TEM Journal. Volume 5, Issue 4, Pages 487-491, ISSN 2217-8309, DOI: 10.18421/TEM54-12, November 2016. TEM Journal – Volume 5 / Number 4 / 2016. 487 The Effects of the Training of Human Resources in the Banking Sector in the Country on their Productivity and Effectiveness Aleksandra Cibreva-Jovanovska 1 , Biljana Buzlevski 1 , Aleksandar Dejanovski 1 Irena Korubin 1 1 MIT University-Skopje, 3-ta Makedonska Brigada b.b., Skopje, R.Macedonia Abstract - The purpose of this paper is to investigate the conditions of the work force in financial institutions, i.e. banks in the country. The focus of attention is focused on the training of employees as a key factor in achieving the high performance and employee development, and thus higher wages. This means that certain banks are supporting the payment of short-term bonuses and premiums, and the others, valuing proportional growth in wages over time, based on a fair evaluation of the development of each bank employee. Keywords – Human recourses, banking sector, training. 1. Introduction Managing human resources comes from the Stone Age, when the tribes chose their elders. Later in China were applied tests for evaluating employees, and implementation of staff training was applied even in Ancient Greece.[1] Lately, all these features are part of the management of human resources. Great industrial revolution in the late XIX century contributed to the establishment of special departments which are responsible for the DOI: 10.18421/TEM54-12 https://dx.doi.org/10.18421/TEM54-12 Corresponding author: Aleksandar Dejanovski, MIT University-Skopje, Skopje, R.Macedonia Email: dejanovski_a@yahoo.com © 2016 Aleksandra Cibreva-Jovanovska et al. Published by UIKTEN. This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivs 3.0 License. The article is published with Open Access at www.temjournal.com care and improvement of their employees, especially in organizations with more than 100 employees. The way it is performed depends on the characteristics, abilities and skills that their employees possess. The same happens in organizations with fewer than 10 employees, where the training and advancement of the employees is being performed by outsources. 2. Importance of training In a highly competitive economic context, characterized by such phenomena as the globalization of markets, changing customer demands and increasing product-market competition, people and the way they are managed acquire greater importance because many other sources of competitive success are less powerful. But, to achieve competitive success through people involves changing our way of thinking about employment relationships. It means successfully working with people, and seeing HR as a source of competitive advantage rather than as merely a cost (Peffer, 1994).[2] HRM is important part of the organization. This sector is managing all the staff and employees, from recruiting, selection, training, developing and retaining in the organization. Billions of dollars are spent each year in training in an effort to increase productivity so businesses can stay competitive in the face of fierce global competition and a rapidly changing environment.[3] “TraininР can bО dОПinОd as thО systematic process of enriching and expanding the knowledge, skills and attitudes of people to provide better and more efficient performance of the work at the specific workplacО.”[4] The organization should do the training to all of employees to increase the performance, if it wants to keep up with changes. People need to learn continuously and don’t stop whОn thОy Пinish compulsory education, especially when talking about