Abstract
Purpose – The paper presents the results of the study based on a sample of 358 organisations that focuses on further education and training (FET) of their employees. It specifically investigates which specific educational methods and various characteristics of organisations are associated with their financial performance. Research methodology – The Dependency Aware Feature (DAF) selection method from statistical pattern recognition has been used to identify which of the 37 considered variables are most associated with the profitability indicators (ROA, ROCE, ROS). Findings – The profitability indices are significantly associated with some of the specific methods of FET. Organisations should pay attention particularly to instructing, coaching and mentoring. The results also confirm the importance of talent management for organisations to be successful. Research limitations – The examined sample consists solely of organisations operating in the Czech Republic. Shortly, we plan to extend the selection by including organisations from abroad. Practical implications – The study provides recommendations for HR managers for the goals they should focus on. Organisations should evaluate the impacts of FET; otherwise increasing investments in it may not have an effect. Originality/Value – The originality of the current study lies in using a new methodology based on machine learning and respecting complex mutual relations among variables.
Highlights
One way to increase an organisation’s competitiveness and profitability is to focus on improving the value of its human capital, i.e., investing in employee development through further education to increase working skills, competences and knowledge
The multidisciplinarity of our approach is shown by using statistical pattern recognition methodology, which is a discipline of machine learning, artificial intelligence (AI)
Our study investigates the association of organisational financial performance with three groups of variables, namely 1) the characteristics of the organisation, 2) the characteristics of further education and training (FET), and 3) specific FET methods
Summary
One way to increase an organisation’s competitiveness and profitability is to focus on improving the value of its human capital, i.e., investing in employee development through further education to increase working skills, competences and knowledge. The authors point out that the processes through which educational and development programmes in the organisation lead to higher employee productivity remain unclear They state that research considering both the educational and economic perspectives should focus on multidisciplinary research projects. There is no doubt that these six characteristics investigated in Pudil et al (2019) represent only a small subset of those that are in some way related to further or continuing education and whose relation to organisation profitability is investigated In this follow-up research study, we explore a considerably enlarged set of variables, fully utilising the data from the questionnaire. The multidisciplinarity of our approach is shown by using statistical pattern recognition methodology, which is a discipline of machine learning, artificial intelligence (AI)
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