Due to the increasing importance of Human Capital and
its competencies required for the sustainability of the
organization, the employers have started to provide job
security, respect, investments for their grooming &
development and prosperity (Durkovic, 2009). In his article
“Development of Human Resources as Strategic Factors of
the Companies' Competitive Advantage” Durkovic (2009)
has mentioned that now the successful global organization
are putting more and more emphasis towards HRD
activities and thus the organizations in America, Asia and
Europe has achieved phenomenal growth and success by
providing education to their employees.
Thomas. N. Garavan (1999) in an article “Management
development: contemporary trends, issues and strategies”
mentions that averagely 3% of the European Companies’
payroll is spent on management development activities,
which shows how much important it is for the employers.
Moreover, organizations are looking for newer approaches
towards leadership development and thus its budgets will
continue to grow considerably during the coming century
(McCarthy, 2007)
Ian Smith (2003) in his article “Continuing professional
development and workplace learning 5: human resource
development – a strategic imperative” says that skill development
and learning activities are being planned at national level by the
countries like UK, Australia and India and thus they have
formulated policies and departments at national level.