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Understand staff training and development: Evaluate different methods of training and development, assess the need for Continuous Professional Development.

Lesson 68/120 | Study Time: Min
Course: BBA in Accounting and Finance


Understand staff training and development: Evaluate different methods of training and development, assess the need for Continuous Professional Development


Understand staff training and development: Evaluate different methods of training and development, assess the need for Continuous Professional Development (CPD).

📌 Importance of Staff Training and Development: Staff training and development are crucial for organizations to enhance employee skills, knowledge, and performance. It ensures that employees are equipped with the necessary competencies to meet job requirements and contribute to organizational goals. By investing in training and development programs, companies can improve employee satisfaction, engagement, and overall productivity.

📊 Evaluating Different Methods of Training and Development: Organizations have multiple options when it comes to training and development methods. Here are some commonly used approaches:

1️⃣ On-the-Job Training (OJT): OJT involves learning while performing job tasks. It can include shadowing experienced employees, mentoring, job rotation, and apprenticeships. This method allows employees to acquire skills in a real work environment while receiving immediate feedback and guidance.

Example: A sales representative is paired with a senior employee who demonstrates effective sales techniques, provides feedback, and supports their learning process.

2️⃣ Classroom Training: Classroom training involves delivering instruction in a traditional classroom setting. Trainers or subject matter experts provide lectures, presentations, and interactive activities to facilitate learning.

Example: An organization conducts a workshop on effective communication skills for its customer service representatives, providing them with theoretical knowledge and practical exercises.

3️⃣ E-Learning: E-learning refers to online training modules or courses that employees can access remotely. These modules often include multimedia elements such as videos, quizzes, and interactive simulations.

Example: An employee can access an online training course on project management, completing modules at their own pace and convenience.

4️⃣ Cross-Functional Training: Cross-functional training exposes employees to various departments or roles within the organization. It helps employees gain a broader understanding of the business and enhances their versatility.

Example: An employee from the finance department spends a week working with the marketing team to learn about their strategies and processes, fostering collaboration and knowledge sharing.

5️⃣ External Workshops and Seminars: External workshops and seminars are conducted by industry experts or professional organizations. Employees attend these events to gain specialized knowledge and stay updated on industry trends.

Example: A software development company sends its programmers to a conference on the latest programming languages and technologies.

💡 Assessing the Need for Continuous Professional Development (CPD): Continuous Professional Development (CPD) is essential to keep employees' skills relevant and up to date in a rapidly changing business environment. It ensures that individuals continue to grow and adapt to new technologies and industry advancements. Assessing the need for CPD involves:

1️⃣ Identifying Skill Gaps: Organizations should regularly evaluate employees' skills and competencies to identify areas where further development is needed. This can be done through performance reviews, self-assessments, and feedback from managers.

2️⃣ Keeping up with Industry Changes: Industries evolve, and new technologies emerge. It is crucial to monitor these changes and assess how they impact employees' roles and skill requirements. This can be achieved through market research, industry publications, and attending conferences.

3️⃣ Encouraging Individual Development Plans: Organizations should actively engage employees in creating individual development plans that align with their career goals and the organization's needs. These plans can include specific training programs, certifications, or job rotations.

Example: An employee working in the marketing department identifies a need to enhance their social media marketing skills. They propose attending a specialized workshop on social media marketing to their manager as part of their professional development plan.

By continuously evaluating training methods and assessing the need for CPD, organizations can ensure that their employees remain competent, motivated, and equipped to handle new challenges. This ultimately contributes to the overall success of the organization.


Evaluate different methods of training and development:

  • Identify and describe various methods of training and development, such as on-the-job training, classroom training, e-learning, mentoring, and coaching.

  • Analyze the advantages and disadvantages of each method, considering factors such as cost, time commitment, effectiveness, and scalability.

  • Compare and contrast the suitability of different methods for different types of skills and knowledge development.

  • Evaluate the impact of technology on training and development methods, including the use of virtual reality, simulations, and gamification.

The Wide Spectrum of Training and Development Methods

Training and development methods are as diverse as the individuals who participate in them, each bringing its unique advantages and challenges. Let's dive in and explore a few of these methods in detail.

On-the-Job Training and Coaching

👨‍💻 On-the-Job Training is often considered the most direct and effective method for skills development. It involves employees learning while performing their actual job tasks.

One prime example is Southwest Airlines, which is known for its unique culture and customer service. Employees are trained on the job to handle everything from ticketing to onboard services, developing skills in real-time.

🗣 Coaching, on the other hand, focuses on individual growth and learning. The relationship between a coach and their coachee is vital, and it often extends over a longer period.

For instance, Google has been providing coaching sessions to their employees, even those at entry-level positions, creating an environment that encourages continuous learning and development.

Classroom Training and E-Learning

🏫 Classroom Training is one of the most traditional methods, allowing for face-to-face interaction between learners and educators. For example, Toyota utilizes classroom training for their production system, fostering a culture of continuous improvement.

💻 E-Learning is exploding in popularity due to its flexibility and scalability. IBM, for example, saved approximately $200 million after switching to e-learning.

Web-based training modules, video content, and interactive quizzes are commonly used in e-learning.


Mentoring and the Use of Technology in Training

👥 Mentoring is a relationship-based training method, with a more experienced individual guiding a less experienced one. At Ernst & Young, mentoring plays a crucial role in employees' career growth and leadership development.

🕹 The Impact of Technology on training and development cannot be overstated. From virtual reality to gamification, technology is revolutionizing how we learn and develop skills.

For instance, Walmart uses virtual reality to train their employees in customer service, management, and a variety of other areas. Similarly, Deloitte has been leveraging gamification in their leadership training to enhance engagement and learning outcomes.

In conclusion, training and development methods should be chosen based on the specific needs and context of the organization. It's not about choosing the 'best' method, but rather the most suitable one for your organization.



Assess the need for Continuous Professional Development (CPD):

  • Define Continuous Professional Development (CPD) and its importance in maintaining and enhancing professional skills and knowledge.

  • Identify the key drivers and benefits of CPD, including staying up-to-date with industry trends, improving job performance, and enhancing career prospects.

  • Assess the specific CPD requirements and expectations within your industry or profession.

  • Evaluate the effectiveness of current CPD provision within your organization or industry, considering factors such as accessibility, relevance, and support.

Understanding Continuous Professional Development (CPD)

Continuous Professional Development (CPD) is a holistic commitment to lifelong learning and self-improvement in professional contexts. It's a crucial component of modern business practices because it ensures that employees stay current with the latest industry trends, enhances their job performance, and optimizes their career prospects.

For instance, in the world of digital marketing, algorithms, and best practices, they change rapidly. Without regular upskilling, a digital marketer might find their knowledge outdated within a year. So, they need to engage in regular CPD to stay relevant and effective.

🔑Key Drivers and Benefits of CPD

There are several key drivers and benefits of CPD that make it an integral part of modern business. Some of these include:

  • 🌐Staying Up-to-Date with Industry Trends: CPD ensures that professionals keep pace with the latest developments in their fields. For example, in the healthcare sector, new research and advancements are made almost daily. Without CPD, healthcare professionals might not be able to provide the best possible care to their patients.

  • 📈Improving Job Performance: CPD helps to enhance skills and knowledge, leading to better job performance. An IT professional, for instance, would benefit from continuous training to stay abreast of emerging technologies and methodologies.

  • 📊Enhancing Career Prospects: Employees who actively engage in CPD are more likely to be recognized for their commitment to their roles, increasing their chances of promotions and career development opportunities.

Assessing CPD Requirements in Your Industry

Each industry has its unique CPD requirements. In law, for example, lawyers are often required to complete a certain number of CPD hours each year to maintain their practicing licenses. In other sectors like engineering or healthcare, professionals may need to engage in regular training to stay updated with technological advancements or medical breakthroughs.

To effectively assess the CPD requirements of your industry, it's essential to research professional associations, regulatory bodies, and industry standards. This research could involve exploring websites, consultation with professionals in the field, and examining industry publications.

For example, if you're in the field of project management, you might want to consult with the Project Management Institute (PMI) to understand the CPD requirements for maintaining your Project Management Professional (PMP) certification.


Evaluating the Effectiveness of CPD Provision

To evaluate the effectiveness of CPD provision within your organization, you need to consider factors like accessibility, relevance, and support.

  • 🌐Accessibility: Consider whether your organization provides easy access to CPD resources. Do employees have the flexibility to learn at their own pace, and are there any financial barriers to participation?

  • 🎯Relevance: Assess whether the CPD opportunities align with the current needs and future directions of your industry. For example, a company in the renewable energy sector might want to provide training in emerging green technologies.

  • 👥Support: Look at what support is provided to those undertaking CPD. Is there guidance available to help employees choose the right learning opportunities, and are there systems in place to recognize and reward CPD participation?

A real-life example of this could be a company that offers a wide range of online courses for their employees but doesn't provide the necessary time or resources for employees to take advantage of these opportunities. In this case, while the organization might score high on accessibility, it would score low on support.


In conclusion, understanding and evaluating CPD is crucial for maintaining and enhancing professional skills and knowledge. It allows professionals to stay current with industry trends, improve job performance, and increase their career prospects. The assessment of CPD requirements and the evaluation of CPD provision within an organization are fundamental for an effective CPD strategy.


Evaluate performance development planning (PDP) and reviews:

  • Define performance development planning (PDP) and its role in aligning individual goals and development needs with organizational objectives.

  • Analyze the components and process of PDP, including setting SMART (Specific, Measurable, Achievable, Relevant, Time-bound) goals, identifying development opportunities, and creating action plans.

  • Evaluate the effectiveness of PDP in driving employee performance and development, considering factors such as clarity of objectives, regularity of reviews, and feedback mechanisms.

  • Assess the role of managers and supervisors in supporting and facilitating PDP, including providing coaching and feedback, and addressing development needs.

Have you ever wondered how organizations manage to align individual ambitions and capabilities with their strategic aims? The magic wand here is Performance Development Planning (PDP). In the quest to understand staff training and development, PDP stands as an important player. It provides a structured and supportive process for individuals to identify their learning needs and career aspirations, while also supporting organizational development and success.

📝 Performance Development Planning (PDP) Defined

In essence, Performance Development Planning (PDP) is a process that enables an employee and their manager to discuss and agree on specific goals and development opportunities. It's not just about achieving targets - it's about equipping employees with the skills and knowledge they need to excel in their role and contribute optimally to the organization's objectives.

💡 The Components and Process of PDP

A well-structured PDP process involves various components, including setting SMART goals, identifying development opportunities and creating action plans.

The first step is to set SMART goals. These goals are Specific, Measurable, Achievable, Relevant and Time-bound.

Imagine a customer service rep in a large retail company. A SMART goal for this employee could be: "Increase customer satisfaction rating by 20% by the end of Q2 by resolving customer queries on the first call itself."


This goal is specific (increasing customer satisfaction), measurable (by 20%), achievable (through resolving queries on the first call), relevant (central to the role of a customer service rep), and time-bound (by the end of Q2).

After SMART goals are set, the next step is identifying development opportunities. These could range from attending workshops, undertaking courses or gaining hands-on experience. The choice depends on the nature of the role and the individual's learning style and aspirations.

Finally, the PDP process culminates in creating action plans. These are detailed schedules that outline what needs to be done, by when and how.

🎯 Evaluating PDP Effectiveness

How effective is PDP in driving employee performance and development? It largely depends on factors such as clarity of objectives, regularity of reviews, and feedback mechanisms.

When objectives are clear and understood, employees know what's expected of them, which enhances their performance. Regular reviews ensure that progress is being made, and any potential issues are identified and addressed promptly. Feedback mechanisms provide necessary guidance and correction, enabling employees to learn, grow and improve continually.

🚀 The Role of Managers and Supervisors

Managers and supervisors play a critical role in supporting and facilitating PDP. They provide coaching and feedback, helping employees understand their performance and how they can improve. They also play a vital role in identifying and addressing development needs.

For instance, consider a manager at a software company. She notices that one of her team members has been struggling with a new programming language. Recognising this as a development need, she arranges for him to attend a training workshop. She also provides regular feedback on his work, helping him improve and reach his SMART goal.

To summarize, Performance Development Planning is an indispensable tool in aligning individual goals with organizational objectives, enhancing performance, and facilitating continuous professional development.


Discuss the benefits and drawbacks of different methods of training and development:

  • Identify and describe various methods of training and development, such as classroom training, online courses, workshops, and job rotations.

  • Discuss the advantages and disadvantages of each method, considering factors such as cost, time commitment, scalability, and effectiveness in achieving desired learning outcomes.

  • Analyze the suitability of different methods for different types of skills and knowledge development, considering factors such as the complexity of the subject matter, the learning preferences of individuals, and the available resources.

  • Consider the impact of emerging trends and technologies on training and development methods, such as the use of virtual reality, simulations, and gamification

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When it comes to training and development in the workplace, the methods used are as diverse and dynamic as the workforce itself. From traditional classroom settings to innovative online courses, workshops, and job rotations, there's a plethora of strategies HR can employ to ensure continuous professional development among employees.

🚀 Classroom Training: Oldie but Goodie

One of the oldest methods of training is the traditional classroom training. It's a face-to-face interaction between the trainer and the trainees, often involving lectures, presentations, and discussions.

The key benefit of this method is the opportunity for personal interaction. Employees can ask their doubts immediately, and trainers can provide instant feedback. However, it can become a costly and time-consuming process. Scheduling conflicts can also arise, particularly in larger organizations.

For instance, IBM saved approximately $200 million after switching to e-learning from traditional classroom training. The major savings came from a reduction in travel expenses and training time.

🔌 Online Courses: Training in the Digital Age

Online courses have surged in popularity in the recent past, thanks to their flexibility and scalability. Employees can take courses at their own pace, at any time and from anywhere. It's a cost-effective method, eliminating geographical limitations and reducing the need for physical infrastructure.

However, self-paced learning requires discipline and motivation, and the lack of personal interaction can be a drawback for some. Take Google, for example. They offer an array of online courses for their employees, ranging from coding to leadership. Despite the challenges, employees can learn per their convenience, leading to higher completion rates.

💡 Workshops: Hands-On Experience

Workshops are intensive, discussion-based training that provide hands-on experience. These can be an excellent method for skills development as they allow for practical, real-world experience.

But workshops can be expensive and time-consuming to organize, and they may not be scalable for large organizations.

One notable example comes from Toyota. The company often utilizes workshops to train employees in their famous Toyota Production System. Though it requires substantial resources, the results are worth it, considering the quality of skills imparted.

🔄 Job rotations: Walk in Someone Else's Shoes

Job rotations involve moving employees between different roles or departments to broaden their understanding and skills. This method can increase engagement and retention by providing variety and new challenges to the employees.

However, job rotations can cause disruptions and require substantial time and effort to manage. GE’s famous job rotation program has proven successful in nurturing versatile leaders, albeit the time and resource investment is significant.

🎯 Emerging Trends: Future of Training and Development

The world of training and development is not impervious to technological advancements. Innovations like virtual reality (VR), simulations, and gamification are making inroads into corporate training.

VR and simulations provide immersive, hands-on training experiences without the associated risks and costs. Gamification adds an element of fun and competition to learning, increasing engagement. However, they can be expensive to implement and may not be suitable for all types of training.

Companies like Walmart use VR for training employees in customer service and compliance. Despite the initial investment, the results in terms of improved performance and learning retention are promising.

In conclusion, there is no one-size-fits-all in training and development methods. Each comes with its benefits and drawbacks. The key is to understand the needs of your employees and organization and choose the most suitable methods accordingly.


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1- Introduction 2- Organisational structures: Understand different types and their financial reporting requirements. 3- PESTEL analysis: Explain and apply to analyse external factors affecting organisations. 4- Introduction 5- Macroeconomic factors: Understand the key factors and their impact on organizations. 6- Microeconomic factors: Understand the key factors and their impact on organizations. 7- International business environment: Understand the significance of macro and microeconomics in an international context and their impact on organization. 8- Introduction 9- Mathematical Accounting Methods. 10- Use mathematical techniques in accounting. 11- Create and use graphs, charts, and diagrams of financial information 12- Apply statistical methods to provide financial and accounting information. 13- Introduction 14- Financial Accounting: 15- Inventory valuation methods and calculations 16- Year-end adjustments and accurate accounting 17- Preparation of final accounts for sole traders and partnerships 18- Assessment of financial statement quality 19- Introduction 20- Budgeting: Understanding the role of budgeting, preparing budgets accurately, and analyzing budgets for organizational performance. 21- Standard Costing: Understanding the purpose of standard costing, calculating and interpreting variances accurately, and evaluating the advantages. 22- Capital Expenditure and Appraisal Techniques: Understanding key capital expenditure appraisal techniques, calculating payback, ARR, NPV, and IRR accuracy. 23- Costing Techniques: Differentiating between marginal and absorption costing, understanding job, batch, and process costing methods, using service cost. 24- Introduction 25- Leadership and Management in Accounting: Understand theories, motivation, and teamworking. 26- Introduction 27- Understand theories of finance 28- Discuss a range of financial theories and their impact on business decisions. 29- Analyse the nature, elements and role of working capital in a business. 30- Describe how a business assesses its working capital needs and funding strategies. 31- Analyse the ways in which a business manages its working capital needs Be able to analyse techniques used to manage global risk. 32- Analyse the scope and scale of financial risks in the global market. 33- Analyse the features and suitability of risk mitigation techniques. 34- Evaluate the suitability and effectiveness of techniques used by a business to manage its global risk. 35- Introduction 36- Understand corporate governance as it relates to organisations financial planning and control. 37- Analyse the role of corporate governance in relation to an organisation’s financial planning and control. 38- Analyse the implications to organisations of compliance and non-compliance with the legal framework. 39- Understand the economic and financial management environment. 40- Analyse the influence of the economic environment on business. 41- Discuss the role of financial and money markets. 42- Analyse the benefits, drawbacks and associated risks of different sources of business finance. 43- Be able to assess potential investment decisions and global strategies. 44- Analyse the benefits, drawbacks and risks of a range of potential investment decisions and strategies for a business. 45- Assess the ways in which the global financial environment affects decision-making and strategies of a business. 46- Inroduction 47- Be able to manage an organisation's assets: Analyse assets, calculate depreciation, maintain asset register. 48- Be able to manage control accounts: Analyse uses of control accounts, maintain currency, prepare reconciliation statements. 49- Be able to produce a range of financial statements: Use trial balance, prepare financial statements from incomplete records. 50- Introduction 51- Understand the principles of taxation. 52- Distinguish direct from indirect taxation. 53- Evaluate the principles of taxation. 54- Evaluate the implications of taxation for organisational stakeholders. Understand personal taxation. 55- Analyse the requirements of income tax and national insurance. 56- Analyse the scope and requirements of inheritance tax planning and payments. 57- Analyse the way in which an individual determines their liability for capital gains tax. 58- Analyse an individual’s obligation relating to their liability for personal tax. 59- Explain the implications of a failure to meet an individual’s taxation obligations. Understand business taxation. 60- Explain how to identify assessable profits and gains for both incorporated and unincorporated businesses. 61- Analyse the corporation tax system. 62- Analyse different value-added tax schemes. 63- Evaluate the implications of a failure to meet business taxation obligations. 64- Introduction 65- Understand recruitment and selection: Evaluate the role and contribution of recruiting and retaining skilled workforce, analyze organizational recruitment. 66- Understand people management in organizations: Analyze the role and value of people management, evaluate the role and responsibilities of HR function. 67- Understand the role of organizational reward and recognition processes: Discuss the relationship between motivation and reward, evaluate different. 68- Understand staff training and development: Evaluate different methods of training and development, assess the need for Continuous Professional Development. 69- Introduction 70- Understand the relationship between business ethics and CSR and financial decision-making. 71- Analyse the principles of CSR. 72- Evaluate the role of business ethics and CSR with financial decision-making. Understand the nature and role of corporate governance and ethical behavior. 73- Explain the importance of ethical corporate governance. 74- Explain, using examples, the ethical issues associated with corporate activities. 75- Analyse the effectiveness of strategies to address corporate governance and ethical issues. Be able to analyse complex CSR and corporate governance. 76- Explain how links between CSR and corporate governance provide benefit to the organisation. 77- Make recommendations for improvement to CSR and corporate governance issues. 78- Introduction 79- Apply advanced accounting concepts and principles: Learn about complex topics such as consolidation, fair value accounting, and accounting for derivatives. 80- Critically evaluate accounting standards and regulations: Understand the different accounting standards and regulations, such as IFRS and GAAP. 81- Financial statement preparation and analysis: Learn how to prepare and analyze financial statements, including balance sheets, income statements. 82- Interpretation of financial data: Develop the skills to interpret financial data and ratios to assess the financial health and performance of a company. 83- Disclosure requirements: Understand the disclosure requirements for financial statements and how to effectively communicate financial information. 84- Accounting for business combinations: Learn the accounting treatment for mergers and acquisitions, including purchase accounting and goodwill impairment. 85- Accounting for income taxes: Understand the complexities of accounting for income taxes, including deferred tax assets and liabilities and tax provision. 86- Accounting for pensions and other post-employment benefits: Learn the accounting rules for pensions and other post-employment benefits, including. 87- Accounting for financial instruments: Understand the accounting treatment for various financial instruments, such as derivatives, investments . 88- International financial reporting standards: Familiarize yourself with the principles and guidelines of international financial reporting standards . 89- Introduction 90- Auditing principles and practices: Learn the fundamental principles and practices of auditing, including the importance of independence, objectivity. 91- Introduction 92- Financial data analysis and modeling: Learn how to analyze financial data and use financial modeling techniques to evaluate investments. 93- Capital budgeting decisions: Understand how to evaluate and make decisions regarding capital budgeting, which involves determining which long-term. 94- Cost of capital: Learn how to calculate and evaluate the cost of capital, which is the required return on investment for a company. 95- Dividend policy: Understand the different dividend policies that companies can adopt and evaluate their impact on corporate finance and restructuring. 96- Introduction 97- Tax planning strategies: Learn various strategies to minimize tax liabilities for individuals and organizations. 98- Business transactions: Understand the tax implications of different business transactions and how they can impact tax planning. 99- Ethical considerations: Analyze the ethical considerations involved in tax planning and ensure compliance with tax laws and regulations. 100- Tax optimization: Learn techniques to optimize tax liabilities and maximize tax benefits for individuals and organizations. 101- Tax laws and regulations: Gain a comprehensive understanding of tax laws and regulations to effectively plan and manage taxes. 102- Tax credits and deductions: Learn about available tax credits and deductions to minimize tax liabilities and maximize savings. 103- Tax planning for individuals: Understand the specific tax planning strategies and considerations for individuals. 104- Tax planning for organizations: Learn about tax planning strategies and considerations for different types of organizations, such as corporations. 105- Tax planning for investments: Understand the tax implications of different investment options and strategies, and how to incorporate tax planning. 106- Tax planning for retirement: Learn about tax-efficient retirement planning strategies, including retirement account contributions and withdrawals. 107- Introduction 108- Risk management concepts: Understand the principles and techniques used to identify, assess, and mitigate financial risks. 109- Financial derivatives: Learn about various types of derivatives such as options, futures, and swaps, and how they are used for risk management. 110- Hedging strategies: Analyze different strategies used to minimize potential losses by offsetting risks in financial markets. 111- Speculation strategies: Explore techniques used to take advantage of potential gains by taking on higher risks in financial markets. 112- Regulatory frameworks: Understand the laws and regulations governing the use of financial derivatives and risk management practices. 113- Ethical considerations: Consider the ethical implications of risk management and financial derivatives, including transparency and fairness in finance 114- Introduction 115- Evaluate financial implications of strategic decisions: Understand how strategic decisions can impact the financial health of an organization. 116- Develop financial strategies for organizational objectives: Learn how to create financial plans and strategies that align with the overall goals. 117- Apply financial forecasting techniques: Gain knowledge and skills in using various financial forecasting methods to predict future financial performance. 118- Utilize budgeting techniques in support of strategic planning: Learn how to develop and manage budgets that support the strategic goals of the organization. 119- Consider ethical considerations in financial decision-making: Understand the ethical implications of financial decisions and be able to incorporate . 120- Understand corporate governance in financial decision-making: Learn about the principles and practices of corporate governance and how they influence.
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