A cash cow is a business or a product that is profitable and brings in a steady flow of income. Cash cow may as well be used to refer to a business that generates more profit compared to the cost that was spent in its creation. One good example of a cash cow business organization is Alcon Company. Alcon is an international medical firm that has specialized in eye care products and has its headquarters in Texas. Through training and development, the company has had tremendous growth and has also improved its effectiveness. Effective training and development have seen the company save on its labor and have also helped reduce the time the company spends to solve problems. In the long run, this has also helped the company to continually produce a better workforce.
Through training and development, self-esteem and satisfaction of employees at Alcon Company have improved tremendously. By having a better understanding of their job, effectiveness at the company hence also improves. In addition to that, training enhances an employee’s morale in their job as well as his/her loyalty to the business. It is through training that workers at Alcon Company are less likely to leave the firm.
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Training and development have also had an impact on employee turnover cost. By keeping employees who are well-trained, Alcon Company has greatly cut on its cost employee turnover cost. Such costs include replacement costs and separation costs. Generally, the effectiveness of the company has greatly improved as a result of incorporating the training and development of its employees. Since its foundation back in 1945 Alcon Company has moved from a small pharmacy it started as and has now grown to be an international company.
