Investing in Training as a Way Out of Recession
In my previous blog posted on 16 March I summarised some of my findings that emerged from my research into leadership in downturn emphasising the importance of investing into training and development during recession. Interestingly, the UK Government shares this view. On the UK Commission for Employment and Skills web site http://www.ukces.org.uk/Default.aspx?page=4767 it is stated that the new campaign has been launched to encourage employers to invest in training to help survive the recession.
Various ministers have signed an open letter (to be published in the national press this week) providing details of the new ‘Now is the Time’ National Training Award developed by UK Skills. The letter urges employers not to cut training to save costs but to invest in training and development in order to re-skill and build workforce talent and gain competitive advantage for when recovery comes. This initiative encourages employers, who have invested in skills during the recession, to share their experiences and get public recognition for their commitment to training and re-skilling.
Chris Humphries, CEO of the UK Commission for Employment and Skills said: “Cutting training budgets can be seen as a quick way to save money during a recession, but now is precisely the time to keep investing in the skills and talents of people. The skills of an organisation’s workforce are its best guarantee of future prosperity and the best investment a business can make in these challenging times.”
At Senior Executive Excellence, we provide leading-edge training (e.g. EMERGENT Leadership Programme http://www.seniorexecutiveexcellence.com/emergent-leadership-programme/) focused on improving personal and professional performance that can help companies to deal with the recession and grow stronger in this challenging time.
