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Corporate Climate Primed for Training & Development: Time to Start Spending Now!

Categories: Professional Development

From all I am reading, corporate profits are increasing, and corporate spending continues to decline.

Given the overspending environment we had in the ‘90s, and early ‘00s, this is and understandable trend. But is this long-term thinking?

Where should money be spent if we are looking to the future? I suggest two primary areas:

  1. Hire expertise. Look for qualified individuals who can excel in the new business environment. This means employees who have diverse backgrounds and understand the importance of building relationships -- and, of course, people who are able to communicate well.
  2. Have offerings that retain and engage current employees. What does this mean? Of course, money is always nice, but it isn’t the only option. Training and career development programs are critical. What knowledge and skills do your current employees need in order to excel? Although web-based training is less costly, it won’t replace the power of face to face. In times like these, the ability to build relationships helps the bottom line. Period.

We are seeing some of the most successful companies realize this, and are, therefore, increasing their training budgets.

Given that this is the new “normal,” companies can’t continue to wait and see what happens and still maintain the necessary edge.

It’s time to start spending, so you can measure the return!

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