Economic Downturn Reduces Training Budget

It is a fact that in an organization when budget cut is eminent as effected by economic downturn, the training budget is always the first cut. During an employee performance review, the top of the list of KPI, almost always, is training. However, only few or none at all approved particularly if external training is required.

This is such an irony. The managers want their employee to be competent and kept updated to the latest skills required to be a competitive organization in the market place. But when the employees request for training, it is disapproved.

Company competitivenes is dependent on the competency and skills of personnel within their organization. Training is the best pathway to achieve these corporate goals. Sad to say that often than not, it has been ignored by management.