The impact of employee training and skills development on the growth of financial companies

Economic Annals-XXI: Volume 212, Issue (11-12), Pages: 16-21

Citation information
Toshpulatov, M. (2024). The impact of employee training and skills development on the growth of financial companies. Economic Annals-XXI, 212(11-12), 16-21. doi: https://doi.org/10.21003/ea.V212-03

Murodulla Toshpulatov
PhD (Economics),
Department of Corporate Finance and Securities,
Tashkent State University of Economics
Islom Karimov 49, 100066, Tashkent, Uzbekistan
m.toshpulatov@tsue.uz
ORCID ID: https://orcid.org/0009-0000-4515-2903

The impact of employee training and skills development on the growth of financial companies

Abstract. Training and development of employee skills in financial companies is of great importance. This article examines the impact of training and skills development on the growth and better performance of financial companies. The statistical population in this study is employees and managers of financial companies in Tashkent, Uzbekistan during the years 2020-2024, who were randomly selected, and the following results were obtained: 1) Trained managers perform better and are more effective in establishing human relations and creating an intimate environment than untrained managers from the perspective of teachers. 2) Trained managers perform better and are more efficient in giving importance to employee training. 3) Trained managers perform better in welcoming changes and innovations in the organization. 4) Trained managers have higher performance in terms of self-confidence in doing things than untrained managers. 5) Trained managers perform better in terms of complying with job descriptions than untrained managers from the perspective of teachers. Also, the positive effects of training on improving employee performance and organizational growth were examined. Effective strategies for implementing training and skills development programs in financial companies are also examined. Finally, the importance of measuring and evaluating performance after training and skills development is emphasized, and criticisms and suggestions for improving these programs are presented.

Keywords: Financial Company; Human Resource Management; Training; Skill Development; Employee; Manager; Innovation

JEL Classifications: Е24; Е41; Е64; I18; J28; J31

Acknowledgements and Funding: The author received no direct funding for this research.

Contribution: The author contributed personally to this work.

Data Availability Statement: The dataset is available from the author upon request.

DOI: https://doi.org/10.21003/ea.V212-03

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Received 15.09.2024
Received in revised form 29.09.2024
Accepted 2.10.2024
Available online 28.12.2024