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The Importance of Funding Resources for Human Resource Development

Author

Listed:
  • Leontin Gheorghe

    (West University of Timisoara)

  • Elvira Vasut

    (Bega School Sports Club)

Abstract

This paper aims at studying the regulation framework in the field of education and continuous training of human resources, appropriate literature, statistical data and carrying out a case study regarding the financing of human resources development in a company that activates in the energy sector. The case study is based on the analysis of the company Colterm S.A. from Timisoara, based on annual data provided for the period 2011-2015. The main conclusions relate to the fact that the expenses forecast regarding the employee professional training is not based on the analysis of training needs, and the company does not use tools to measure the impact of training programs on the company's economic development. Generally, the benefits of training programs are limited to solving legal requirements, obtaining competency certificates, or improving the skills needed for performing work activities by not studying the impact of human resource development on the company's performance.

Suggested Citation

  • Leontin Gheorghe & Elvira Vasut, 2020. "The Importance of Funding Resources for Human Resource Development," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 937-944, August.
    • Handle: RePEc:ovi:oviste:v:xx:y:2020:i:1:p:937-944
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    More about this item

    Keywords

    training; human resources; financing; skills; performance;
    All these keywords.

    JEL classification:

    • M52 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Compensation and Compensation Methods and Their Effects
    • M53 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - Training
    • K31 - Law and Economics - - Other Substantive Areas of Law - - - Labor Law

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