Staff Training and Development

Managing and leading staff is a complex and challenging responsibility for any company,

as the quality of products and services is heavily dependent on the skills of the staff. In

order to enhance work productivity, it is the company's obligation to provide necessary

training to its staff, as their skill development falls under the company's responsibility.

However, even with adequate training, high productivity cannot be guaranteed unless the

staff is motivated to work.

The company's care for its staff should be akin to how parents care for their children, from

birth to their success in life. Similarly, the company needs to demonstrate care for its staff

from their first day, providing training, fostering retention, and enabling their success

within the company.

Case Study

Prince Bank employs $1,100$ individuals, with $100$ of them requiring training to enhance

work productivity. Out of these $100$ individuals, $20$ staff members are expected to leave

the company after $6$ months, and $10$ staff members after $10$ months. Failure to provide

training to these staff members would result in a $20\%$ loss of income within $6$ months.

$1-$ Should Prince Bank provide training to these $100$ staff members to develop their

skills? Please provide reasons to support your opinion.

$2-$ How should the budget range for the training agreement be determined based on

the duration of the agreement?