Maintaining Training During Economic Constraints

1
Maintaining Training During Economic Constraints

• Presented by Mike Peters

2
Fact or Fiction ?

• Training is not important to the organizations
  strategy in hard times

3
FICTION! Facts are

• Training can ease the pain when the going gets
  tough
• Younger employees want to rise in the
  organization at a faster pace
• Organizations that have effectively aligned all
  of their talent development functions can more
  readily assess performance gaps

CII RS 200-1
4
Fact or Fiction ?

• Developing talent is beneficial to the bottom line

5
FACT! Benefits of Talent Development
Peer Group
Top Performers
EBITDA
Net Profit Margin
Return on Equity
Source The Hackett Group 2008
6
Fact or Fiction ?

• My key talent wont desert me because they have
  nowhere to go

7
FICTION! Facts are

• 60 will change companies at least three times to
  advance their careers
• Your most skilled employees might be the first to
  leave
• High performers thrive on development
  opportunities
• Never take your talent for granted

CII RS 200-1
8
Fact or Fiction ?

• Those entering the workforce are not adequately
  prepared

9
FACT!
Organizations struggle to prepare workforce to
meet growth demands
Source Softscape Results
from past three State of the Global Talent
Nation surveys of HR professionals
10
Fact or Fiction ?

• Career and development plans should take a back
  seat

11
FICTION! Facts are

• These are the plans that jumpstart progress
• Training provides employees with renewed career
  focus
• Training helps morale of an organization
• Training shows employees you are willing to
  invest in them regardless of the economics

12
What Business Environment Changes Impact OUR
Workforce?
CII 2007 Survey Results
Other 12
Staff Demographics 8
Skill Shortage 41
Changing Processes 5
Hiring Needs 13
Business Growth 21
13
Global trends fuel the need for Training

• Tightening Labor Market
• 9 fewer workers starting careers than those
  leaving the workforce through 2011
• Globalization
• Blending of diverse skill sets
• Changing Demographics
• Addressing needs of different age groups

14
Are you hitting the Generational Training target?
15
Generational Training Puzzle
16
Workplace Strategies
Descriptions provided below are common to
American culture and could vary among different
cultures outside the United States. It is
important to remember that not all traits apply
to all generations. These are general themes and
not rigid stereotypes.
17
Workplace Strategies (cont.)
18
Workplace Strategies (cont.)
19
Workplace Strategies (cont.)
20
Think about your development..

• Sources for training
• Chance to stretch with in your organization
• Short term assignments
• http//www.pmi.org/CareerDevelopment
• provides links to training websites offerings

21
Questions ??