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ational and domestic competition. To innovate and become competitive, its human resources have to innovate in everything they do, be it their minds, their thinking, their skills and competence.

While in the manufacturing sector, employee performance failures end up in the reject pile, in the service sector such as the banking sector; employee performance failures are external failures. Those mistakes are visible to the customer and thus every failure has a direct impact on customer satisfaction. Therefore, investing in people through training is a prerequisite. Employees who have the necessary skills can create powerful business advantages that can be very difficult for competitors to duplicate.

Countries like Japan are trying to substitute human beings with robots. Indeed, human beings are non substitutable because they possess intelligence and potential that can never be equaled and their inventions proved it. The Taj Mahal, the Eiffel Tower, the Pyramids, the Great Wall and now the computer are all the creation and invention of humans.

In Mauritius, government wants to make the Knowledge Hub another pillar of the economy. However, Mauritius is currently suffering from a massive brain drain. Many who are emigrating are highly skilled, such as Doctors, Accountants and IT Developers. School leavers who go abroad for further education rarely come back. As such, the best and brightest are lost to their home country, resulting to a lack of young and skilled people to drive the expanding market place. Therefore, the Human Resources Development Council is offering training grants where employers can recover up to 75% of training costs to encourage companies to provide training to a maximum number of employees.

However, it is still debatable whether the training grant is being used effectively since measuring training effectiveness has often been neglected. But simply having all employees attend a training event does not necessarily translate into an improved workplace. The main challenge for any training program is to ensure that the learning is transferred back into the workplace.

1.1 Structure of Dissertation

This study is structured as follows:

Chapter 1 provides a small overview of HSBC.

Chapter 2 offers a theoretical and critical background of the literature review.

Chapter 3 summarizes the research approach to conduct the study.

Chapter 4 provides a thorough analysis of the data obtained from the survey.

Chapter 5 consists of recommendations and provides concluding comments.

1.2 Benefits of the Research

The findings of this study are of major importance to HSBC as well as other companies as they assist them in adding value to their company by improving their position as an employer of choice through the delivery of effective training. The findings may also prove useful to lecturers, university students and anyone else with an interest in effectiveness of training programs.

2.0 Company Background

2.1 The HSBC Group

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