Sam’s Club Trainin & Development. It needs to be at least 250 words. Training The training of employees should take place after the employees are taken through orientation to enlighten them better on assistance services (Kamin, 2008). Being an important aspect in an organization, training will mold the thinking of Sam’s Club employees. Wentland writes that a well-trained employee is more productive and efficient. Sam’s club training of will revolve around for basic grounds (2007):
Training will allow new employees to be aware of mission, vision, rules and regulations and the working conditions of Sam’s club
Training will enable the existing staff in order to enhance and refresh their knowledge.
Training will prepare the employees to share the responsibilities of the higher-level job.
Training will enable the employees cope with changes in technology and organization policy changes.
From the above, Sam’s club will benefit in the following ways:
It will improve employee morale- Training of employees will make them have a sense of belonging and job security therefore improving their morale bringing about improved results.
Customer satisfaction-Due to training, it is expected that the customers will be satisfied to better service delivery from the employees.
Minimal supervision-When employees are trained, they become well acquainted with the operations of Sam’s club therefore they require minimal supervisions.
Few errors- employees make fewer errors because of training. Knowledge gained enables the employees be proficient in their working minimizing the chances of mistakes and this facilitates efficiency in both quantity and quality of service provided by the employees.
Return on investment (ROI)
Return on investment is the measure of a corporations profitability, equal to a fiscal years income divided by common stock and preferred stock equity plus long-term debt (Bull,2008). Sam’s club return on investment is crucial in determining its investment review. In order to calculate the Return on Investment of Sam’s club, through the following steps:
Step 1: .Calculate all the costs associated with .an .investment.
This will involve determining the initial upfront costs, maintenance costs, taxes and research cost associated with the investment.
Step 2: Estimate or calculate the returns.
This will involve determining the gain there will be from the investment and when these returns will take place because returns are uncertain.
Step 3: Establish a timeline for costs and returns.
A simple time line will be drawn to list all the costs and investments where costs will be listed as negative and revenues positive in the following manner.
1/1/ 2008 initial investment cost: -$100,000
9/21/ 2008 sell investment revenue: $120,000
Step 4: Calculate return on investment .
This will be important in evaluating the efficiency of Sam’s club as an investment. (Grant, 2010).
Bull, R. Financial ratios: how to use financial ratios to maximise value and success for your business. Oxford: CIMA. 2008. Print
Grant, R. M. Contemporary strategy analysis (7th ed.). Hoboken, NJ: John Wiley & Sons. 2010. Print.
Kamin, Maxine. Customer service training. Oxford: Pergamon Flexible Learning, 2006. Print.
Wentland, Daniel M.. Strategic training putting employees first. Amherst, Mass.: HRD Press, 2007. Print.