Training expenditure holds up during recession

Learning and Skills, the new exhibition being co-located with Learning Technologies in January 2010, has found that expenditure on training is likely to survive deep cuts, as businesses respond to the changing economy by continuing to invest in skills that will be needed in the future.

Donald Taylor, chair of the Learning and Skills Group's membership community of over two thousand L&D professionals that underpins both events said: "Having experienced the recessions of the eighties and the nineties this one feels different. Training budgets used to be cut as a way of saving costs, whereas this time companies seem to have recognised the need to keep investing in skills. This is partly because new skills are essential to adapt to fundamental change taking place in business and the economy."

A recent report on the FT's web site quoting research from the IoD, corroborated Learning and Skills Group's observations: finding that four out of five business leaders were maintaining or increasing their spend on training and citing the same reasons for the shift in focus over previous recessions.

"Too much is changing for businesses not to continue to invest in skills," added Taylor. "Even organisations which are restructuring understand that remaining employees need extra skills. This is different from previous recessions, and will leave the organisations wise enough to invest in skills fitter and more able to adapt to change when this recession ends."

Claire Line, Learning Technologies Manager at Lovells, one of the largest international business legal practices, with over three thousand people, said: "In this economic climate, Lovells is not cutting back but looking to deliver training in increasingly smart ways. We're adapting and using alternative delivery mechanisms to ensure people still have access to training. People are busy, so whether we're delivering face-to-face or online, the training has to take that into account."

The FT's report cited types of training that business leaders' saw as essential, quoting customer services and sales as being the kinds of skills that business continues to invest in, over longer-term training such as degrees. Taylor agrees: "We've seen that businesses recognise the need to invest more in those skills that give an immediate return and that can quickly prepare their workforces for change. A good example is how social media has changed and transcended business communications at an unprecedented speed; those businesses with an inherent culture of learning are more likely to be able to adapt, also at speed. Along the way they quickly gain the additional essential skills that they need."

Learning and Skills 2010 is being co-located with the established Learning Technologies Exhibition and Conference on 27 and 28 January 2010.

For further information :
Contact name: Ian Smout
Contact e-mail: ians@learningandskillsevents.com
Contact telephone: +44 (0)1730 817600 and +44 (0)7920 146460

For further information on exhibiting at Learning and Skills :
Contact name: Jonquil Coy
Contact e-mail: jonquilc@learningandskillsevents.com
Contact telephone: +44 (0)7803 078239

About Learning and Skills 2010

Learning and Skills 2010 is being co-located with the established Learning Technologies Conference and Exhibition on 27 and 28 January 2010

The Learning and Skills Exhibition will showcase the entire spectrum of methods products and services available for workplace learning and employee development with a focus on people development, learning and performance, learning resources and HR systems and services.

Built around a multi-streamed programme of more than 50 free seminars, Learning and Skills will be the must attend event for the HR and L&D community.

For more information please visit www.learningandskillsevents.com

About Learning Technologies 2010

27 and 28 January 2010, Olympia 2, London

The Learning Technologies Exhibition and Conference is Europe's leading showcase of the technology used to support learning at work.

With 130 exhibitors, 50 free seminars, more than 3,000 visitors and over 400 conference delegates, Learning Technologies is the must-attend event for all learning and development professionals.

For more information please visit www.learningtechnologies.co.uk

Back to news