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Investments in Human Resource Development - A Growing Concern for Organizations

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  • Alic Bîrcă

    (Academy of Economic Studies of Moldova,)

Abstract

In this scientific endeavour, the issue of investments in human resources development is addressed. In the knowledge-based economy, organizations are increasingly concerned with the allocation of financial resources for the vocational training of employees, realizing that they provide them, to some extent, with the comfort needed to meet external challenges. In this context, the opinions of several researchers who analysed the effects of investments in human resource development on organizational performance and competitiveness are presented. It also presents the views of several researchers on investments in on-the-job training, as well as the risks of losing human capital if employees decide to leave the organization. Methodologically, the results of the Questionnaire for Continuing Vocational Training applied in the organizations of the EU Member States were used. In this case, several indicators were analysed: the share of human resources development expenditures in total staff costs, the average cost of training for an employee and the average cost of training for a participant in training programs. The aforementioned indicators are also calculated according to the size of the organization. Also, a comparison is made of some indicators that reflect the investments in vocational training, between the organizations from the Republic of Moldova and those from the EU member states.

Suggested Citation

  • Alic Bîrcă, 2022. "Investments in Human Resource Development - A Growing Concern for Organizations," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 23(1), pages 21-36, March.
    • Handle: RePEc:rom:rmcimn:v:23:y:2022:i:1:p:21-36
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    References listed on IDEAS

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    1. Alan Barrett & Philip J. O'Connell, 2001. "Does Training Generally Work? The Returns to in-Company Training," ILR Review, Cornell University, ILR School, vol. 54(3), pages 647-662, April.
    2. Luthans, Fred & Luthans, Kyle W. & Luthans, Brett C., 2004. "Positive psychological capital: beyond human and social capital," Business Horizons, Elsevier, vol. 47(1), pages 45-50.
    3. Denisa ABRUDAN & Iulia CONEA-SIMIUC, 2019. "How Managers Can Create Happy Working Environment," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 20(3), pages 286-296, July.
    4. Alic BÎRCĂ & Igor MATVEICIUC, 2021. "Comparative Analysis of Vocational Training Methods Applied within Organizations," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 22(2), pages 158-169, May.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    learning; vocational training; training methods; continuing vocational training; adult training;
    All these keywords.

    JEL classification:

    • J44 - Labor and Demographic Economics - - Particular Labor Markets - - - Professional Labor Markets and Occupations
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • M53 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Training

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