London (UK), August 2009 - 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 H Taylor, chair of the Learning and Skills Group's membership community of over two thousand L&D professionals that underpins both events says, "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. It found that four out of five business leaders were maintaining or increasing their spending on training.
"Too much is changing for businesses not to continue to invest in skills", adds Taylor. "Even organisations that 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, says, "In this economic climate, Lovells is not cutting back, but is rather 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, citing customer services and sales as being the kinds of skills that business continues to invest in instead of 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 have 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."
Learning and Skills 2010 is being co-located with the established Learning Technologies Exhibition and Conference on 27 and 28 January 2010.
