Methodology 75-79  Analysis & Interpretation 80-90  Findings 91  Limitation 92  Conclusion & Suggestion 93  Appendix  Bibliography 94-97 98 Page | 5
  6. 6. INTRODUCTION Page | 6
  7. 7. Reliance Anil Dhirubhai Ambani Group The Reliance – Anil Dhirubhai Ambani Group is among India’s top three private sector business houses on all major financial parameters, with a group market capitalization of Rs 200,000 crore (US$ 50 billion), and net worth to the tune of Rs 58,000 crore (US$ 13 Billion) Across different companies, the group has a customer base of over 150 million, the largest in India, and a shareholder base of over 12 million, among the largest in the World. Through its products and services, the Reliance - ADA Group touches the life of 1 in 8 Indians every single day. It has a business presence that extends to over 5000 towns and Cities in India, and served by 12,000 distribution outlets, 500,000 business partners and 30,000 strong motivated workforce.The interests of the Group range from communications (Reliance Communications) and Financial services (Reliance Capital Ltd), to generation, transmission and distribution of Power (Reliance Energy), infrastructure, media and entertainment. Introduction to Reliance Money  Reliance Money provides investors with the facility of anytime-anywhere online trading in all major asset classes, namely: • Equities, Equities and Commodity derivatives • IPOs, Mutual Funds • Life and General Insurance products • Foreign exchange derivatives Page | 7
  8. 8. • Money transfer, Money changing, • Precious metal retailing • Credit Cards • Loans • Wealth Management products  Network of kiosks have been set up across the country to facilitate the above trading activities  Reliance Money provides entire commodity related services such as broking distribution and warehouse receipt financing  Expanded its presence to 20,000 touch points. It has 10,000 outlets across 5,000 towns and cities across India.  Currently 2200+ employees across 162 locations spread across the country.  The Corporate Office at Worli, Mumbai has approx 350 people belonging to these various functions  Acquired 2.5 million customers  Accounts for daily traded volumes of over Rs 2,000 crore ( US$ 454 million ), or 3-4 % of the average daily volume of transactions logged on the stock exchanges  Among the Top 3 private sector companies in financial services sector  Moved into International arena- West Asia, South East Asia, Africa and Europe. Page | 8
  9. 9. SCOPE OF THE STUDY The scope of the study covers in depth, the various training practices, modules, formats being followed and is limited to the company Reliance Money and its employees. The different training programmes incorporated/facilitated in Reliance Money through its faculties, outside agencies or professional groups. It also judges the enhancement of the knowledge & skills of employees and feedback on its effectiveness. OBJECTIVE OF THE STUDY The broad objective of the study of training policies in Reliance Money is to study the impact of training on the overall skill development of workers. The specific objectives of the study are: 1. To examine the effectiveness of training in overall development of skills of workforce. 2. To examine the impact of training on the workers. 3. To study the changes in behavioral pattern due to training. 4. To measure the differential change in output due to training To compare the cost effectiveness in implanting training programmes. Page | 9
  10. 10. Our Mission …. is to attract, nurture & retain a team of competitive, growth oriented talent who:-  consistently deliver share-holder returns of 20%+ year-on-year  are responsive to Employee Needs & achieving an employee satisfaction index of 90%+ and…  are committed to making Reliance Capital among the top 3 “Best Employers to work for” in India through Transparent & Robust HR processes. Our Chairman’s Vision “We live in a world where the young are reaching higher, dreaming bigger and Demanding more; a world that is challenging the limits of hope and possibility. Now here is this more strikingly visible than in India – a country that wakes up every morning a little younger in age, but infinitely more ambitious in spirit.” Page | 10
  11. 11. Achievements List of recent achievements• In two successive joint surveys by The Economic Times’ Brand Equity and ACNielsen, Reliance was recognized as India’s Most Trusted Mutual Fund. • The company also walked away with seven other scheme prizes – five of them being outright winners – in the Gulf 2007 Lipper Awards. These included the Fund House of the Year by Lipper GCC as well as ICRA Online and the Most Improved Fund House by Asia Asset Management. • It also received the NDTV Business Leadership Award 2007 in the mutual fund category and runners’ up recognition as the Best Fund House in the Outlook MoneyNDTV Profit Awards. • In addition, the company received the coveted CNBC Web18 Genius of the Web distinction for the Best Mutual Fund Website in the country. RCAM was awarded the India Onshore Fund House 2008 instituted by the Asian Investor magazine. • The company also won the India Equities award in the 5-yearPerformance category. Other achievements• Reliance Money generated revenues of Rs. 35 billion (US$ 767 million) for the year March 31, 2009 as against Rs. 24 billion of the corresponding previous period, an increase of 48%. It Page | 11
  12. 12. also achieved a net profit of Rs. 368 million (US$ 8 million) for the same period, as against a net profit of Rs. 1 million for the corresponding previous period • Reliance Money is the one of the leading brokerage and distributor of financial products in India with more than 3 million customers • Reliance Money has tied up with global partners like Reuters, Vasco, Valcambi, Webaroo, optionsXpress Holdings, Goldride Securities, World Gold Council, Wincor Nixdorf and DBS Vickers to facilitate better access to wider world class choices to its customers • It is amongst the leading Mutual fund distributors of the country distributing products of 20 AMCs. It is the the largest private sector partner for Western Union Money Transfer in India • To further improve its position in the money changing and money transfer business, Reliance Money has acquired a significant share holding in Wall Street Finance Ltd, a leading provider of money changing and money transfer services in the Country • Reliance Money has tied up with Kuoni India and plans to retail its forex products/services through the national network of over 70 Kuoni outlets • Reliance Money has tied up with India Post and World Gold Council to sell gold coins through the post office network across the country • Reliance Money has obtained Category I Merchant Banking License from the Securities and Exchange Board of India. This new license allows Reliance Money to provide a wide range of investment banking services such as Issue Management, Underwriting, Private Equity Advisory/ Syndication and Corporate Finance services in India • Reliance Money is taking its first steps into the Commodities Exchange business and is in the process of acquiring a 15 per cent stake in Hong Kong Mercantile Exchange (HKMEx). Page | 12
  13. 13. With this holding, Reliance Money becomes the second-largest shareholder in the commodity exchange and will have a board membership. Reliance Money is the first Indian firm to acquire a stake in an international exchange Basic structure of Reliance ADA group Page | 13
  14. 14. Working At Branch level Page | 14
  15. 15. Reliance Money Lucknow (Branch office) Staff at Branch LevelAt Reliance Money Lucknow, the following hierarchy exists:• Three Centre managers. • Eight to ten Business Development Executives under each Centre manager. • Business associates under each Centre Manager their number depending upon the area allotted to each CM. • Remisars under each centre manager. • Team leader and PFC”s under him for life insurance. • One Customer Support Executive and One Senior Finance executive. Page | 15
  16. 16. Product Offering Reliance Money currently deals in the following financial products: Trading Portal Online trading refers to buying and selling of the shares/stocks/contracts/bonds with the use of internet. In this shares are not issued in physical form rather they are transferred in the dematerialized form in the Demat account directly Demat account There are many broking houses doing business in India and they charge a brokerage on every transaction made online or offline. (Buying and Selling are treated as separate transaction). Reliance Money’s advantage over others is that it’s charging the lowest brokerage in the market which is just 1 paisa on every executive trade irrespective of the volume traded. Reliance Money, the brokerage and distribution arm of Reliance ADA Group, aims to tap investors in the smaller towns and cities through a flat fee structure. The new wonder is Reliance Money's pre-paid card for stock market brokerage. Reliance Money, the financial services division of Anil Dhirubhai Ambani Group-promoted Reliance Capital, is bringing to the market pre-paid cards in denominations of Rs500, Rs1,000, Rs. 2500, Rs. 5,000 and Rs.10,000. Page | 16
  17. 17. •Equities Equity investment generally refers to the buying and holding of shares of stock on a stock market by individuals and funds in anticipation of income from dividends and capital gain as the value of the stock rises. It also sometimes refers to the acquisition of equity (ownership) participation in a private (unlisted) company or a startup (a company being created or newly created). •Commodities A single platform to trade on both the major commodity exchanges i.e. NCDEX and MCX. In addition In-house research desk shall provide research reports on all major commodities which shall enable in getting views for trading and diversify client’s holdings. Trade Execution assistance is also provided to clients. •Offshore Investments Offshore investment is the keeping of money in a jurisdiction other than one's country of residence. Offshore jurisdictions are a commonly accepted solution to reducing excessive tax burdens levied in most countries to both large and small scale investors alike. The advantage to this is that such operations are both legal and less costly than the solutions offered in the investor's country - or "onshore". How reliance money scored over others? 1.Two way authentication: Reliance offers its customers with a token (an electronic gadget) that generates a password, which are a third level of security in addition to the customer log in and a password provided. The password generated by the token is valid only for a period of 20 seconds. If the web page expires, for the fresh login, a new password generated by the token has to be keyed in by the customer. Page | 17
  18. 18. 2.Lowest brokerage: Reliance offers the lowest brokerage of 1 paisa which is very less with respect to the other DPs in the market. 3.User friendly software: The portal offered is very easy to understand and use. 4.Better research and news: Reliance offers news from the DOW JONES and REUTERS. Seeking to bring share trading closer to consumers just like ATMs, Reliance Capital's stock brokerage arm Reliance Money launched Internet trading services through web-enabled retail kiosk. Reliance Money Provide the kiosks (similar to ATM’s) Facilities, to their customer through which the customers can trade on available kiosks at the particular Branch of Reliance Money. The company are going to open these kiosks in the market as the ATM’s of the Banks Reliance Money share trading account Reliance Money unlike other brokering houses has introduced a new prepaid system of brokerage for the share trading in which it provides the lowest form of brokerage charged from an investor. Page | 18
  19. 19. Trading Plans Offered By Reliance Money TRAINING AND DEVELOPMENT Page | 19
  20. 20. Introduction The duration of my project was of two months during these two months I did many things regarding my project as I was also the part of operations I also understands how the operations department works at Reliance money. How the shares of the client are kept in electronic form in the client’s account and how it is dematerialized by operations department at Reliance money. TRAINING AND DEVELOPMENTIt is a subsystem of an organization. It ensures that randomness is reduced and learning or behavioral change takes place in structured format. TRADITIONAL AND MODERN APPROACH OF TRAINING AND DEVLOPMENTTraditional Approach – Most of the organizations before never used to believe in training. They were holding the traditional view that managers are born and not made. There were also some views that training is a very costly affair and not worth. Organizations used to believe more in executive pinching. But now the scenario seems to be changing. The modern approach of training and development is that Indian Organizations have realized the importance of corporate training. Training is now considered as more of retention tool than a cost. The training system in Indian Industry has been changed to create a smarter workforce and yield the best results. Page | 20
  21. 21. TRAINING DEFINEDIt is a learning process that involves the acquisition of knowledge, sharpening of skills, concepts, rules, or changing of attitudes and behaviors to enhance the performance of employees. Training is activity leading to skilled behavior: • It’s not what you want in life, but it’s knowing how to reach it • It’s not where you want to go, but it’s knowing how to get there • It’s not how high you want to rise, but it’s knowing how to take off • It may not be quite the outcome you were aiming for, but it will be an outcome • It’s not what you dream of doing, but it’s having the knowledge to do it • It's not a set of goals, but it’s more like a vision • It’s not the goal you set, but it’s what you need to achieve it • Training is about knowing where you stand (no matter how good or bad the current situation looks) at present, and where you will be after some point of time. • Training is about the acquisition of knowledge, skills, and abilities (KSA) through professional development. Importance of Training and Development Page | 21
  22. 22. • Optimum Utilization of Human Resources – Training and Development helps in optimizing the utilization of human resource that further helps the employee to achieve the organizational goals as well as their individual goals. • Development of Human Resources – Training and Development helps to provide an opportunity and broad structure for the development of human resources’ technical and behavioral skills in an organization. It also helps the employees in attaining personal growth. • Development of skills of employees – Training and Development helps in increasing the job knowledge and skills of employees at each level. It helps to expand the horizons of human intellect and an overall personality of the employees Productivity – Training and Development helps in increasing the productivity of the employees that helps the organization further to achieve its long-term goal • Team spirit – Training and Development helps in inculcating the sense of team work, team spirit, and inter-team collaborations. It helps in inculcating the zeal to learn within the employees • Organization Culture – Training and Development helps to develop and improve the organizational health culture and effectiveness. It helps in creating the learning culture within the organization. • Organization Climate – Training and Development helps building the positive perception and feeling about the organization. The employees get these feelings from Page | 22
  23. 23. leaders, subordinates, and peers. • Quality – Training and Development helps in improving upon the quality of work • Healthy work-environment – Training and Development helps in creating the healthy working environment. It helps to build good employee, relationship so that individual goals aligns with organizational goal. • Health and Safety – Training and Development helps in improving the health and safety of the organization thus preventing obsolescence. • Morale – Training and Development helps in improving the morale of the work force. • Image – Training and Development helps in creating a better corporate image. • Profitability – Training and Development leads to improved profitability and more positive attitudes towards profit orientation. • Training and Development aids in organizational development i.e. Organization gets more effective decision making and problem solving. It helps in understanding and carrying out organizational policies. • Training and Development helps in developing leadership skills, motivation, loyalty, better attitudes, and other aspects that successful workers and managers usually display. Page | 23
  24. 24. TRAINING AND DEVELOPMENT OBJECTIVES The principal objective of training and development division is to make sure the availability of a skilled and willing workforce to an organization. In addition to that, there are four other objectives: Individual, Organizational, Functional, and Societal. Individual Objectives – help employees in achieving their personal goals, which in turn, enhances the individual contribution to an organization. Organizational Objectives – assist the organization with its primary objective by bringing individual effectiveness. Functional Objectives – maintain the department’s contribution at a level suitable to the organization’s needs. Societal Objectives – ensure that an organization is ethically and socially responsible to the needs and challenges of the society. Importance of Training Objectives Training objective is one of the most important parts of training program. While some people think of training objective as a waste of valuable time. The counterargument here is that resources are always limited and the training objectives actually lead the design of training. It provides the clear guidelines and develops the training program in less time because objectives focus specifically on needs. It helps in adhering to a plan. Training objectives tell the trainee that what is expected out of him at the end of the training program. Training objectives are of great significance from a number of stakeholder Page | 24
  25. 25. perspectives. 1. Trainer 2. Trainee 3. Designer 4. Evaluator Trainer – The training objective is also beneficial to trainer because it helps the trainer to measure the progress of trainees and make the required adjustments. Also, trainer comes in a position to establish a relationship between objectives and particular segments of training. Trainee – The training objective is beneficial to the trainee because it helps in reducing the anxiety of the trainee up to some extent. Not knowing anything or going to a place which is unknown creates anxiety that can negatively affect learning. Therefore, it is important to keep the participants aware of the happenings, rather than keeping it surprise. Secondly, it helps in increase in concentration, which is the crucial factor to make the training successful. The objectives create an image of the training program in trainee’s mind that actually helps in gaining attention. Thirdly, if the goal is set to be challenging and motivating, then the likelihood of achieving those goals is much higher than the situation in which no goal is Set. Therefore, training objectives helps in increasing the probability that the participants Page | 25
  26. 26. will be successful in training. Designer – The training objective is beneficial to the training designer because if the designer is aware what is to be achieved in the end then he’ll buy the training package according to that only. The training designer would then look for the training methods, training equipments, and training content accordingly to achieve those objectives. Furthermore, planning always helps in dealing effectively in an unexpected situation. Consider an example; the objective of one training program is to deal effectively with customers to increase the sales. Since the objective is known, the designer will design a training program that will include ways to improve the interpersonal skills, such as verbal and non verbal language, dealing in unexpected situation i.e. when there is a defect in a product or when a customer is angry. Therefore, without any guidance, the training may not be designed appropriately. Evaluator – It becomes easy for the training evaluator to measure the progress of the trainees because the objectives define the expected performance of trainees. Training objective is an important to tool to judge the performance of participants. Training and Human Resource ManagementThe HR functioning is changing with time and with this change, the relationship between the training function and other management activity is also changing. The training and development activities are now equally important with that of other HR functions. Gone are the days, when training was considered to be futile, waste of time, resources, and money. Now-a-days, training is an investment because the departments such as, marketing & sales, HR, production, finance, etc depends on training for its survival. If training is not considered as a priority or not seen as a vital part in the organization, then it is difficult to accept that such a company has effectively carried out HRM. Training Page | 26
  27. 27. actually provides the opportunity to raise the profile development activities in the organization To increase the commitment level of employees and growth in quality movement (concepts of HRM), senior management team is now increasing the role of training. Such concepts of HRM require careful planning as well as greater emphasis on employee development and long term education. Training is now the important tool of Human Resource Management to control the attrition rate because it helps in motivating employees, achieving their professional and personal goals, increasing the level of job satisfaction, etc. As a result training is given on a variety of skill development and covers a multitude of courses. Role of HRD Professionals in TrainingThis is the era of cut-throat competition and with this changing scenario of business; the role of HR professionals in training has been widened. HR role now is: 1. Active involvement in employee education 2. Rewards for improvement in performance 3. Rewards to be associated with self esteem and self worth 4. Providing pre-employment market oriented skill development education and post employment support for advanced education and training 5. Flexible access i.e. anytime, anywhere training. Page | 27
  28. 28. Models of Training Training is a sub-system of the organization because the departments such as, marketing & sales, HR, production, finance, etc depends on training for its survival. Training is a transforming process that requires some input and in turn it produces output in the form of knowledge, skills, and attitudes (KSAs). THE TRAINING SYSTEMA System is a combination of things or parts that must work together to perform a particular function. An organization is a system and training is a sub system of the organization. The System Approach views training as a sub system of an organization. System Approach can be used to examine broad issues like objectives, functions, and aim. It establishes a logical relationship between the sequential stages in the process of training need analysis (TNA), formulating, delivering, and evaluating. There are 4 necessary inputs i.e. technology, man, material, time required in every system to produce products or services. And every system must have some output from these inputs in order to survive. The output can be tangible or intangible depending upon the organization’s requirement. A system approach to training is planned creation of training program. This approach uses step-by-step procedures to solve the problems. Under systematic approach, training is undertaken on planned basis. Out of this planned effort, one such basic model of five steps is system model that is explained below. Page | 28
  29. 29. Organization are working in open environment i.e. there are some internal and external forces, that poses threats and opportunities, therefore, trainers need to be aware of these forces which may impact on the content, form, and conduct of the training efforts. The internal forces are the various demands of the organization for a better learning environment; need to be up to date with the latest technologies. The three model of training are: 1. System Model 2. Instructional System Development Model 3. Transitional model System Model Training The system model consists of five phases and should be repeated on a regular basis to make further improvements. The training should achieve the purpose of helping employee to perform their work to required standards. The steps involved in System Model of training are as follows: 1. Analyze and identify the training needs i.e. to analyze the department, job, 2. employees requirement, who needs training, what do they need to learn, estimating training cost, etc The next step is to develop a performance measure on the basis of which actual performance would be evaluated. 3. Design and provide training to meet identified needs. This step requires developing objectives of training, identifying the learning steps, sequencing and structuring the contents. Page | 29
  30. 30. 4. Develop- This phase requires listing the activities in the training program that will assist the participants to learn, selecting delivery method, examining the training material, validating information to be imparted to make sure it accomplishes all the goals & objectives. 5. Implementing is the hardest part of the system because one wrong step can lead to the failure of whole training program. 6. Evaluating each phase so as to make sure it has achieved its aim in terms of subsequent work performance. Making necessary amendments to any of the previous stage in order to remedy or improve failure practices. Instructional System Development Model(ISD)Model Instructional System Development model was made to answer the training problems. • This model is widely used now-a-days in the organization because it is concerned with Page | 30
  31. 31. the training need on the job performance. • Training objectives are defined on the basis of job responsibilities and job description and on the basis of the defined objectives individual progress is measured. This model also helps in determining and developing the favorable strategies, sequencing the content, and delivering media for the types of training objectives to be achieve. The Instructional System Development model comprises of five stages: 1. ANALYSIS – This phase consist of training need assessment, job analysis, and target audience analysis. 2. PLANNING – This phase consist of setting goal of the learning outcome, instructional objectives that measures behavior of a participant after the training, types of training material, media selection, methods of evaluating the trainee, trainer and the training program, strategies to impart knowledge i.e. selection of content, sequencing of content, etc. 3. DEVELOPMENT – This phase translates design decisions into training material. It consists of developing course material for the trainer including handouts, workbooks, visual aids, demonstration props, etc, course material for the trainee including handouts of summary. 4. EXECUTION – This phase focuses on logistical arrangements, such as arranging speakers, equipments, benches, podium, food facilities, cooling, lighting, parking, and other training accessories. 5. EVALUATION – The purpose of this phase is to make sure that the training Page | 31
  32. 32. program has achieved its aim in terms of subsequent work performance. This phase consists of identifying strengths and weaknesses and making necessary amendments to any of the previous stage in order to remedy or improve failure practices. The ISD model is a continuous process that lasts throughout the training program. It also highlights that feedback is an important phase throughout the entire training program. In this model, the output of one phase is an input to the next phase. Transitional model focuses on the organization as a whole. The outer loop describes the vision, mission and values of the organization on the basis of which training model i.e. inner loop is executed. Vision – focuses on the milestones that the organization would like to achieve after the defined point of time. A vision statement tells that where the organization sees itself few years down the line. A vision may include setting a role mode, or bringing some internal transformation, or may be promising to meet some other deadlines Page | 32
  33. 33. Mission – explain the reason of organizational existence. It identifies the position in the community. The reason of developing a mission statement is to motivate, inspire, and inform the employees regarding the organization. The mission statement tells about the identity that how the organization would like to be viewed by the customers, employees, and all other stakeholders. Values – is the translation of vision and mission into communicable ideals. It reflects the deeply held values of the organization and is independent of current industry environment. For example, values may include social responsibility, excellent customer service, etc. The mission, vision, and values precede the objective in the inner loop. This model considers the organization as a whole. The objective is formulated keeping these three things in mind and then the training model is further implemented. Page | 33
  34. 34. Page | 34
  35. 35. LEARNING AND TRAINING LEARNING AND TRAINING Irrespective of the type or method of training, a trainer has to keep in mind some of the principles of learning or motivation, which would enhance internationalization of what is taught. MotivationPage | 35
  36. 36. A trainee needs to have a desire to learn and benefit from the programme. If the is not interested, or is de-motivated, the learning outcome is going to be insignificant and the company will have spent its money badly. On the other hand, being too intense about learning and outcome may result in setting over ambitious goals for the individual. ReinforcementFollowing on the concept of motivation is that of reinforcement. For learning to take place and be internalized to the desired extent, a trainee is rewarded or given some encouragement. This reinforcement, or the acknowledgement that what has been acquired is desirable, can be either an extrinsic or intrinsic reward-external praise or some tangible reward, or the individual’s feeling of a sense of progress. Current stress is on positive support and helpful behavior, even when mistakes are made. FeedbackDuring the training process, it is useful for the trainee to be told how he is progressing. Several researchers have confirmed that knowledge of results is an effective motivator. Constant and periodic feedback has positive effects on the trainee’s learning. Unless the trainee knows how close his performance comes to the desired standard, he will not have an opportunity to improve. Feedback therefore provides a basis for correcting oneself. Secondly, feedback helps to sustain the trainee’s interest in the task, or in each learning that is taking place, by bringing greater involvement with the learning process. If feedback is to be meaningful, it should follow a learning segment as quickly as possible. Page | 36
  37. 37. Transfer of LearningThe maximum use of training can be made if the trainee is able to transfer his learning to his actual work role. This is possible if identical elements are incorporated in the training situation from the job role, either existing or proposed. The more similar the learning situation is to the job situation, the higher the degree of transfer the trainee can expect, and hence the grater the relevance of the training programme. RepetitionRepetition etches a pattern into our memory, e.g., when one studies for an examination, it is necessary to repeatedly to over ideas so that they can be recalled later. RelevanceRelevance relates to the meaningful fuse of material, which aids learning, e.g., trainers usually explain in the overall purpose of a job to trainees before assigning them a particular task. TRAINING INPUTS There are three basic types of inputs; (i)Skills Page | 37
  38. 38. (ii)Attitude (iii)Knowledge. The primary purpose of training is to establishing a sound relationship is at its best when the workers attitude to the job is right, when the workers knowledge of the job is adequate, and he has developed the necessary skills. Training activities in an industrial organization are aimed at making desired modifications in skills, attitudes and knowledge of employee so that they perform their jobs most efficiently and effectively. BEST TIME TO IMPART TRAINING TO EMPLOYEE 1. New Recruits To The CompanyThese have a requirement for induction into the company as a whole in terms of its business activities and personnel policies and provisions, the terms, conditions and benefits appropriate to the particular employee, and the career and advancement opportunities available. 2. Transferees Within The CompanyThese are people who are moved from one job to another, either within the same work area, i.e. the same department or function, or to dissimilar work under a different management. Under this heading we are excluding promotions, which take people into entirely new levels of responsibility. 3. Promotions- Page | 38
  39. 39. Although similar to the transferee in that there is a new job to be learned in new surroundings, he is dissimilar in that the promotion has brought him to a new level of supervisory or management responsibility. The change is usually too important and difficult to make successfully to permit one to assume that the promotes will pick it up as he goes along and attention has to be paid to training in the tasks and the responsibilities and personal skills necessary for effective performance. 4. New Plant or EquipmentEven the most experienced operator has everything to learn when a computer and electronic controls replace the previous manual and electro-mechanical system on the process plant on which he works. There is no less a training requirement for the supervisors and process management, as well as for technical service production control and others. 5. New ProceduresMainly for those who work in offices in commercial and administrative functions but also for those who we workplace is on the shop floor or on process plant on any occasion on which there is a modification to existing paperwork or procedure for, say the withdrawal of materials from stores, the control of customer credit the approval of expense claims, there needs to be instruction on the change in the way of working in many instances, a note bringing the attention of all concerned the change is assume to be sufficient, but there are cases, such as when total new systems in corporating IT up dates are installed, when more thorough training is needed. Page | 39
  40. 40. 6. New Standards, Rules and PracticesChanges in any one these are likely to be conveyed by printed note or by word of mouth by the manager to his subordinates, and this can be the most satisfaction way of dealing with the change from the point of view of getting those affected to understand their new responsibility. However not all changes under this heading can be left to this sort of handling. Even the simplest looking instruction may be regarded as undesirable or impracticable by whoever has to perform it he may not understand the purpose behind the change and lose confidence in a management which he now believes to be ‘messing about’, or he may understand the purpose and have a better alternative to offer if it is not too late. 7. New Relationship and AuthoritiesThese can arise, as a result of management decisions, in a number of ways. In examples, the recognition of the accounts department can result in a realization of responsibilities between the section leaders of credit control, invoicing and customer records, although there is no movement of staff between the sections (i.e. no transfers). Although the change in work content for each clerk and supervisor is defined clearly for each person in the new procedures, there is nevertheless a need for each person to know where he stands in the new set up, which is responsible for what, and where to direct problems and enquiries as they arise in the future. 8. Maintenance of Standards- We are here concerned with maintenance of standards through training, for it must be remembered that supervision and inspection and qualify control are continuously responsible for standards and exercise their own authorities to this end. Although it is generally agreed Page | 40
  41. 41. that some retraining from time to time, taking varied forms even for the on group of employees, does act as both a reminder and a stimulus, there is not much agreement on the next frequency and form that such retraining should take, of there is as yet little scientific knowledge on this subject which is of much use in industrial situations. 9. The Maintenance of AdaptabilityAgain, whilst there is little scientific study of the loss of ability to learn new skills in those cases where people spend a long time without change, and without the need to learn, there is increasing evidence in current experience to suggest that this is the case in industrial employment. Add, of course, there is the inference arising from the laboratory experiments of psychologists. 10. The Maintenance of Management Skills & Standards - Skills in supervising, employee appraisal, communications, leadership etc are important in all companies. Some of these skills are seen to be critical to major developments in company organization, culture, employee empowerment and so on. Initial training in these skills is not uncommon in the largest companies on appointment into management and supervision. But continuous training and performance monitoring is rare, despite the common knowledge that standards are as varied as human nature. 11. Retirement and Redundancy- Employees of any position in the company who are heading towards retirement will benefit from learning about health, social life, work opportunities money management etc. Internal or external courses are best attended a year or two before retirement date, in a few companies a member of Personnel will act as a counselor as required. Page | 41
  42. 42. BENEFITS OF TRAINING Employees and the organization need to realize the importance of contribution and learning for mutual growth and development. Training is the answer to deal with stagnation stage by constantly updating it in every field. Other benefits of training include:  Hiring appeal: companies that provide training attract a better quality Workforce.  Assessing and addressing any performance deficiency.  Enhancing workforce flexibility. Cross-cultural training is essential for them for better adjustment in the new environment.  Increasing commitment: Training acts as a loyalty booster. Employee motivation is also enhanced when the employee knows that the organization would provide them opportunities to increase their skills and knowledge.  It gives the organization a competitive edge by keeping abreast of the latest changes; it acts as a catalyst for change.  Higher customer satisfaction and lower support cost results through improved service, increased productivity and greater sufficiency.  Training acts as benchmark for hiring promoting and career planning.  It acts act as a retention tool by motivating employee to the vast opportunities for growth available in an organization. Page | 42
  43. 43. THE EVALUATION OF TRAINING There are a number of expressions used to describe steps taken by management and by training offices at the conclusion of training and during the days or weeks afterwards. These expressions include validation, evaluation, follow-up and implementation, as well as cost benefit, which have appeared in more recent years. We are interested in all of these and have already tackled one of the, implementation, and we start by giving our definitions in order to establish a clearer picture of what each is, and how they relate to each other. Evaluation of training, or, indeed of anything, consists simply of putting a value to it. To evaluate training means undertaking a search for the effect that it has had on the people and the situations, which it influences, and then trying to measure or estimate whether this is advantageous or disadvantageous. We shall see that at the level of pure training there is an evaluation to be made, but that the principal evaluation is at a higher level in the chain. First the chain of intentions is clear at the outset 1. The forecourt attendants were to receive training to a defined level of competence. 2. They were then to apply their new capability correctly during the service that they gave to motorists. 3. The motorists would respond to this with a reaction of pleasure and would tend to use that particular station rather more, thus increasing the amount of gasoline sold. Page | 43
  44. 44. 4. The increased sales, and negligible increased costs, would improve the revenue and the profits. A TRAINING TOOL: INSPIRING OTHERS In the new era new era, challenges for the trainer are to create learning environment. Trainer needs to innovate new ways design and deliver the training inputs. Wide range of technique like interactive methods like teaching, experiential learning cases inventories games, including humour. Where as we have the ancient way of story telling as a powerful tool to create learning for adult managers of industry. Sharing ones own perception, experience and ideas learning value can be increased exponentially. Methods of TrainingThere are various methods of training, which can be divided in to cognitive and behavioral methods. Trainers need to understand the pros and cons of each method, also its impact on trainees keeping their background and skills in mind before giving training. Cognitive methods are more of giving theoretical training to the trainees. The various methods under Cognitive approach provide the rules for how to do something, written or verbal information, demonstrate relationships among concepts, etc. These methods are associated with changes in knowledge and attitude by stimulating learning. The various methods that come under Cognitive approach are: LECTURES – A Method of Training It is one of the oldest methods of training. This method is used to create understanding of a topic or to influence behavior, attitudes through lecture. A lecture can be in printed or Page | 44
  45. 45. oral form. Lecture is telling someone about something. Lecture is given to enhance the knowledge of listener or to give him the theoretical aspect of a topic. Training is basically incomplete without lecture. When the trainer begins the training session by telling the aim, goal, agenda, processes, or methods that will be used in training that means the trainer is using the lecture method. It is difficult to imagine training without lecture format. There are some variations in Lecture method. The variation here means that some forms of lectures are interactive while some are not. Straight Lecture: Straight lecture method consists of presenting information, which the trainee attempts to absorb. In this method, the trainer speaks to a group about a topic. However, it does not involve any kind of interaction between the trainer and the trainees. A lecture may also take the form of printed text, such as books, notes, etc. The difference between the straight lecture and the printed material is the trainer’s intonation, control of speed, body language, and visual image of the trainer. The trainer in case of straight lecture can decide to vary from the training script, based on the signals from the trainees, whereas same material in print is restricted to what is printed. A good lecture consists of introduction of the topic, purpose of the lecture, and priorities and preferences of the order in which the topic will be covered. Main Features of Lecture MethodSome of the main features of lecture method are: • Inability to identify and correct misunderstandings • • • • Less expensive Can be reached large number of people at once Knowledge building exercise Less effective because lectures require long periods of trainee inactivity Page | 45
  46. 46. Demonstration Training Method This method is a visual display of how something works or how to do something. As an example, trainer shows the trainees how to perform or how to do the tasks of the job. In order to be more effective, demonstration method should be should be accompanied by the discussion or lecture method. To carry out an effective demonstration, a trainer first prepares the lesson plan by breaking the task to be performed into smaller modules, easily learned parts. Then, the trainer sequentially organizes those modules and prepares an explanation for why that part is required. While performing the demonstration, trainer: Demonstrates the task by describing how to do, while doing • Helps the focusing their attention on critical aspects of the task • Tells the trainees what you will be doing so they understand what you will be showing them • Explains why it should be carried out in that way The difference between the lecture method and the demonstration method is the level of involvement of the trainee. In the lecture method, the more the trainee is involved. The financial costs that occur in the demonstration method are as follows: • Cost of training facility for the program • • • • • Cost of materials that facilitate training Food, travel, lodging for the trainees and the trainers Compensation of time spent in training to trainers and trainees Cost related to creating content, material Cost related to the organization of the training Page | 46
  47. 47. After completing the demonstration the trainer provide feedback, both positive and or negative, give the trainee the opportunity to do the task and describe what he is doing and why. Discussion Training Method This method uses a lecturer to provide the learners with context that is supported, elaborated, explains, or expanded on through interactions both among the trainees and between the trainer and the trainees. The interaction and the communication between these two make it much more effective and powerful than the lecture method. If the Discussion method is used with proper sequence i.e. lectures, followed by discussion and questioning, can achieve higher level knowledge objectives, such as problem solving and principle learning. • The Discussion method consists a two-way flow of communication i.e. knowledge inthe form of lecture is communicated to trainees, and then understanding is conveyed back by trainees to trainer. • Understanding is conveyed in the form of verbal and non-verbal feedback that enables the trainer to determine whether the material is understood. If yes, then definitely it would help out the trainees to implement it at their workplaces and if not, the trainer may need to spend more time on that particular area by presenting the information again in a different manner. • Questioning can be done by both ways i.e. the trainees and the trainer. When the trainees ask questions, they explain their thinking about the content of the lecture. A trainer who Page | 47
  48. 48. asks questions stimulates thinking about the content of the lecture. Asking and responding questions are beneficial to trainees because it enhance understanding and keep the trainees focused on the content. Besides that, discussions, and interactions allow the trainee to be actively engaged in the material of the trainer. This activity helps in improving recall. Computer-Based Training (CBT) With the world-wide expansion of companies and changing technologies, the demands for knowledge and skilled employees have increased more than ever, which in turn, is putting pressure on HR department to provide training at lower costs. Many organizations are now implementing CBT as an alternative to classroom based training to accomplish those goals Some of the benefits of Computer-Based Training are: Page | 48
  49. 49. According to a recent survey, about 75% of the organizations are providing training to employees through Intranet or Internet. Internet is not the method of training, but has become the technique of delivering training. The growth of electronic technology has created alternative training delivery systems. CBT does not require face-to-face interaction with a human trainer. This method is so varied in its applications that it is difficult to describe in concise terms. The various methods that come under Cognitive approach are : o INTELLEGENT TUTORIAL SYSTEM(ITS) o o PROGRAMMED INSTRUCTION (PI) VIRTUAL REALITY Behavioral methods are more of giving practical training to the trainees. The various methods under Behavioral approach allow the trainee to behavior in a real fashion. These methods are best used for skill development. The various methods that come under Behavioral approach are:  GAMES AND SIMULATIONS o o o o o o BEHAVIOR-MODELING BUSINESS GAMES CASE STUDIES EQUIPMENT STIMULATORS IN-BASKET TECHNIQUE ROLE PLAYS Both the methods can be used effectively to change attitudes, but through different means. Another Method is MANAGEMENT DEVELOPMENT METHOD – COACHING Page | 49
  50. 50. Coaching is one of the training methods, which is considered as a corrective method for inadequate performance. According to a survey conducted by International Coach Federation (ICF), more than 4,000 companies are using coach for their executives. These coaches are experts most of the time outside consultants. A coach is the best training plan for the CEO’s because  It is one-to-one interaction  It can be done at the convenience of CEO  It can be done on phone, meetings, through e-mails, chat  It provides an opportunity to receive feedback from an expert  It helps in identifying weaknesses and focus on the area that needs improvement This method best suits for the people at the top because if we see on emotional front, when a person reaches the top, he gets lonely and it becomes difficult to find someone to talk to. It helps in finding out the executive’s specific developmental needs. The needs can be identified through 60 degree performance review. PROCEDURE OF THE COACHINGThe procedure of the coaching is mutually determined by the executive and coach. Theprocedure is followed by successive counseling and meetings at the executive’s convenience by the coach. 1. Understand the participant’s job, the knowledge, skills, and attitudes, and resources required to meet the desired expectation 2. Meet the participant and mutually agree on the objective that has to be achieved Page | 50
  51. 51. 3. Mutually arrive at a plan and schedule 4. At the job, show the participant how to achieve the objectives, observe the performance and then provide feedback 5. Repeat step 4 until performance improves. For the people at middle-level management, coaching is more likely done by the supervisor; however experts from outside the organization are at times used for upand-coming managers. Again, the personalized approach assists the manger focus on definite needs and improvement Mentoring Mentoring is an ongoing relationship that is developed between a senior and junior employee. Mentoring provides guidance and clear understanding of how the organization goes to achieve its vision and mission to the junior employee. The meetings are not as structured and regular than in coaching. Executive mentoring is generally done by someone inside the company. The executive can learn a lot from mentoring. By dealing with diverse mentee’s, the executive is given the chance to grow professionally by developing management skills and learning how to work with people with diverse background, culture, and language and personality types. Executives also have mentors. In cases where the executive is new to the organization, a senior executive could be assigned as a mentor to assist the new executive settled into his role. Mentoring is one of the important methods for preparing them to be future executives. This method allows the mentor to determine what is required to improve mentee’s performance. Once the mentor identifies the problem, weakness, and the area that needs to be worked upon, the mentor can advise relevant training. The mentor can Page | 51
  52. 52. also provide opportunities to work on special processes and projects that require use of proficiency. Some key points on Mentoring • Mentoring focus on attitude development • • • Conducted for management-level employees Mentoring is done by someone inside the company It is one-to-one interaction It helps in identifying weaknesses and focus on the area that needs improvement Job Rotation For the executive, job rotation takes on different perspectives. The executive is usually not simply going to another department. In some vertically integrated organizations, for example, where the supplier is actually part of same organization or subsidiary, job rotation might be to the supplier to see how the business operates from the supplier point of view. Learning how the organization is perceived from the outside broadens the executive’s outlook on the process of the organization. Or the rotation might be to a foreign office to provide a global perspective. For managers being developed for executive roles, rotation to different functions in the company is regular carried out. This approach allows the manger to operate in diverse roles and understand the different issues that crop up. If someone is to be a corporate leader, they must have this type of training. A recent study indicated that the single most significant factor that leads to leader’s achievement was the variety of experiences in different departments, business units, cities, and countries. An organized and helpful way to develop talent for the management or executive level of the organization is job rotation. It is the process of preparing employees at a lower level to Page | 52
  53. 53. replace someone at the next higher level. It is generally done for the designations that are crucial for the effective and efficient functioning of the organization. Benefits of Job RotationSome of the major benefits of job rotation are: • It provides the employees with opportunities to broaden the horizon of knowledge, skills, and abilities by working in different departments, business units, functions, and countries • Identification of Knowledge, skills, and attitudes (KSAs) required • • It determines the areas where improvement is required Assessment of the employees who have the potential and caliber for filling the position OFF THE JOB TRAINING There are many management development techniques that an employee can take in off the job. The few popular methods are:  SENSITIVITY TRAINING    TRANSACTIONAL ANALYSIS STRAIGHT LECTURES/ LECTURES SIMULATION EXERCISES Training Need Analysis (TNA) An analysis of training need is an essential requirement to the design of effective training. The purpose of training need analysis is to determine whether there is a gap between what is required for effective performance and present level of performance. • Why training need analysis? Training need analysis is conducted to determine whether resources required are Page | 53
  54. 54. available or not. It helps to plan the budget of the company, areas where training is required, and also highlights the occasions where training might not be appropriate but requires alternate action. Corporate need and training need are interdependent because the organization performance ultimately depends on the performance of its individual employee and its sub group. Organizational Level – Training need analysis at organizational level focuses on strategic planning, business need, and goals. It starts with the assessment of internal environment of the organization such as, procedures, structures, policies, strengths, and weaknesses and external environment such as opportunities and threats. After doing the SWOT analysis, weaknesses can be dealt with the training interventions, while strengths can further be strengthened with continued training. Threats can be reduced by identifying the areas where training is required. And, opportunities can be exploited by balancing it against costs. For this approach to be successful, the HR department of the company requires to be involved in strategic planning. In this planning, HR develops strategies to be sure that the employees in the organization have the required Knowledge, Skills, and Page | 54
  55. 55. Attributes (KSAs) based on the future KSAs requirements at each level Individual Level – Training need analysis at individual level focuses on each and every individual in the organization. At this level, the organization checks whether an employee is performing at desired level or the performance is below expectation. If the difference between the expected performance and actual performance comes out to be positive, then certainly there is a need of training. However, individual competence can also be linked to individual need. The methods that are used to analyze the individual need are: • Appraisal and performance review • Peer appraisal • Competency assessments • Subordinate appraisal • Client feedback • Customer feedback • Self-assessment or self-appraisal Operational Level – Training Need analysis at operational level focuses on the work that is being assigned to the employees. The job analyst gathers the information on whether the job is clearly understood by an employee or not. He gathers this information through technical interview, observation, psychological test; questionnaires asking the closed ended as well as open ended questions, etc. Today, jobs are dynamic and keep changing over the time. Employees need to prepare for these changes. The job analyst also gathers information on the tasks needs to be done plus the tasks that will be required in the future. Based on the information collected, training Need analysis (TNA) is done. Page | 55
  56. 56. Training-Design The design of the training program can be undertaken only when a clear training objective has been produced. The training objective clears what goal has to be achieved by the end of training program i.e. what the trainees are expected to be able to do at the end of their training. Training objectives assist trainers to design the training program. The trainer – Before starting a training program, a trainer analyzes his technical, interpersonal, judgmental skills in order to deliver quality content to trainers The trainees – A good training design requires close scrutiny of the trainees and their profiles. Age, experience, needs and expectations of the trainees are some of the important factors that affect training design. Training climate – A good training climate comprises of ambience, tone, feelings, positive perception for training program, etc. Therefore, when the climate is favorable nothing goes wrong but when the climate is unfavorable, almost everything goes wrong. Trainees’ learning style – the learning style, age, experience, educational background of trainees must be kept in mind in order to get the right pitch to the design of the program Training strategies – Once the training objective has been identified, the trainer translates it into specific training areas and modules. The trainer prepares the priority list of about what must be included, what could be included. Training topics – After formulating a strategy, trainer decides upon the content to be delivered. Trainers break the content into headings, topics, ad modules. These topics and modules are then classified into information, knowledge, skills, and attitudes. Page | 56
  57. 57. Sequence the contents – Contents are then sequenced in a following manner: • From simple to complex • Topics are arranged in terms of their relative importance • From known to unknown • From specific to general • Dependent relationship Training tactics – Once the objectives and the strategy of the training program becomes clear, trainer comes in the position to select most appropriate tactics or methods or techniques. The method selection depends on the following factors: • Trainees’ background • Time allocated • Style preference of trainer • Level of competence of trainer • Availability of facilities and resources, etc Page | 57
  58. 58. Support facilities – It can be segregated into printed and audio visual. The various requirements in a training program are white boards, flip charts, markers, etc. Page | 58
  59. 59. Constraints – The various constraints that lay in the trainers mind are: • Time • Accommodation, facilities and their availability • Furnishings and equipments • Budget • Design of the training, etc Training Implementation To put training program into effect according to definite plan or procedure is called training implementation. Training implementation is the hardest part of the system because one wrong step can lead to the failure of whole training program. Even the best training program will fail due to one wrong action. Training implementation can be segregated into: • Practical administrative arrangements • Carrying out of the training Implementing Training Once the staff, course, content, equipments, topics are ready, the training is implemented. Completing training design does not mean that the work is done because implementation phase requires continual adjusting, redesigning, and refining. Preparation is the most important factor to taste the success. Therefore, following are the factors that are kept in mind while implementing training program: Page | 59
  60. 60. The trainer – The trainer need to be prepared mentally before the delivery of content. Trainer prepares materials and activities well in advance. The trainer also set grounds before meeting with participants by making sure that he is comfortable with course content and is flexible in his approach. Physical set-up – Good physical set up is pre-requisite for effective and successful training program because it makes the first impression on participants. Classrooms should not be very small or big but as nearly square as possible. This will bring people together both physically and psychologically. Also, right amount of space should be allocated to every participant. Establishing rapport with participants – There are various ways by which a trainer can establish good rapport with trainees by: • Greeting participants – simple way to ease those initial tense moments • Encouraging informal conversation • Remembering their first name • Pairing up the learners and have them familiarized with one another • Listening carefully to trainees’ comments and opinions • Telling the learners by what name the trainer wants to be addressed • Getting to class before the arrival of learners • Starting the class promptly at the scheduled time • Using familiar examples • Varying his instructional techniques • Using the alternate approach if one seems to bog down Page | 60
  61. 61. Reviewing the agenda – At the beginning of the training program it is very important to review the program objective. The trainer must tell the participants the goal of the program, what is expected out of trainers to do at the end of the program, and how the program will run. The following information needs to be included: • Kinds of training activities • Schedule • Setting group norms • Housekeeping arrangements • Flow of the program • Handling problematic situations Page | 61
  62. 62. TYPES OF TRAINING METHODS ADOPTED BY RELIANCE MONEY The training methods which are generally used in an organization are classified into two i.e. 1) On the job: On-the-job training places the employees in an actual work situation and makes them appear to be immediately productive. It is learning by doing. For jobs, that either are difficult to simulate or can be learn quickly by watching and doing on-the-job training makes sense. One of the drawbacks to on-the-job training can be low productivity while the employees develop their skills. Another drawback can be the errors made by the trainees while they learn. However, when the damage the trainees can do is minimal, where training facilities and personnel are limited or costly, and where it is desirable for the workers to learn the job under normal working conditions, the benefits of on-the-job training frequently offset its drawbacks. (ii) Job Instruction Training: JIT consists of four basic steps: (a) Preparing the trainees by telling them about the job and over coming their uncertainties (b) Presenting the instruction, giving essential information in a clear manner; (c) Having the trainees try out the job to demonstrate their understanding; and (d) Placing the workers into the job, on their own, with a designated resource person to call upon should they need assistance. 2) Off the job: Off-the-job training covers a number of techniques – classroom lectures, films, demonstrations, case studies and other simulation exercises, and programmed Page | 62
  63. 63. instruction. The facilities needed for each of these techniques vary from a small make shift classroom to an elaborate development center with large lecture halls, supplemented by small conference rooms with sophisticated audiovisual equipment, two-way mirrors, and all the frills. (i) Classroom lectures/conferences: The lecture or conference approach is well adapted to conveying specific information – rules, procedures, or methods. The use of audiovisuals or demonstrations can often make a formal classroom presentation more interesting while increasing retention and offering a vehicle for more interesting while increasing retention and offering a vehicle for clarifying more difficult points. The lecture’s liabilities include possible lack of feedback and the lack of active involvement by the trainees. (ii) Simulation exercises: Any training activity that explicitly places the trainee in an artificial environment that closely mirrors actual working conditions can be considered a simulation. Simulation activities include case exercises, experimental exercises, complex computer modeling, and vestibule training. (iii)Vestibule training: In vestibule training, employees learn their jobs on the equipment they will be using, but the learning is conducted away from the actual work floor. In the 1980s many large retail chains train cashiers on their new computer cash registers – which are much more complex because they control inventory and perform other functions in addition to ringing up orders – in specially created vestibule labs that simulated the actual checkout-counter environment. Page | 63
  64. 64. Training, as a process of long tem learning is essentially a developmental tool.. By effectively utilizing this tool, the organization expects to achieve career objectives. Contribute towards the career progressions of the employees by importing  knowledge of an additional or reinforcing nature, developing skills and bringing about desired attitudinal changes among them. This would not merely prove effective in assisting them to achieve organizational goals but also enable enhancement of their self esteem and self confidences to face external challenges.  Ours is a changing and dynamic organization which has to pay considerable emphasis on training and retraining its employees to enable them to be competent, committed and has the capacity to change according to the external and internal demands and pressures. Training of employees is not merely the responsibility of the management or the training cell alone, but the responsibility of department managers as well. The human resource department must enable the involvement of the department managers in the process of employee training and development. ASSESSMENT OF TRAINING NEEDS There are five steps towards the assessment and analysis of training and development of the organization.  Collection of information through interviewing and discussing with key personnel both inside and outside the organization or specific departments; observing the work place, working conditions, processes and outcomes; examining records, other written information and annual employee appraisal. Page | 64
  65. 65.  Compare performances of each department and each employee against objectives, targets and standards set for them and keeping in mind future work requirements in the organization.  Identify cause of problems faced by the organization to enable the management to train the employees in handling the problems as well as solving the problem in a satisfactory manner.  Segregate identified problems into problems requiring staff development action such as training and into problems requiring other management actions, so that these problems are accurately addressed.  Prioritize training actions in accordance to where the training need is more urgent. Page | 65
  66. 66. Questionnaire on Study on Effectiveness of Training & Development An organization has a very close relationship with the trainee and the trainer because it is the first contact for both. The demand for the training in the organization increases when the organization wants: • To hire new people – training as a means of training new recruits • To Expand – When the company wants to increase its headcount • To increase certain number of staff (in position) by a certain date • To enhance the performance of employees • Organization’s name to be a part of training unit. Demand for training also increases when there is change in the nature of job, change in taste of consumer, change in methods of product development, etc. The organization goes through the following steps for the transfer of training to the field. Page | 66
  67. 67. Trainee – Role of Trainee in Transfer of Training But the problem arises when the organization outsource the training process. In this situation the organization assumes that the trainer must be aware of the type of training need s of the participants and their organization and their content will meet those needs. This leads to failure of the program, which results in collusion. Therefore, it’s a foremost duty of the organization to make the trainer and their organization aware of their culture, climate, responsibilities of organization, etc. The trainee is a major stakeholder in a training program. The whole training program is developed for the trainees only. Each candidate plays an important role in the transfer of training because one participant’s attitude regarding the training influence the other participants and also each participant can assist by advancing the learning process to Page | 67
  68. 68. realize the training objectives. Participant’s willingness to invest in the program is directly proportional to the benefits of the learning that the trainee could expect. Each participant forms their own perception towards training. Some perceptions remain the same during the program, while some faded depending upon the assessment of a program by the participant Some personal factors that affect the trainee’s learning are: • Family Situation • Personal Problems • Relation between the training program and personal objective • Level of self esteem • Benefits expected from training • Comfort level with the trainer • Learning style of trainee • KSA of trainee • Previous training experiences • Desire for professional growth and development Some environmental factors that affect the trainee’s learning are: • Relationship with colleagues and subordinates • Training team • Trainer team • Training objective • Content of training Page | 68
  69. 69. • Training design i.e. methods, techniques, and strategies • Environment in the program • Composition of training group • Infrastructure i.e. eating facilities, tea/coffee breaks No matter how good the training program is, in the end it is the participant only who decides whether to change his behavior or not. Trainees do not change their behavior merely because someone tells them to do. They change when they feel there is a need of it. They do it with their own learning style. The trainer and the organization can only try to remove the mental blocks of the trainee, rest depends on trainee itself. Importance of Trainer, Role of Trainer The effective transfer of training depends a lot on the trainer because it is the trainer only who can remove the mental block of trainee, motivate the trainee to learn, delete the negative perception of the trainee regarding the training. Besides all that, a lot depends on personality of trainer also. The major competencies that are required to be present in a trainer are: • Presentation Skills • Business Skills i.e. budgeting, time management, negotiation, etc. • Content Development i.e. material production, graphics, layouts, etc • Self development i.e. interpersonal skills, good listening skills, flexible, Trainer’s Skills- The skills that need to be present in a trainer are: • Training Design Page | 69
  70. 70. • Evaluating the training program • Training need analysis • Worksheet design • Exercises design ROLE OF TRAINER Facilitation Of Training Facilitation of Transfer of Training through Focus on Trainee and Organization : • Intervention • Focus on Trainee • Focus on Organization Intervention • Focus on Trainee Training is successful not only with good training design and training objectives but also with the readiness and willingness of the trainees. For the training to be successful, three things are required, 1. Motivation Page | 70
  71. 71. 2. Knowledge, Skills, and Attitudes (KSAs) 3. Expectations towards Training Expected Performance is directly proportional to the multiplication of motivation, required KSAs, and expectations towards training i.e. Motivation – If the trainee is not motivated to learn, no learning is likely to occur no matter how good the training methods are, or how talented the trainees are. Therefore, it is important to intervene before training and provide them the information about the learning outcome that they can expect and how the learning outcome will help in achieving the objectives. This increases the motivation to learn and to be successful in training. Expectations – Positive expectations matter a lot in a training program. If the trainee perceives the training as waste of time, and waste of resources, no learning is likely to occur. No learning is possible with negative perception. On the other hand, if the trainee believes and expects that the training would help him to improve upon his professional skills and would further help him in achieving his personal goals, the probability of training to meet the objective increases. Knowledge, Skills, and Attitudes (KSAs) – It is important that the selected trainees should have the right KSAs for the training because even if the methods and contents of the training is good but the candidates do not have the right KSAs, Page | 71
  72. 72. the training program will fail. Also the training methods would not be effective if the candidates are lacking the desired skills. Therefore, proper selection technique is must that would ensure that hired have the requisite KSAs to be successful in training. Facilitation of Training Through Organization Intervention Failure of training is not always because of lack of KSAs but sometimes it is because of the organizational forces also. These forces also hold back the transfer of training, and learning. Therefore, it is important to keep in check those forces. For the successful transfer of training, it is necessary to have supervisor support, trainer support, peer support, reward system, climate and culture. PEERS SUPPORT – Peer support can also help in transfer of training, for example, if the trainee is the only one who is receiving training in the department then probably the experienced peers might put pressure on trainee to forget the training and work. This situation also hampers in transfer of training. However, this situation can be avoided by involving the entire department in training, Page | 72
  73. 73. also by encouraging the learning culture in the organization. SUPERVISOR SUPPORT – can affect their employees’ learning in number of ways, for example, if the trainee is motivated to learn and receives full support from their supervisor, then this support in turn encourages the employee to learn as much as possible. Also, supervisor can also reduce the negative factors of training, such as, the work that piles up during training that makes the employee uncomfortable and employees’ negative perception about the training program. TRAINER SUPPORT – can also have a positive impact on the transfer of training. Gone are the days, when the trainers’ role used to get over once the training program is done. Trainers’ role is now extended to the work place also. Besides training, trainer’s role is to keep a check on how trainees are performing and help them and discuss with them if they encounter any problem in the Page | 73
  74. 74. workplace. CLIMATE – Apart from supervisor support, peers support, trainer support, Climate factor also comprises of company polices, attitude of upper management towards employee, towards training. If these factors are positive then the climate will also support the transfer of training. It is the organizations foremost duty to make the employees realize through these factors that adequate amount of time and resources are spent on them for their professional and personal development. CULTURE – also have the impact over the transfer of training. If the culture of the organization provides enough opportunities to its employees to implement what they have learnt in the workplace and provide them variety of others factors such as, social support, challenging jobs, etc then the likelihood of the transfer of training increases. Page | 74
  75. 75. NEW ELECTRONIC TECHNOLOGIES IN TRAINING 1) Interactive computer video technology: The use of computers and videotapes in the field of training is now well established. Some leading institution like MANAGE, Hyderabad is using this technology in training programme. 2) Broadcast television / cable television: Televisions system in which programme is sent out by radio wave and are seen on television. Indira Gandhi National Open University (IGNOU) is very well using this technology its educational and training programme. 3) Computer aided instruction: An educational concept which places the student in a conversational mode with a computer which has programmed study plan. The programmed course selects the next topic or phase of study according to previous responses from the student allowing each student to progress at pace directly to his or her learning capability. 4) Interactive video /interactive compute: The phrase ‘interactive video’ refers to a video programme with which user (trainee) can interact. Interactivity takes place between user and the system, some thing for IC also, the system composed of four basic components (1) monitor or video display unit (2) video tape or video disc Page | 75
  76. 76. (3) a computer (4) a disc drive, the computer controls the video or video disc. Disc drive loads a programme into the computer. 5) Tele-conferencing: A two way audio and one way video system. It is used nowadays by many institutions for education and training purpose. TRAINING EFFECTIVENESS Cutting edge of competition today demands every organization, to measure its activities in terms of effectiveness, efficiency, excellence (triple E). To achieve this triple C a lot of investment is made by the organization but the sword of sure short success hangs on the head of the HRD manager, this is because he has to handle the most complex resource i.e. human resource. The next toughest thins is to maintain is the ROI (return on investment) of training and development. It is not only the ROI but the performance management, retention level, motivation, morale, creativity, innovation conflicts, loyalty and commitment etc. of the manpower which are not easy to handle. Keeping all these factors in mind the focus of vision falls on training and development. The training effectiveness is obviously in terms of enhanced skill and knowledge to achieve the present goals, through the increased learnt behavior. In the process of training effectiveness is the most important /vital area, where by the individual and organizational goals are integrated to bring about the desired performance levels. How to reduce the gap? Page | 76
  77. 77. RESEARCH METHODOLOGY Page | 77
  78. 78. Research Methodology Statement of the problem To understand the perception and behaviuor of investors and potential investors this study has been conducted. In addition, attitude of investors towards Reliance Money has also been considered. So, research has been carried on the title “A study on trading behavior of investors at Reliance Money” Need of the study The need of the study arises because of the reason that a trainee must understand the company, its achievements and tasks, products and services and also to collect information about its competitors. But the major focus was on making a customer profile for Reliance Money and study the position of Reliance Money in the market as well as among its competitors. In addition, investors were to be made aware about various products and services offered by Reliance Money and checking the satisfaction level of present customers Objectives of the study • To create awareness about the products offered by Reliance Money in the Market • To know about the investment preference or style of investors • To know about the awareness of demat account Page | 78
  79. 79. • To collect the real time information about preference level of customers using Demat account and their inclination towards various other brokerage firms e.g. Reliance Money, ICICI, Religare, Angel , Unicon, Sharekhan etc. • As an intern at Reliance Money, to know about response of investors towards Reliance Money • To know about the awareness of Reliance Money as a brand and services offered • To know about the availability of Reliance Money Franchisee Sources of Data (Primary & Secondary) In this project work primary and secondary data sources of data has been used. Primary dataPrimary data is collected through observation, or through direct communication or doing experiments. Under this, Survey method has been used. For this report primary data was collected by personal interview with investors and potential investors in different areas of Lucknow. Secondary dataSecondary data refers to existing primary data that was collected by someone else or for a purpose other than the current one. It means already available through books, journals , magazines ,newspaper, websites. Page | 79
  80. 80. Data has been collected through various websites the list of which has been given in the end of report Research Method or type of study The Research method used is descriptive research. Descriptive research, also known as statistical research, describes data and characteristics about the population or phenomenon being studied. Descriptive research answers the questions who, what, where, when and how. In the present Research I have collected data through Survey of 50 respondents Sampling plan Sample unit The sampling units are various areas of Lucknow which have been approached to collect data from different people Sampling method Sampling method used in this research is simple random sampling which is also known as probability sampling. Under this sampling design every item of universe has an equal chance of inclusion in sample. It is say to a lottery method. Sample size Page | 80
  81. 81. The size of the sample was restricted to 50, as to just get a quick analysis Contact Method Personal interview is used as a method of contacting people. It is a market research technique for gathering information through face-to-face contact with individuals. Personal interviews take place in a variety of settings-in homes, at shopping malls, in a business office. This type of research is relatively costly, because it requires a staff of interviewers, but it provides the best opportunity to obtain information through probing for clearer explanations. It is the best technique to use early on in the research process when the researcher is not yet sure which questions need to be asked, because new and better questions can come out of the dialogue Data collection method Research Instrument used in this research was Questionnaire. A questionnaire is a formalized set of questions for eliciting information. It is one of the most common instruments used for primary data collection. The questionnaire can be administered in various ways. It can be administered by means of a personal interviewer as well as by the telephone, Mail. Here, the questionnaire was administered by a personal interview Tools of analysis Page | 81
  82. 82. For the proper analysis of data, Quantitative Technique such as percentage method was used. In addition, Microsoft excel was also used for preparing charts for deducing inferences. . DATA ANALYSIS Page | 82
  83. 83. DATA ANALYSIS AND INTERPRETATIONS Q1.Your Organization considers training as a part of organizational strategy. Do you agree with this statement? Response No. Of Respondants Percentage Agree 13 52 Disagree 1 4 Partly Agree 4 16 Can’t Say 7 28 Total 25 100 Page | 83
  84. 84. Interpretation:The above graph indicates that Organization considers training as a part of organizational strategy. Q 2. How many training programmes will you attend in a year? Response No. of respondants Percentage Less than 10 14 56 10 - 20 2 8 20 – 40 6 24 More than 40 3 12 Total 25 100 INTERPRETATION:Page | 84
  85. 85. The above chart indicates that less training programmes are held in the organization. Q 3. To whom the training is given more in your organization? Response No. of respondants Percentage Senior staff 3 12 Junior staff 5 20 New staff 6 24 Based on requirement 13 52 Total 25 100 INTERPRETATION:Training is provided on the basis of requirement. Page | 85
  86. 86. Q 4. What are all the important barriers to Training and Development in your organization? Response No. of respondants Percentage Time 5 20 Money 4 16 Lack of interest by staff 6 24 Non-availability of skilled trainer Total 10 40 25 100 INTERPRETATION:Page | 86
  87. 87. The above graph indicates that the important barriers to Training and Development in the organization is Non-availability of skilled trainers. Q 5. Enough practice is given for us during training session? Do you agree with this statement? Respondants No. of respondants Percentage Strongly Agree 14 56 Agree 2 8 Somewhat agree 6 24 Disagree 3 12 Total 25 100 INTERPRETATION:This graph indicates that enough practice is given for employees during training sessions. Page | 87
  88. 88. Q6. The training sessions conducted in your organization is useful. Do you agree with this statement? Respondants No. of respondants Percentage Strongly agree 15 60 Agree 5 20 Somewhat 5 20 Disagree 0 0 Total 25 100 INTERPRETATION:The above graph indicates that the training sessions conducted in the organization is useful. Page | 88
  89. 89. Q7. Employees are given appraisal in order to motivate them to attend the training. Do u agree with this statement? Respondants No. of respondants Percentage Strongly Agree 14 56 Agree 6 24 Somewhat 3 12 Disagree 2 8 Total 25 100 INTERPRETATION:- Page | 89
  90. 90. The above graph shows that Employees are given appraisal in order to motivate them to attend the training. Q8. What are the skills that the trainer should possess to make the training effective? Respondants No. of respondants Percentage Technical skills 8 32 People skills or Soft skills 6 24 Generalist makes better Personnel managers than Specialist Fond of talking to people 6 24 5 20 Total 25 100 INTERPRETATION:Page | 90
  91. 91. The above graph indicates that the trainer should possess technical skills to make the training effective Q9. What are the general complaints about the training session? Respondants No. of respondants Percentage Take away precious time of employees Too many gaps between the sessions Training sessions are unplanned Boring and not useful 4 25 10 40 6 15 5 20 Total 25 100 INTERPRETATION:Page | 91
  92. 92. The above graph indicates that there are two many gaps between the training sessions. Q10. Reason for shortage of skilled man power at workplace are : Respondats No. of respondants Percentage Lack of planning 5 20 Lack of support from senior staff Lack of proper guidance and training at workplace 10 40 8 32 Lack of quality education at primary and secondary level Total 2 8 25 100 Page | 92
  93. 93. INTERPRETATION:The above graph indicates that reason for shortage of skilled man power at workplace are lack of support from senior staff. Page | 93
  94. 94. FINDINGS 1. The firms follow an effective training process. 2. The training is given to those employees who need it. 3. But the barrier for the training process in the organization is the non-availability of skilled trainers. 4. There are gaps between the training sessions organized by the company that’s why trainees lost touch with that. 5. As the work load is much on employees therefore less attention is given to training sessions by the employees. 6. The Organization also appoints trainers from outside or from different firms to ensure better training to its employees. Page | 94
  95. 95. LIMITATIONS Every scientific study has certain limitations and the present study is no more exception. These are: 1. The terminology used in the subject is highly technical in nature and creates a lot of ambugity. 2. All the secondary data are required were not available. 3. Respondents were found hesitant in revealing opinion about supervisors and management. Page | 95
  96. 96. CONCLUSION & SUGGESTIONS Under noted few suggestions cum conclusion can be taken as for implementation to reap furtherest benefits.  Making training and development process and entirely in house activity to reduce cost.  It is found that the average age group of trainees are in their twenties or early thirties which signifies that the consumer durable industry need more of young blood as enthusiasm is an integral part of the industry.  The maximum emphasis is given to job instruction methods where the trainee are made to understand their job thoroughly and the role they are going to play in performing their job.  Lecture as well as the presentation is the major part of imparting the education and training them.  The training objective are in keeping with needs and abilities of the trainee and it is this that proves to be the major reason for success of the training as whole...  The trainee fill the feedback form and from time to time test are conducted to know the gauge the effectiveness of training to employee to check their memory if they retain anything or not.  We think that time management is one of the thing on which Reliance Mobile team must emphasis so that there employee can be more productive as it was found during the visit to the corporate office people they lack in managing Page | 96
  97. 97. QUESTIONNAIRE *1) Your Organization considers training as a part of organizational strategy. Do you agree with this statement? Strongly agree Agree Somewhat agree Disagree *2) How many training programmes will you attend in a year? Less than 10 10-20 20-40 More than 40 *3) To whom the training is given more in your organization? Senior staff Junior staff New staff Based on requirement *4) What are all the important barriers to Training and Development in your organization? Time Money Lack of interest by the staff Non-availability of skilled trainer *5) What mode of training method is normally used in your organization? Page | 97
  98. 98. Job rotation External training Conference/discussion Programmed instruction *6) Enough practice is given for us during training session? Do you agree with this statement? Strongly agree Agree Somewhat agree Disagree *7) The training sessions conducted in your organisation is useful. Do you agree with this statement? Strongly agree Agree Somewhat agree Disagree *8) Employees are given appraisal in order to motivate them to attend the training. Do u agree with this statement? Strongly agree Agree Somewhat agree Disagree *9) How long will it take to implement the trained process? Less than 1 month 1-2 months 2-4 months Page | 98
  99. 99. More than 4 months *10) What type of training is being imparted for new recruitments in your organization? Technical training Management training Presentation skill *11) How well the workplace of the training is physically organized? Excellent Good Average Bad *12) What Training and Development do you need to make your career aspirations to come true? Leadership training External Degree Study Formal meeting procedures Other (Please Specify) *13) What are the conditions that have to be improved during the training sessions? Re-design the job Remove interference Re-organize the work place Upgrade the information of the material given during training Page | 99
  100. 100. BIBLIOGRAPHY BOOKS: David A. Decenzo/Stephen P. Robins (2004) Personal and Human Resource Management A. Monappa (2004), Personal Management Allan Pepper (1999) A Handbook on Training and Development WEBSITES: www.Reliancemoney.com www.wikipedia.org www.naukrihub/training and development.com Page | 100
  101. 101. Page | 101

×