Train Your Way out of Recession

Well I would say that wouldn’t I? Of course – I am in this business because I believe in the value of developing people, but in these hard times a lot of organisations are cutting back on training and it is encouraging that articles like this appear to fuel the debate and hopefully encourage people to think carefully before making potentially counter productive cutbacks.
The full article can be accessed by clicking on the blog title, but highlights follow:
Investing in your staff will improve productivity and save you money
Britain’s employers are being urged to “grow their own” after researchers at Cranfield School of Management discovered that investing in training not only saves money but is more effective than shopping around for talent.
The report, Nurturing Talent, is the first to compare the impact of recruiting externally with that of developing employees. Three quarters of the 1,189 companies involved in the study felt that training their own staff was more beneficial to their business than recruiting people from outside. 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.
Much of this may be obvious, but useful to have some hard facts to go with the strong feelings!