Introduction
Training budgets within every organisation are under threat. The global financial situation continues to worry UK and international executives and many organisations are reducing costs. Organisational training and development is often one of the first issues to be reduced and there is a ‘perceived’ need to lower the level of investment in organisational learning and development in order to immediately reduce costs.
This short term view is flawed and research has shown that investment in organisational training and development, in order to increase the skills and knowledge of key staff, increases productivity, improves organisational efficiency and raises staff morale, delivering a cost effective return-on-investment throughout the organisation.