Book Description

SMEs are increasingly important to the economic growth of the economy. In response,governments have introduced a variety of policies to facilitate the formation of new firms and to offer support to SMEs to aid their survival foster improved rate of growth. There appears to be a strong linkage between the training and development and the level of growth within a country. The best HRM practice for improving employee's skills is training and development. Generally, Training and Development practices are an organization's intentional efforts to improve performance by helping employees acquire the skills and knowledge. Training enables employees to achieve the levels of knowledge, skill, and competence needed to carry out their work effectively and thus helps the growth of a business. One of the core objectives that every business should have is business growth. Sample of 60 from small and medium-sized enterprises in the Sri Lankan manufacturing sector that have embarked upon different growth development pathways; and to examine possible connections between small and medium-sized enterprise growth, and training and development. A few studies have been done on the above theme, but no studies have been conducted in Sri Lankan perspectives. Statistical analysis reveals highly significant differences in training and development, as well as training methods, providers and fields, across the low-, moderate and high-growth small and medium-sized enterprise development pathways. Furthermore, training is a relatively consistent concomitant with small and medium-sized enterprise growth.