T&D Investment Determinants among South Korean SMEs: Integrative literature review on training and development investment

다국어 초록 (Multilingual Abstract)

This study explored the determinants of training and development (T&D) investment in SMEs. This review on the determinants of T&D in the enterprise is for that T&D can act in the right place. This study derives integrative conclusions from literature analysis related to the subject of education and the training investment decision of SMEs. We searched the articles on T&D investment of SMEs (Korean and foreign context) via Keywords 'enterprise,' 'T&D,' 'T&D investment,' and 'investment decision factors.' The analysis criteria are based on the following four areas of HRD definition; personal development, career development, organizational development, and performance management. Since this study has a particular interest in SME, T&D determinants, the four-term has revised as the four terms follow; learner characteristics (personal development), organizational characteristics (organizational development), financial characteristics (performance management; since this study aims to find investment determinants), and job characteristics (career development). What we have found from this study are as follows. First, Korean SMEs conduct all-inclusive types of T&D. There were no boundaries in the curriculum, from general skill to job specific skill development. Besides, the T&D motivator is not only the corporate itself but also Employee Skill Development Policy, the support at the national level. The company provides financial assistance for investing in T&D as well. Second, the literature review regarding investment in T&D were mostly qualitative research. T&D investment features defined into four shares; job, organization, finance, and learner characteristics. However, studies method on T&D investment outcomes vary, but a few studies show that relatively few corporates consider investment features before conceded the T&D program. Third, the determinants of the T&D investment of SMEs vary. The determinants in every four areas show exceptional findings. Even it is for SMEs; there is no universal reason to invest in T&D. It differs in size, finance structures, and related tasks. However, the overall trends in determinants were on diversity in recent years. SMEs are making efforts to provide training that meets the needs of corporates and employees both. SMEs' T&D investment determinants are wide-ranging according to their size, finances, and related jobs. Nonetheless, the overall determinants of training are initiated to the worker (training consumer) needs.

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