subject: Will Training Help Your Business Recover In 2012? [print this page] The recent economic downturn and subsequent recession has created a challenging backdrop against which many businesses are struggling to operate. Usually, the first avenue of expenditure to be cut is in training. However, can training help your business to remain resilient in the face of adverse economic factors, and can it help it recover in the future?
Decisions, Decisions.
Although cutting the training budget may seem a little short-sighted, it is not difficult to understand why this decision is often taken. As businesses struggle to balance their books, they look for the 'expendable' parts of their expenditure. The problem that is often overlooked, however, is that it can often take years to re-establish this training, by which time the company's performance could well have been adversely affected. Far better to train through a recession and give your staff the necessary skills with which to combat it.
In a positive economic climate, many businesses have the time, resources and money with which to train their entire workforce. A lack of these means that you will have to prioritise aspects of your training. An important part of training during a recession is to select the right individuals to be trained. Rather than opening the doors to everyone, you should consider just whose long-term future you feel secure in investing in. Although you may only be selecting a few, key personnel, the fact that you are training at all communicates the idea to the rest of your staff that you are committed to the future of the company and its entire staff. This builds mutual commitment and a culture of progression and cohesion; vital when the going gets tough.
Choosing your trainees carefully can also reduce the cost to the company, both financially and in terms of man-power. Some training programmes will require days off for study, in addition to the training days themselves. Whilst your trainees are absent from their posts, you may need to hire replacement staff. Select those staff whose absence need not interfere with the day-to-day running of your firm, or whose work ethic is such that they will catch-up with assignments quickly and without fuss.
Beyond the Business.
Training your staff during a recession also sends a message to your clients. It says that you are committed to improving your services and keeping your 'edge' at all times. Where other companies fail to train, your decision to do so can only help to increase the value of your reputation and increase the profile of your brand. Word of mouth is still one of the most effective methods of attracting new clients, and maintaining a positive stance, even through the hardest times, gives you credibility where others may crumble.
Once the downturn begins to improve, you will notice your team performing more efficiently than before. While they may have been used to working as a tight unit during a recession, their skills will appear even more pronounced during recovery. This will give your company a leg-up as things start to take off, helping you to recover quickly and efficiently.
