News: Performance Management
Investment in training 'essential in troubled times'
14 April 2008
Companies need to invest more in the development and training of staff during times of economic difficulty, according to an industry insider.
Victoria Winkler, learning, training and development adviser at the Chartered Institute of Personnel and Development (CIPD), believes that the credit crunch will put further pressure on development professionals "facing the prospect of budgetary squeezes".
However, she added that extra investment in employees can help offset the problems being felt in the global economy.
Ms Winkler said: "It is the application of knowledge and skills that drive profit in the private sector. Investing in learning and development in tougher economic times may be even more important than in the more benign circumstances of recent years."
Such issues are to be addressed at the CIPD's HRD Learning and Development Conference and Exhibition which takes place between April 15th and 17th at ExCeL, London.
A shortage of skilled managers and other workers was one of the Chartered Management Institute's predictions for 2008.
