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Trim the Budget, Not the Training

Trim the Budget, not the Training


When economic circumstances force us to cut business budgets, what should stay and what should go? Companies lay off staff and reduce inventory. They cut working hours and benefits. What about training programs? Is it wise to bring to a grinding halt an ongoing course of study for current employees who are to be retained despite the fiscal downturn?

One school of thought is best summed up by a quote from the late Zig Ziglar, sales coach, motivational speaker and author, in an article from CIO. He said, “The only thing worse than training employees and losing them is to not train them and keep them,” (Hassell 2014).

Even in hard times, there’s a certain aspect of “business as usual,” for the staff that is retained. They must continue to serve their clients with expertise, stay abreast of current trends in technology and field-specific innovation. To deny these employees the benefits of continued training is to place the business in jeopardy. In times of reduced disposable income, businesses must work harder to attract and retain customers. To serve them with an inadequately trained staff will undermine the opportunity to achieve a competitive advantage. When we reduce staff and increase the responsibilities of the staff that remains, they’ll need training to assume a broader scope of duties. “Jacks of all trades, masters of none” are a liability we can’t afford.

The flip side is to curtail all training until budgetary constraints are relaxed. This may work in businesses where training is primarily for new hires, because it’s presumed that hiring is frozen. It will also work if we have a business that doesn’t routinely provide training and professional development programs. However, with today’s rapidly changing technology, I’m hard pressed to think of such a business.

Knowledge really is power. Hard times mean we need to work harder, so why not train harder, or at least as hard. At a time when #faster, #better and #cheaper are instantly posted, tweeted and pinned, we need to step up and deliver. Now is not the time to fall behind.

Instead of sending a whole team to training, send one member, who will come back and train the staff in-house. Invite the trainer onsite, instead of flying everyone to Tahoe. Look into correspondence and online training programs for individual study. Consider initiating in-house certifications to document achievements.

Well-trained employees are valuable assets. Granted, investing in their education is a gamble. As Ziglar said, they may just take their newly acquired skills and be on their way. However, many will think twice about biting the hand that feeds them, as they continue not only to thrive, but also to grow in a weak economy.

References

Hassell, J. (2014, July 3). Why You Should Invest in Training Your IT Team. Retrieved March 15, 2015, from http://www.cio.com/article/2449658/training/why-you-should-invest-in-training-your-it-team.htmltraining-your-it-team.html.

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