Vol: 1, Issue: 1 2011

Training Practices in Public & Private Financial Institutions: An Insight into Employee's Perspective

Bhawna Malik

Ensuring safety in work environments is essential not only for personnel, but also for the organization as well as the environment. Safety is perceived as the functioning of an organization without serious failures or harm for the organization and the environment. Safety is continuously developed from a coaction of intra- and extraorganizational factors such as personnel, technology, or rules (Fahlbruch, Sch¨obel & Domeinski, 2008). One measure taken to ensure safety is training. A skilled workforce can yield higher productivity, higher motivation and commitment, and increased safety (Salas, Wilson, Priest & Guthrie, 2006b). Training refers to the acquisition of skills that result in improved performance (Patrick, 1992) and is defined as the systematic approach to affecting individuals knowledge, skills, and attitudes in order to improve individual, team, and organizational effectiveness– (Aguinis & Kraiger, 2009, p. 452). Todays banking and capital markets industries are highly competitive, with the majority of firms providing similar products and services. When a successful new financial product or service is first introduced, profit margins are often substantial but increased global competition quickly whittles these margins down to levels where under-capitalized or less- productive institutions can no longer compete. Often, the only distinguishing feature is which firm can deliver the product or service at the least expense. The present research paper tried to focus of Training Practices in Public & Private Financial Institutions: An Insight into Employees Perspective.