Companies aren't slashing training spend, they are increasing it
David Woods, 30 June 2009
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1 comment on this article.In a bid to fight recession 80% of directors say their organisations have maintained or increased their training budgets over the past six months.
The Institute of Director surveyed 1,000 business leaders and found rather than slashing training spend, employers are putting more of a focus on it. But 46% said they are putting more emphasis on short courses designed to meet essential business needs rather than longer-term ‘investment' training.
Respondents believe training can improve employee morale (76%), boost productivity (74%), enhance customer satisfaction (69%), aid staff retention (62%), increase market share (37%) and improve recruitment (21%).
Miles Templeman, director general of the Institute of Directors, said: "These results show the fundamental importance of skills and training to our members. Even under considerable pressure, training budgets have not been hacked back. Compared with the last recession there is a feeling that, in the words of one director, there is ‘a definite difference this time'.
"Directors are emphasising that maintaining training now will help position their organisations well for the upturn. Many businesses are looking for opportunities in the downturn - the mood is firmly one of innovation and determination, not defeatism."
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Steve Milner - 02 July 2009
It's great that companies are finding funds in their own budgets for training. Even though it might be 'tactical' rather than strategic, at least it's for training they deem neccessary.
Contrast this with Government \(taxpayer) funded training which trickles through layers of brokers and bureaucrats, with what's left - after 'frictional losses' - spent on awarding NVQs in various skills of variable and often dubious benefit to individuals and their employers. Or are these just designed to keep the under-employed off the streets?
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