Training and Development Practices of Sonali Bank PLC

Abstract

This study analyses how training and development programs affect the efficiency and effectiveness of a company's workforce. The study's primary objective is to highlight the fundamental arguments and evidence demonstrating how training and development programs bring impact on employee capabilities and how it contributes to the overall success of an organization. Through training and development initiatives, an employee's skills and knowledge are enhanced in the workplace. This study tries to investigate whether there is a substantial and strong relationship exists among the predetermined variables including training, development, productivity, and performance. The problem statement in the first chapter outlines the dynamic business environment and the crucial need for employee development and improvement. Businesses are becoming extended and thus, maintenance of them involves skilled and efficient human resources. Again, a business can achieve competitive advantages through exploiting human resources so, investing in employees of the bank might bring smooth functioning of the bank. Therefore, the increasing need for performing challenging tasks arise the need for training of the employees and planned development. The study has been conducted by following the appropriate methodology that provides the way of conducting this study. This is a descriptive study and outlines the impact of different variables. There are four variables among them "Training, and Development" are the two independent variables, and "Performance, and Productivity" are the two dependent variables. A quantitative approach has been adopted to explore the changes in the dependent variables due to independent variables. The information was compiled from primary as well as secondary sources. Questionnaires were developed consisting of close-ended questionnaires. The questionnaires also contain a Likert scale where each question is rated on a scale of 1 to 5. As the sample size of the study was 70 and seventy people were asked to fill out the questionnaires of the bank including different designated employees. Seventy questionnaires were filled and returned; they were considered as the input data of the research work. The data were extracted and also analyzed using the IBM SPSS Statistics version 29. Various statistical approaches, such as descriptive and inferential techniques are applied to analyze the data where the mean represents the central tendency of the data set. Standard deviation is calculated to find out the dispersion of the data from the central tendency. The calculation of the coefficient correlation represents how the variables are related to each other and to what extent they are related. Six hypotheses were developed to explore v the impact of independent variables. To verify the assumptions and investigate the expected results, regression analysis is conducted. The collected data were analyzed using the SPSS in this research where the statistical methods and tools are used to define the impact of the variables. Demographic information of the respondents is categorized and represented using frequency distribution in Table 1 which shows the gender, age, marital status, occupation, and experience. When evaluating the reliability of a scale, a value of Cronbach's Alpha is 0.952 to 0.699 indicating a trustworthy scale. The overall mean of the four variables ranges 3.8686 to 3.4971 and their standard deviation ranges 0.588 to 0.551. Then, a correlation matrix is developed, and its shows that there is a positive association among the variables. Regression analysis is performed to check whether the hypothesis is accepted based on the calculation of the value of R, R square, F value, and T value, P value, or rejected based on evidence. Here in the regression model, the R-value indicates the relationship of an independent variable with a dependent variable. The percentage changes in the dependent variables that can be attributed to the independent variables are shown by the R square in this study. By comparing the data to a model without independent variables, the F statistic reveals whether or not the regression model provides a better match. This test is used to assess the regression model's overall usefulness. In the regression model, the T value is the calculated difference in terms of standard error. T's magnitude raises the quantity of evidence against the null hypothesis. The regression model has concluded that all the hypotheses are accepted and the null hypotheses are rejected with appropriate evidence. The summary reveals that employee performance and productivity are strongly affected by the incorporated training and development initiatives of the bank. Following the findings, the study has proposed recommendations for the employers. The company should push for training and development strategies that are transparent and easily understood by employees. The training environment and training policies should be actively fostered by employers, managers, and decision-makers. The company should provide mandatory training for all employees to better acquaint them with the company's annual plan and objectives. Such initiatives can create a sense of deep knowledge about the company’s strategy and directions. The workplace should be made more amenable to knowledge transfer. They also need to allocate enough funds to training to enhance existing training programs.