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It all depends on the resources and capacity of the company. If a company has the capacity of growth it always need fresh incumbents so in that case hiring fresh professionals is rather a good choice and if a company dont have much opportunities of growth, means it do not have the capacity of inducting new employees then it should decide to better train the existing employees upto the mark of their satisfaction level.
Training the old employees is better ... when they are able to learn fast and do the work with the same efficiency of the new people ... if not, hiring new people is the choice ....
Planning, also known as strategic planning or long-range planning, is a management-directed process that is intended to determine a desired future state for a business entity and to define overall strategies for accomplishing the desired state. Through planning, management decides what objectives to pursue during a future period, and what actions to undertake to achieve those objectives.
Training old employees (or thier continuous improvements) is a main part of all winning strategy implementations. And usually their progress determines the cost effectivness of any further development. On the other hand, employing experts could be part of that effort. Such experts are to train current staff both theoritically and on-job.
Both are required
At the end of the day the answer is "it depends". when you ask whats more important I take that you only have the resources to do one, if thats the case then we need to look at the objectives at hand.
If we need a new system to improve revenues then I would say go train the old employees in new ways or better processes, this raises motivation levels and drives salesforces to perform better.
If we are looking to move onto the digital platform or move into a new business market in the long term then get a new people in to implement high tech systems so that they can support any future endeavor.
Combine the two, because both are equally important.
Hiring new people to work with and implement new systems is vital, it keeps your organization healthy, op to date and fresh.
The above is important but your old employees know your business they have relationships with your customers and they understand your organizational structures and goals.
So combine the two, train the employees that need to be trained and hire the key employees with the skills you need for the new tech to be implemented.
