Retraining

Posted in Human Resource Terms, Total Reads: 363
Advertisements

Definition: Retraining

Retraining is training given to long-term employees of an organization to make them equipped with the future needs of the organization. Retraining helps in developing employees and preventing them from being obsolete for the job requirements. As the name itself suggests, retraining is training of employees who were trained is the past.


Retraining is usually done when there is a technological changes that led to the changes in the operational processes of the organization. Retraining is also done during job rotation. As job rotation involves change in the role and thus requires different skills, retraining for such employees is done to equip employees with the required skills.

 

Organizations may view money spent on retraining as costs incurred. But, from an HR manager’s perspective, it is an investment that helps in developing the employees. This helps in motivating the employees and retaining them thereby resulting in lesser attrition rates. Often older members in the organization are retrained. However, sometimes, people who were laid off or suspended and taken back to organization are also retrained to make them aware of the operational changes and technological advancements. To reduce the skill gap between old and young employees, retraining should be given to older employees at institutes of higher education. One of the researches estimates that the retraining at the community college lead to the long term increase in the earnings of the male older employees by 8 percentage and female older employees by 10 percent. Thus, retaining also increases the employability of the individuals.

Hence, this concludes the definition of Retraining along with its overview.

Advertisements

Browse the definition and meaning of more terms similar to Retraining. The Management Dictionary covers over 7000 business concepts from 6 categories.

Search & Explore : Management Dictionary



Share this Page on: