The impact of building skills: effects of investing in training and life-long learning on successful business performance

Abstract

The concept of competencies, which has been imposed during the last few years in the field of human resources management, is considered by numerous researchers as being the adequate response for many unanswered questions within the corporations by both employers and employees, within an economic context that is continuously changing.

In this context, skills acquisition and development do represent a major challenge for the employers and employees, both of which have a mutual interest in investing themselves in an approach of learning and long-life training in order to develop and improve their competence base. The corporation does have a huge role in improving the process of skills development, however, the issue that arises is how will it do so?

The main purpose of this study is to demonstrate the best way possible for the corporates to develop their employees’ individual skills.