The learning and development function is vital to economic recovery and to ensuring that organisations are well placed for the upturn. The economy also needs effective learning and development (L&D) to increase skills utilisation within the workplace and drive the productivity benefits.
Companies that do not train are 2.5 times more likely to go bankrupt, and they are less likely to retain vital talent. Organisations in the UK already spend £38.5 billion on training. Some of this spending is coming under pressure in tough times and L&D and HR professionals need to ensure that spending is efficiently allocated and that L&D policies fit with business objectives.
The impact of the downturn
In our War on Talent? research, just over a quarter (26%) of respondents report that their organisation has been forced to change its approach to talent management as a result of the current climate, with private service organisations most likely to be affected.
This new web area is about helping to promote the value of learning. We have developed a guide with resources and examples to help you to position the value of learning within your organisation.
Our hot topic report on innovative learning and talent development is designed to equip learning, talent and development (LTD) professionals with knowledge, skills and insight – not only for recession, but to fit with all phases of the business cycle.