Survive the recesssion

Can Management Leadership and Development training be
 used as a tool to survive the recession?


According to the CIPD, Leadership and Development training is being pushed up the ladder of importance since the UK moved into recession. Despite the economic downturn, whereby company budgets are being slashed, a key focus for 2009/2010 will be to ensure Training and Development of management staff remains a key priority.

Although 36% of UK employers expect Training and Development funding  to be cut this year, 7 out of 10 of these still say Leadership & Development training of  their managers will remain a high priority regardless of the economic situation.

WHY?

As in previous downturns smart companies use the recession to increase training of their managers. By investing in this type of training these companies hope to, not only retain their staff thus reduce staff turnover and its associated costs, but also  to ensure that their management team deal with the recession by staying focused on the companies overall goals and objectives. This also ensures that when the economy recovers these companies are not caught short of strong managers who can deal with a possible sudden boost in productivity and have not become idle.

Another point that should be noted is the obvious - Leadership and Development training will ensure that customer satisfaction and quality is not compromised. In an economy where customers can afford to be “picky”  with their choice of suppliers, this is paramount if a business is to survive and remain at the top of their game.

IN REALITY

In general, if a budget is to be streamlined, the first department to be trimmed tends to be training. For most company directors resisting this “natural” urge will require the ability to be long-sighted in order to see that by investing in quality, effective Leadership and Development training, they may indeed aid their companies ability to ride out the recession and come through it stronger.


Related Topic:

Generation Y - Powerhouse of the Global Economy