Importance of Investment in Training and Development in Times of Global Recession
Employee training and development can be specified as an important aspect of HRM and these importance further increases in times of global recession. To put it simply, times of global recessions and consequent challenges for businesses in many levels puts extra pressure for management at all levels to be more adaptive, flexible and focused. Accordingly, only highly qualified and motivated employees at all levels would be able to safeguard their company from becoming a history in times of economic uncertainties.
Commitment to employee training and development in an effective manner can provide businesses a set of advantages such as high level of employee creativity, increased level of motivation to perform duties at work.
In devising and implementing employee training and development programs individual learning styles of employees need to be taken into account and addressed in correct manner. Generally, learning styles are divided into seven catagories: visual, aural, verbal, physical, logical, social, and solitary.
Furthermore, the provision of training and development programs for the workforce needs to include the principles of classical conditioning. Specifically, known as learning by association, conditioning theory highlights the role of stimuli and unconditioned response to it during the learning process.
A high level of importance of investment in employee training and development in times of global economic recession is appropriately acknowledged by Emirates Airlines, one of the main players in the global airline industry. Specifically, amid growing challenges for the airline industry due to the global economic crisis, Emirates Airlines employee training and development programs and initiatives including Learning Resource Centres, My Learning Zone portal, and annual professional development courses were not impacted by company cost-saving programs.
Organisational managers are recommended not to compromise the quality of employee training and development due to cost saving considerations in times of global economic recession. Such a practice would result in a negative impact on organisational performance
Managers have to ensure that training and development programs have to correspond to employee personal and career development plans and this correspondence needs to be effectively communicated to employees in order to generate high level of engagement.
Obtaining feedback from employees upon the completion of training and development programs is also important in a way that this feedback can be used to increase the level of effectiveness of future relevant programs.
Moreover, managers are recommended to increase the integration of information technology in devising and facilitation of training and development programs for the workforce so that positive impact of such programs can be increased.