Using the criteria Training uses to rank organizations as well as from your own research, prepare a report about strategic training and development in your chosen organization.
Job skills are considered as the important factor for the development of employee and are also considered as the core value for the organization for the profit maximization. Training is considered as the important part of the organization as it involves the cost that reduces the profit margins of the company but also benefits the organization at the same time in terms of employee development. (Galán-Mañas, 2015) This research report focuses on the strategic training and development of an organization Keller Williams Realty Inc. , in terms of training budgets, goals and execution and evaluation of training programs as it is considered among the best organizations of USA in terms of training and development of employees.
Description of organization
Keller Williams Realty Inc. is an American Real estate international franchise with its headquarters in Austin, Texas. The company is founded b Gary Keller and Joe Williams in 1983, which is now expanded to 700 offices. It is considered as the largest real estate franchise in the world. Presently the company is having 17000 plus agents and 200 plus corporates as the employees of the company. (Keller Williams Moves Into #1. (2018). As the company is expanding with a large number of agents across the country so the need for training and development is also of utmost importance for the organization. The company launched the Luxury Homes in the year 2007which is considered as the biggest project of the company at that time.
The company is expanding the business by franchising of the company in the countries like Indonesia, Southern Africa, Germany , Turkey , Switzerland and United Kingdom. The company has been praised for many awards and recognition. The company is considered as the top 100 Real Estate company and also received an Inc. Hire Power Award. In addition to that, the company is also recognized as the No.9 Top Workplace by the magazine workplace dynamics.
For an organization to remain at the top, the company has a need for training and development models that help the organization in the execution of roles and responsibilities.
Development of training models by need assessment and Budgeting
The organization has, therefore, develop the training model that helps the organization in providing their stakeholders with relevant skills for the overall development of the organization in terms of assessment of organizational needs (Phillips,2016). The company Keller Williams Realty Inc. has on continuous basis benchmark its training quality with the set standards of training. The company on a regular basis benchmark its quality of training in terms of percentage of the training budget on the overall financial budget of the company in a particular financial year.
Keller Williams , Inc. also keep the records of the number of hours an employee spends on the training programs , which is used to determine the work effort in terms of service quality. (Falola,2014) The training programs of the company also are focused on the mission and values, so that the goals of the company will be achieved in terms of objectives of the company. The company has taken initiatives in term s of benchmarking with the competitors of the company, which make them the number one player in terms of improvement in performance by the assessment of training needs.
The company is considered as the top organization among the 125 corporates in 2015 and score the runner-up position in the year 2016 in terms of training and development of the employees Keller Williams Moves Into #1. (2018). . The training of the company has been conducted at Keller Williams’s Realty Inc., University. The time spent on training depends on the training models that how much time will be required by the trainer for the specific training.
The company spent 2.3 million dollars in the training module of Gables Residential and other housing residential of the country. This shows that the company spend the total of 3.51% of the payroll of the employees. The table also shows the training budget of Edward Jones which is 2.7 % of the total employee's payroll. The real estates were also constructed in Atlanta with the overall revenues of 2.3 billion dollars and with the number of employees 1,222. The table also provides the training budget for the Boycott Scott and white health which will cost to 115.9 dollars, which represents the 9% of the total value of employees payroll in terms of data
Keller Williams’s training organizational models in terms of competency
Keller Williams has identified the fact that the development of employee skills is the best and effective way in terms of improving the service quality to the customers. As the company is dealing in real estate business , which is a part of the hospitability business, the employees will be effective in terms of service delivery and quality( Lawson,2015). The company is spending around 21% of employees’ salaries on their training and development. The mean training budget of the company is $35.5 million, which represents the 4.53 percent of total payroll. The organization is also provide detraining in terms of online and virtual LED classrooms which accounts to 64,516 trainees. (International,K(2018) The company also focuses on the competency aping methods for the individual development of employees. In terms of technology the company also uses the concept of six sigma for the evaluation of training which accounts for 71 percent and they also used the Kirkpatrick level of evaluation at the different levels
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Assessment of the organization in terms of training and development
The company Keller Williams Realty Inc., focuses on the training and development of employees in a well-documented manner. The training is always compulsory for every employee, as it has the benefits involved in it (Trends,2016). Every employee of the company willingly participates in the training programs as the training sessions will be conducted on an annual basis. But if the organization found the urge of training in between the year, then few members of the group will be selected and allowed to participate in training programs.( Kitaw, 2016) The training programs are always be conducted on the basis of Training Needs Analysis, which is based on the job analysis criteria. In the course of job analysis, the training needs analysis helps the organization in the identification of gaps that will be filled by the organization by the hiring of external trainers or by conducting training programs for the internal trainers.
To conclude the report that is based on the strategic training and development of Keller Williams Realty,Inc, the findings that have been identified by us is that the company spend a lot on the training and development sessions of the employees , for improving the competency of the organization. Though it involves huge cost, at the same time it will benefit the organization. The training sessions are conducted in an organized way , which results in interest creation of the employees , and they will earn from these training sessions. The company in their training development module focuses on the technical part as well as the use of six sigma models and the Kirkpatrick model of evaluation of training.
Phillips, J. J., & Phillips, P. P. (2016). Handbook of training evaluation and measurement methods. Routledge.
Keller Williams Moves Into #1. (2018). Training Magazine. Retrieved 2 February 2018, from https://trainingmag.com/trgmag-article/keller-williams-moves-1
Lawson, K. (2015). The trainer's handbook. John Wiley & Sons.
Trends, C., & Williamson, O. (2016). The Issue. Benefits, 615, 446-3303.
International, K. (2018). Keller Williams Named Top Training Organization Worldwide. Blog.kw.com. Retrieved 2 February 2018, from https://blog.kw.com/keller-williams-named-top-training-organization-worldwide
Kitaw, Y., Ye-Ebiyo, Y., Said, A., Desta, H., & Teklehaimanot, A. (2016). Assessment of the training of the first intake of health extension workers. The Ethiopian Journal of Health Development (EJHD), 21(3).
Galán-Mañas, A., & Hurtado Albir, A. (2015). Competence assessment procedures in translator training. The Interpreter and Translator Trainer, 9(1), 63-82.
Falola, H. O., Osibanjo, A. O., & Ojo, S. I. (2014). EFFECTIVENESS OF TRAINING AND DEVELOPMENT ON EMPLOYEES'PERFORMANCE AND ORGANISATION COMPETITIVENESS IN THE NIGERIAN BANKING INDUSTRY. Bulletin of the Transilvania University of Brasov. Economic Sciences. Series V, 7(1), 161.