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T H E N E E D F O R T R A I N I N G I N

T U R B U L E N T T I M E S

11639 E. Wethersfield Road, Scottsdale, AZ 85259 USA

www.michaelsandassoc.com Toll-free: 877-614-8440

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When tough times hit an organization, leaders have a tendency to immediately

look for ways to reduce costs. If you’ve been in the training industry for any

amount of time, you’ve probably seen that training budgets are among the first

to be cut. This mindset, however, is contrary to what recession-hit

organizations should consider.

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T H E N E E D F O R T R A I N I N G I N

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Typical Tendencies

One of the worst things a company can do during a recession is to eliminate training. Why?

Consider these typical tendencies of an organization facing tough times:

It’s almost certain that employees will be let go. What impact does this have on the

remaining employees? They take on new responsibilities to fill the holes, some of

which are not part of their existing skill set.

Employee productivity might be affected by fear of more cutbacks, lowered morale, and

stress over their new responsibilities.

When recession impacts an organization, the natural reaction is to cut expenses in any

department that doesn’t show a direct link to revenue generation. In fact, training and

documentation often have a vital, although indirect, link to a company’s recovery from

turbulent times.

Hiring is usually frozen. But what if the existing employees are unable, or unskilled for

the company’s shift in needs? The cost of replacing employees has associated costs

and liabilities.

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Training Helps! Developing training during turbulent times can alleviate some of the worst symptoms of an economic instability:

Training promotes better morale, productivity, and sales.

Employees appreciate any opportunity for skills development. Training

improves learners’ self-esteem, which in turn improves their morale in

the workplace and their loyalty to their employer. An added plus: there’s

a definite link between happy employees and satisfied customers,

which leads to better financial results for your company.

Employees need to learn new skill sets based on their increased

responsibilities, and training is the most effective means.

You may not have the money to invest in formal classroom training or

hours of e-learning, but with a minimal investment, you can develop a

blended learning plan that meets learners’ needs. For example, you can

develop emails, blog articles, wikis and online knowledge bases to share

information. You can even set up an online bulletin board or use a social

media tool (Facebook, Twitter, LinkedIn, etc.) where employees post

questions and a subject matter expert

answers them. Turbulent times

call for creative measures!

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Training Helps!

Training can actually save money.

Consider supervisory time and costs involved with monitoring and

guiding employees. By investing this same cost in employee training,

you satisfy two needs—better trained employees and more time for

supervisors to spend on income-generating tasks.

Training forces organizations to evaluate current processes.

The first stage in any training development process should be analyzing

current tasks and processes. During this stage, you have the opportunity

to rethink how and why you do things, and you can determine areas for

improved efficiency. Then, when you train employees on these improved

processes, you can achieve new levels of productivity.

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Training Helps!

Training during turbulent times insures that your company is at its

best when the economy stabilizes.

Focusing on the future through training insures the organization

withstands the current instability and is poised for action when the

economy stabilizes. Your company can enjoy a competitive advantage

if your employees are a well-trained and responsive team, especially

since your competitors may continue to

be bogged down in the malaise of

turbulence. This scenario puts you in

the driver’s seat in your marketplace.

It also makes training and

documentation your direct link to

success and improved revenues.

Training enables an organization to hire new, more talented people.

A fundamental management philosophy is that one great employee

replaces three good employees. To attract and keep ‘great’ talent, you

must offer training programs in your suite of benefits. This investment

entices the ‘great’ ones and keeps them challenged, involved, and loyally

invested once hired. Great people usually mean great customer service,

and (in turn) better revenues.

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Brighter Future Ahead

During tough times, processes must change to meet the challenges, or chaos can ensue. Keep your existing employees well-trained and ready for the

good times ahead. Learn to embrace slowdowns and take advantage of the time to reevaluate your processes, hire and keep great performers, and

invest in your future.

"Any company has to recognize that not only is the human capital

of their employees a major asset, it is also a depreciating asset

that needs continuing investment."

~ Nobel Laureate Gary Becker

Professor of Economics and Sociology at the University of Chicago

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Michaels & Associates can help you implement learning solutions that improve employee morale and performance, even in the toughest times. Feel

free to contact us for more information. Michaels & Associates — training happens here every day.

info@michaelsandassoc.com www.michaelsandassoc.com toll-free: 877-614-8440