Companies that use innovative training and development practices are likely to report better financial performance than their competitors that do not. Training and development also help a company develop the human capital needed to meet competitive challenges. Many companies now recognize that learning through training, development, and knowledge management helps employees strengthen or increase their skills directly impacting their job performance, satisfaction, and career advancement.

Training has moved from an emphasis of a onetime event to the creation of conditions for learning that can occur through collaboration, online learning, traditional classroom training, or a combination of these methods. The 8th edition covers and addresses the changes in training and development from an employer and employee perspective-adding value to the employer and employee.