Companies face changes and demands from business environment, which can cause training and development needs. Training and development actions are aimed to enhance individual competencies, which can be defined as skills, knowledge, behaviour, attitudes and values. The actions must be aligned with the company strategy to ensure transfer of training. This can be done by following a four step human resource development cycle. First, to conduct a training needs analysis. Second, to design correct training actions. Third, to deliver training actions. Finally, the training actions must be evaluated. In a training needs analysis the actual competency levels are compared to the expected levels, to determine any possible training and non-training needs. In addition competencies can be classified according to Nordhaug´s competency typology, based on the levels of task, firm or industry specificity. This book provides a useful tool for company management how to determine required competencies and reveal possible training and development actions. Furthermore bring insight how to save resources on recruiting, training and retention processes.