Fiona Lander, Lander Associates comments on how organisations are all trying to weather the storm of the current downturn in different ways and staff training is often a long way down most companies’ priority lists.

However it shouldn’t be! It’s more important than ever to make this investment in today’s market.

In challenging times, two important things happen. Budgets get slashed and the workforce needs new and very different tools to deal with unprecedented situations and problems. We all know the economic arguments and can empathise with businesses who feel that training is not crucial to bottom line profit.

Tough decisions need to be made around where to cut costs and what expenditure is essential, versus a seemingly optional luxury. One of the areas which often faces cost cuts is training - mainly because managers find it difficult to give real evidence of a return on investment.

However, the current market can be looked upon as a business opportunity rather than a threat. Those organisations who continue to develop their teams will build a real competitive advantage over those who can only thrive during the good times.

Whilst your employees will probably have established excellent skills in their particular areas of expertise, they will now need guidance in how to use those skills differently, in tricky circumstances and untried situations. With a potential reduction in advertising, have your people been trained in how to generate new business, how to network and how to look after their clients through these difficult times?

Desk planning has become an indispensable survival tool – ‘ring fencing’ your existing clients will eliminate or at least reduce the loss of business to aggressive competitors, so it’s vital that your staff know how to put these strategies in place.

If your market place is shrinking, then so is your share of it. New business development has to be a priority, as without some growth the company will not even remain at the same level of profitability. So arming your people with the skills they need to do this is vital. One of the biggest difficulties that people will face in the current climate is prioritising tasks in a different way. What is important in a buoyant market may not be as urgent in a more challenging one. Understanding that a higher level of activity is essential but also knowing when and where to focus on quality as well as quantity, will really make the difference between success and failure.

Investing in training is only worthwhile if the messages are taken on board and utilised. Transparent and supportive leadership will help maximise on any training and coaching by ensuring that it is used effectively and that people buy in and engage with the programmes. Also, make sure that the people in your organisation that have relevant experience and skills are frequently sharing their wisdom with the rest of the team.

Training doesn’t just benefit the bottom line. It can also identify weaknesses in the company’s infrastructure, for example poor communication, which can be addressed before they develop into damaging problems. Similarly, cutting out training where it has always been the norm can have a devastating effect on employee morale.

The last thing you want to do in difficult times is de-motivate staff – but this is a real possibility and can lead to your best talent looking to move somewhere they feel more valued. In the same way, a solid training programme can give you the competitive edge by helping you attract new talent to the organisation.

In these challenging times, the question businesses are pondering should not be ‘how can I afford to spend on training?’, but ‘how can I afford not to invest in training?’ The key to success is preparation and by investing in training to maximise the potential of your organisation, you will be well equipped to sail through the storm relatively unscathed.