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Training, development and incentives

Short answer

Training improves current job skills; development grows abilities for future roles. Incentives include monetary rewards (bonus, commission, profit sharing) and non-monetary rewards (recognition, promotion, job security) to enhance performance and satisfaction.

What do you mean by training and development of human resources? Explain various incentives used in organization.

Training and development

Training is a planned process of improving the present knowledge, skills and attitude of employees to do their current jobs better. Development is a broader, long-term process of growing the employee's abilities and potential for future responsibilities, especially of managers.

BasisTrainingDevelopment
AimCurrent job skillsFuture growth
TimeShort termLong term
FocusOperative staffManagers
ScopeNarrowWide

Importance: higher productivity, fewer errors and accidents, readiness for change in technology, better morale, lower turnover and a supply of future leaders. Examples include NEA's training for engineers on new grid technology or Nepal Telecom's staff training for 5G.

Incentives used in organizations

  1. Monetary incentives:
    • Bonus (annual, as per the Bonus Act, 2030).
    • Commission to sales staff.
    • Piece-rate and productivity bonus.
    • Profit sharing and stock options.
    • Allowances, overtime pay.
  2. Non-monetary incentives:
    • Recognition, awards and praise.
    • Promotion and career growth.
    • Job security, better working conditions.
    • Participation in decisions and job enrichment.
    • Training and foreign study opportunities.
    • Fringe benefits like medical insurance, provident fund and housing.

✓ Answer checked by Claude Opus 5.5 (high effort)

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