An organization which stops providing training opportunities for employees to save money is like the guy who stops a clock to save time.
Paraphrased from Henry Ford.
Okay, economic times are tough. Budgets need adjusting. The fat must be trimmed.
But is the investment in the on-going development of your employees an example of “fat”?
Not in my book. It’s precisely because times are tough and budgets are strained that you should find ways to continue to invest in your employees. Everything from developing their technical and interpersonal skills to learning better ways to manage their stress.
Think long and hard about slashing your “training” budget. Get creative, but don’t make training the first thing to go. It’s a false economy.
Your thoughts?
I totally agree!
I’ll mention your article on Friday’s home page.
In the 1980′s and 1990′s I always faced resistance from management over spending money for training.
The best phrase I ever borrowed for my corporate memos is, “If you think training is expensive, try ignorance.”
Webinars and in-house mentoring often work well when budgets are tight, in my experience.