Enhancing the value of training: creating closer time linkages between training acquisition, application and compensation

Abstract

Purpose – This article reinforces the importance of a strategic approach to training as a method of increasing the potential value of training. The strategic approach presented in the article includes timely linkages between the acquisition of training, the application of training, and rewards/compensation associated with training. Design/methodology/approach – The importance of training as an investment is discussed, followed by a summary/illustration of an example of a training program in a financial services organization that did not result in desired returns or value associated with the investment in training. Findings – Time lags between the acquisition of training and opportunities to apply the knowledge, skills, and capabilities developed through the training may have negative implications on employee perceptions and potential value associated with the training. Practical implications – The article provides interesting insights to leaders, human resource professionals, and others involved in employee training programs. Specific emphasis is placed on the importance of linking compensation and opportunities to apply/transfer knowledge with training acquisition in a timelier manner. Originality/value – The importance/value of applying knowledge, skills, and capabilities obtained through training is a recurring theme in the literature. The role of rewards in the form of compensation associated with training and knowledge acquisition is also widely noted. This article extends our understanding of these factors by placing emphasis on more closely linking the timing of training acquisition, application, and compensation in an effort to enhance the potential, strategic value of training investments.

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