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Training during global recession - Essay Example

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There is an immediate resort to caution, consolidation, and cost-cutting, the last often pursued as a knee-jerk reaction to the…
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Training during global recession
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Training during global recession

Download file to see previous pages... This paper will posit the various views stating why it is an unwise move for the company to discontinue its training programmes.
Galagan (2009) views the effect of the economic challenges of 2008 as motivators for greater precision and efficiency in the execution of business strategies. There is a move towards more constrained use of resources, including people. At about the same time, however, there is an accelerating retirement trend among the Baby Boomer generation, creating a skills gap in several organizations. This is apparent in the rehiring or extension of retirees and retirables in jobs that require specialized knowledge and skills, and for which there is a dearth of qualified younger workers.
The confluence of forces that bear upon industry’s manpower complement sometimes create perplexing developments. For instance, the grim economy has manufacturers and other businesses laying off record numbers of workers, yet at the same time there is strong, unsatisfied demand for employees that have anxious companies begging on their knees (Cadrain, 2009). According to economists, academics and human resource managers, the causes can be traced to changing technology, offshoring, global competition and retirements. It is thus not a matter of the unavailability of jobs, but the unavailability of the right types of employees to fill the jobs that are open and waiting. Apparently, “it’s not a worker shortage, it’s a talent shortage,” according to a report by The Manufacturing Institute, Deloitte and Oracle (Cadrain, 2009).
In all companies, there is need for particular skills and talents that training can address, even and especially during an economic slowdown. It takes a matter of strong leadership, vision and foresight to perceive the necessity of training, the kind of training needed, and how such training can benefit the company long after the recession has ended (Van Buskirk, 2009).
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