Standards for Skill Training and Development

Abstract

Human capital is seen as one of the key factor conditions contributing to national competitiveness and economic performance (Porter, 2002). Productivity performance of OECD countries tends to correspond to the skill levels of the workforce in specific countries. Hence, governments increasingly view human capital formation, both quantity and quality of workforce, as one of the key levers in ensuring sustained productivity gains and standard of living. Skill development of the workforce requires major investments beyond formal schooling. It demands ongoing training investment in continued education and workplace training in order to help the workforce keep pace with technological innovations and continued adoption of new technology in the workplace. Private and public partnership in this context dictates both the government and private companies and organizations participate in the training effort. Investment in training requires effective and efficient methods, which in turn calls for sound and robust management tools and standards at the micro (firm) level to ensure continuity and sustained efforts. This article examines two training related standards, “Investors in People” (IIP) and ISO 10015, in order to identify similarities and differences of these two instruments.