Almost nine out of ten HR professionals (88 percent) believe staff training can address current challenges.
Despite this, over half (57 percent) of those questioned in an HR survey say that staff training is one of the first budgets to be cut during bad times. Recently, there has been much focus on the effects of the current economic downturn and impending recession, including streamlining businesses by cutting budgets. The survey, “Staff training during an economic downturn - opportunities and threats”, was designed to establish the views of HR professionals regarding the importance of training and learning in uncertain economic times.
Key findings emerged when HR professionals were asked about the effect of the economic downturn on training budgets. An overwhelming 80 percent agree that cutting training budgets at this time causes more problems than it solves, while 83 percent acknowledge that staff training is just as important during recession as when times are good.
Commenting on the research, Dr Dirk Thissen, managing director at IMC (UK) Learning Ltd, says: "The research clearly shows that HR professionals place a high value on training staff whatever the economic situation, which is extremely encouraging. During times of economic uncertainty more than ever it is essential to have a competent, skilled workforce. What is worrying, however, is that training budgets are high on the list of cuts when streamlining a business operation. It is clear that HR practitioners will be asked to do more with less as recession sweeps the UK."
