OI Partners Newsletter: Training & Learning in an Economic Downturn

Training & Learning in an Economic Downturn

May 2009

In this issue:
• Training Cuts Often Result in Higher Costs
• Is the Economic Downturn Creating the Perfect Storm?: Continuing the Investment in Training & Development
• Employee Training in a Recession
• Justifying Training and Development in Tight Times
• Relevance of Learning versus Relevance of Training and Development

Many companies have reduced or eliminated their training and development functions in recent years. It has often been one of the first casualties when a company is "belt tightening." Unfortunately, it has often had the opposite effect on their bottom line, particularly when evaluating the performance of their middle management team who are not necessarily prepared to perform within their current responsibilities. The following articles address potential problems of cutting training all together, as well as some ways to make the most of your training dollars for the biggest return on investment.

Sincerely,
Ronald F. Ennis, Ph.D., CMF
Jean Erickson Walker, Ed.D., CMF

OI Partners Newsletter: Training & Learning in an Economic Downturn Summary

Training Cuts Often Result in Higher Costs
Over the last year, the U.S. corporate training market saw its greatest decline in more than 10 years. Radical or indiscriminate training cuts in economic downturns can be risky. It could end up costing your company more than you imagined.

Is the Economic Downturn Creating the Perfect Storm?: Continuing the Investment in Training and Development
With businesses reeling from huge losses, it is hard to imagine spending dollars on training and development, which could be viewed as a luxury item. Most of us know from past experiences that things get better and when they do, will our businesses be ready for the increased demand for our products and services?

Employee Training in a Recession
The benefits of employee training must be considered within the context of the real world. The organization that sends an overworked, overwhelmed employee to class is wasting its money. Here are some insights for making sure your organization is getting the most from its training investment.

Justifying Training and Development in Tight Times
When the economy is tight, and your boss has ordered you to cut your budget by 15 percent, justifying training programs can feel like an uphill battle. Here are a few practical suggestions for maximizing your resources.

Relevance of Learning versus Relevance of Training and Development
One way to get ahead of operating on smaller budgets with smaller staffs is to know the difference between "learning" and "training and development"-and to understand the relevance of each in terms of your organization's environment and the overall environment. Here is how.