| Corporate learning and
development budgets are already coming under increased
pressure. L&D professionals are having to work even
harder to get more from less resources.
Of course every cloud has a silver lining. A significant
amount of training budget is expended as a result of
induction training for new starters in high staff-turnover
environments like call centres and in major retailers.
As a result of the down-turn, ‘staff churn’
has suddenly dropped off. An absence of growth combined
with improved staff retention may mean that significant
cost savings will be made in relation to induction training
in 2009. If these cost savings are higher than expected
then other areas of learning and development could benefit
in the short term.
Organisations offering blended learning and e-learning
solutions already seem to be benefiting from a resurgence
of interest in more scalable solutions, without the
overhead costs associated with face-to-face training
delivery.
Of course there are some forms of training that employers
simply cannot cut, without risking disproportionate
financial penalties. After years of market liberalisation
sentiment has has turned a corner as a result of the
fall-out from the credit crunch and ethical concerns
in relation to the sale of financial products, telecoms,
energy and utility services. More intrusive regulation
is on the way, especially in the financial services
sector. One outcome of this is likely to be an increased
level of investment in compliance training. As the scale
and scope of regulation intensifies learning and development
professionals with a track record in regulatory and
compliance training could well reap some benefit in
the medium term, despite the economic slow-down.
L&D professionals specialising in customer service
and sales training are also likely to get an appreciative
hearing from employers thanks to increasingly cut-throat
and competitive markets where the customer with cash
is king.
When it comes to business development, learning providers
will certainly need to work harder and far smarter just
to maintain their existing level of business in the
coming year. Experience suggests that those offering
sought after or ‘marketable’ qualifications
will be better-placed to weather the coming economic
storm.
In summary, I think we can all look forward to
an very unsettled period of sunshine and showers. So
keep your Factor 30 and your umbrella close at hand.
It pays to be prepared! |
