IHRP’s Perspective on Business Case for Workforce Transformation
Many companies appreciate the importance of developing their employees. But learning & development of employees is often not a priority and consequently are one of the first casualties in budget cuts. Many perceive participation in training taking place at the expense of everyday job responsibilities and tasks. Even employees themselves may question whether learning is worth the effort in the short run, even if they think it could deliver longer-term gains.
In a VUCA world, companies must build capabilities for workforce/business transformation. It is an ongoing journey and critical for to survive, sustain and seize new opportunities in the long run. Building a relevant and skilled workforce will in turn strengthen the employability of the PMEs that they employ. This chapter attempts to make the business case for building in-house talents and share some best practices to drive home the idea that retraining and equipping employees with new skills is an investment, rather than a cost to employers.
Mayank Parekh
CEO, Institute for Human Resources Professionals
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