Benefits of Training and Development for Individuals,Teams and Organizations

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).