Lot of us lament about the fact that today’s employees are not productive from day one despite the fact that most of them being very well qualified, at least on paper. Am sure that we can recall several interviews and interactions wherein the candidates could not explain even basic concepts related to their subject of education. This in turn calls for huge investments in training and skilling, and there is long time lag between the time someone joins an organisation and the time they start becoming productive.
If this is a big challenge on one side, the other challenge is from the finance side asking us to explain the ROI on our training investments. Every time. Rightfully so. There are no direct answers or solutions to these challenges.
Imagine the situation in the case of low wage workers who need to be trained and skilled, and the challenges that come with it.
Recently I read an article in the HBR about an experiment done in India that shows how much companies have to gain by investing in their employees through training. And the article does speak about the ROI subject as well, quantifying the returns. I think that everyone would love to read this piece. Especially the HR, L&D and finance guys.