Question

Swot analysis of Retraining people ( give 3 examples for each category ). 3 for strengths , 3 for weakness, 3 opportunities and 3 threats. EXPLAIN WHY

Answer 1

This assessment will provide a SWOT analysis of retraining people:

Strength:

1. Updated skills:

the organization will get employees with updated skills, which will increase the efficiency and productivity of the overall organization.

2. Better product:

the organization will get a better outcome or product because of the training provided to the organization's employees.

3. Specialization and professionalism:

if they retrain an organization's employees, then that every train will help in gaining specialization and professionalism in the organization.

Weaknesses

1. Inclusion of cost:

it will be costly for organization to provide training repeatedly to the same employees instead of going for a new hire.

2. Lack of creativity :

The organization is not hiring any person from outside the organization. Thus, retraining will not increase innovation and creativity potential in the organization.

3. Time-consuming:

The whole retaining process is very time consuming, and it can reduce the time left for employees for actually working for the organization.

Opportunities:

1. Gaining new skills for the organization:

retaining people provides an opportunity for forty for an organization to learn new skills to better work and increase the organization's efficiency.

2. Job enhancement:

if the organization provides retraining to the organization, it will improve their overall skills and increase their potential, causing job enhancement to the employees.

3. Improved morale and job satisfaction:

Retraining people will help the organization provide job satisfaction and boost the confidence of the employees as they know that they can do something good for the organization.

Threats:

1. Risk of an employee resigning organization:

if the employee leaves shortly after getting retraining, then the organization will have to suffer losses.

2. Digitalization and artificial intelligence:

Today is the era of mechanization and digitalization. Retaining people is not equivalent to adopting artificial intelligence, which would have provided us better benefits, and competitors might have adopted it.

3. Work hindrance and disturbances:

The workplace's core work is at disturbance and hindrance because of retraining employees as it impacts a lot on overall productivity and output amidst of training.