Training in A Recession

The New Zealand government has just completed a summit to create more jobs and to get out of this recession.  There were 20 main ideas to come out of the job summit (http://www.stuff.co.nz/4862899a6479.html) and a couple of them were of interest to me:

• Keep people in education and add a training clause to government procurement contracts.
• Better matching of training to available job.
• Better support people affected by redundancy.

These ideas suggest training your way out of recession. Then I discovered this article for training your way out of recession (http://business.timesonline.co.uk/tol/business/career_and_jobs/article5062390.ece). 

Half the companies discovered that training staff made them more likely to stay. One-third found it increased staff motivation, and almost half actually saved money in the process.

“Organisations must focus on nurturing talent if they are to survive, grow and succeed. The continuous development and growth of people is inextricably linked to business performance.

So, there you are. Training is good for the company and good for the employee. Don’t cut your training budget as the money gets tight.