What is your training problem statement or objective?
The training aims to impart both the management and accountants with the relevant skill on how to utilize the new software of accounting in the business. The users’ financial information accuracy will be enhanced through the use of the new software. Also, the accessibility of the financial information of the company by the potential user will be ease as a result of the new system.
What are skills and knowledge required to perform the work?
First is the basic computer skills. Some of the employees in the firm have limited knowledge on the computer; therefore, training will focus on imparting necessary computer skills to the employees. The operation of the software requires essential computer skills hence the employees should be trained to perform their daily activities effectively. Initially, data entry in journals and ledger was manual since most accountants were computer illiterate. Nevertheless, the introduction of the new software in accounting enhance the entire accounting process, but there is one challenge. The challenge is incapability to establish the cause of the accounting error. The second skill is how to key the raw data into the system. The employees should know logging as well as understand the dynamics in financial data entry when using the new software. The basic skills on error originality are last essential skill for the employees. It enables employees to minimize and correct the activities that cause accounting error during operation.
What are the measures of successful performance of the work?
The number of errors that result during generation of reports and data entry is the primary determinant of the successful work performance. Currently, the human error has been reduced since the accounting process is automated. However, the process of keying data in the system is manually thus it is vulnerable to errors. For instance, posting of the transaction is the major part that is prone to errors. Therefore, a well-performed work is associated with limited or no error.
Are people performing at the levels required?
The performance of the most individuals is comparatively good since the mission and vision of the firm are achieved. For instance, the firm has managed to maintain a crucial accounting aspect. The payable amount of money which is a core characteristic of accounting is well tracked. All the payable information of accounts are updated on the daily basis which means the performance of employees is at a high level. The new software has facilitated frequency update of the accounts.
Is there under-performance for specific groups of employees?
The performance level of employees varies according to their knowledge, skills as well as training. Few employees are performing at low levels. The manager established the performance of each employee through the use of a client survey. Email link and Survey Monkey is a digital survey employed. A few clients noted few errors in the financial statements hence indicate the existence of under-performed groups. The errors are mistakes during data input. Conversely, various client responses were positive. The second approach is the use of OKRs. It involves the addition of an extra objective in the Checklist by each employee. The evaluation at the end of fiscal quarter indicated the number of the account that performed less. A quarter of employees did not achieve their state goals appropriately.
What are the causes of under-performance?
Presences of ineffective On-boarding and accounting software systems is one cause under performance in a business. Define management of organization process and practices determine the staff performance. Efficient implementation of the new system requires enough capital. However, the company usually ought for shortcut implementation that reduces the efficiency of the system leading to under-performance. Pre-training and quality induction on the new software reduces under performance.
Disconnection of the employee also causes under-performance. Disconnection results when business visions, mission, belief, and direction is not understood or shared by the employees. In most instance, employs are emotionally disconnected. Individual values and passion act as a fuel for the performance. Conversely, it is liable to diminish when there is poor connection or interest. Under performance can only be eliminated when workers have a common belief and vision.
What training will help bridge the gap between the standards of performance needed and the actual performance?
The business has an automated system which solves accounting cycle steps automatically as long as raw data is entered. The employees need to learn new skills to operate the new automated system. Therefore, training has two major way of linking the actual and standard performance in an organization. The first one is promoting accountability. It will be possible to trace back any activities to an individual since the system will have a user account for every accountant. The new feature of “tracing back” will enhance accuracy during data entry. The second approach is teaching employees on the use of the new software. The new software will minimize accounting workload.
Is there specific training that is needed in the training triad categories below?
Employees training will involve the provision of the technical training on the accounting software usage. Professional training will include four aspects. First, logging into respective user accounts after successful starting of the program. The second aspect is using the system to post entries as well as in checking errors. The other element is using the system in generating charts and reports revealing the firm’s financial performance trends. Finally, reversing entries made and to track the user who posted the entries. Also, training on business skills such as coaching and time management will be provided. Coaching training enables employees to assist their colleagues in using the system. Skills on time management enable the employees to know task prioritization as they conduct their duties.
What is the expected return on the investment (ROI)?
ROI is a used in investment’s efficiency evaluation or in comparing the efficiency of different investments. The firm will use an improved version of Xero accounting software. The company will spend $540 annually on the software inclusive of training expenditure. The firm will save $720 annually. The net profit is:
$720-$540 = $180
The cost of investment is $540
ROI = (Net Profit ÷ Investment cost) x 100%
= (180 ÷ 540)*100
=33.333% .Therefore the ROI of the investment is 33.33%.
What does success look like?
A business that operates or carry out their role in a unique way indicates success. A successful business has high revenue. High-income results when a company meets all the objectives, mission as well as vision. Thriving business concentrate less on “pushes” factor compared to “pulls” factors.
Do you have a budget for the training development?
The training budget is available. The training cost is minimized through the use of an e-learning platform. Initially, the employees were taught about the necessary computer skills which boost their learning process. The relevant stakeholders must approve the training budget. The main component of the training budget are the soft copy training manuals, brochures, and certificates. The facilitator fee is not included in the budget because the software offers free training as an after sale service.
Any other relevant information?
Training need analysis is crucial since all the business need is comprehensively understood. It also links the open gap in the organization. Nevertheless, having an appropriate objective before conducting training need analysis is mandatory. Research and innovation are vital areas that should be prioritized than training.
Barbazette, J. (2006). Training needs assessment: Methods, tools, and techniques. San Francisco: Pfeiffer.
Donovan, P., & Townsend, J. (2015). Learning Needs Analysis Pocketbook. New York: Management Pocketbooks.
Marr, B. (2015). Key Performance Indicators (KPI): The 75 measures every manager needs to know. Harlow: Financial Times/ Prentice Hall.