Business Impact of Effective Training and Development in Professional Services in the Software Industry

Abstract

Although retention of employees has been one of the most relevant topics in Human Resource
Management, companies are still failing to address or even understand it effectively. Over the past
years, numerous research pointed out to Training and Development (“T&D”) as a mechanism for
improving business performance, motivation and retention.
However, how specifically set in place T&D practices that are meaningful to the business and
individuals is not yet well known. There is also little known around what effective T&D looks like.
The purpose of this paper is providing a specific definition of “effective” T&D and a model for
Professional Services organisations in Software or SaaS companies that improves business
performance, quality of delivery and protects tacit knowledge while also constructs a better world for
their employees by creating a much better work-life balance, empowering their careers and
maximising their own potential and satisfaction out of their jobs.