Training Budgets to be Cut
Many training and learning and development (L&D) managers expect their budgets to be cut over the next 12 months. A survey of 120, carried out by polling organisation, Common Purpose, found that 44% expect cuts, 54% expect budgets to remain stable and just 2% expect an increase.
In terms of areas most likely to be cut, 53% cite non-skill specific training, 33% say soft skills, 32% cite team building, and 13% diversity (those polled could give more
than one answer to the question). Technical skills and leadership development are the two training areas least likely to be affected by budgetary cuts, the survey reveals.
Common Purpose chief executive Julia Middleton said: "As economic storm clouds gather, many organisations cut their L&D budgets in a misinformed attempt to see them through the tough times. This policy sends a pretty clear message to the people whose talent is the most highly valued, that the organisation's commitment to their L&D is short-term and wafer thin."
