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Benefits of Training and Development for Individuals,Teams and Organizations

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As organizations strive to compete in the global economy, differentiation on the basis of the skills, knowledge, and motivation of their workforce takes on increasing impor¬tance. According to a recent industry report by the American Society for Training and De¬velopment (ASTD), U.S. organizations alone spend more than $126 billion annually on employee training and development (Paradise 2007). “Training” refers to a systematic ap¬proach to learning and development to improve individual, team, and organizational effective¬ness (Goldstein & Ford 2002).

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