Industry Overview and Trends Excerpt: Despite layoffs and recession-starved budgets, many employers are investing in leadership-development programs, hoping not to be caught short of strong managers when the economy recovers. Identifying and grooming leaders is important in good times, says Bret Furio, senior vice president of consumer lifestyle for Philips Electronics North America. "In times of crisis when the economy is struggling," he adds, "it's imperative." Like many companies, Philips Electronics NV is trimming its training budget this year. A December survey of 117 large U.S. companies by Watson Wyatt Worldwide Inc. found 23% of respondents had recently cut training programs, and another 18% planned to do so this year… But leadership coaches say they're still in demand. Author and consultant Paul Hellman has been expecting a slowdown, but says December was his busiest December ever. Mr. Hellman, president of Express Potential, says employers know employees are less likely to jump ship during the recession, and are exhibiting a "let's make sure people are developed" mentality. He says he sees companies cutting costs by using more Web training than in past years; he hosted four "Webinars" in January, compared with six for all of last year.
Source: http://online.wsj.com/article/SB123395874246058397.html
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Excerpt:
Some of the developments are weird, even freaky, while some could reshape business leadership in the next few years. Guess which is which? The consulting group Accenture, for example, is now flogging specially designed software ostensibly aimed at teaching type-A executives to fix bad habits. The Personal Performance Coach, which runs on any Windows-based smartphone and Bluetooth headset, is the ultimate nag. It provides managers with feedback on everything they do, right down to the way they speak. Do you interrupt too much? The computer coach will pull you up and tell you to shut up. Want to become a better listener? Just program the device to make sure you spend less time talking. The earpiece will identify your voice and the software will track how long you've been talking. If you talk too much, the headset whispers into your ear: "Talk less."
Source: http://www.theage.com.au/news/business/games-people-play-to-succeed-at-work/2007/07/24/1185043114521.html
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Excerpt:
In tough economic times like these, companies are often tempted to cut employee training and professional development programs. But a closer look at its value reveals that training might be more worthwhile than you think. The obvious argument for continuing to invest in training is that well-trained, skilled employees are important to an organization's long-term success. This is because training results in more productive, quality focused, and committed employees who will remain with the company once the economy rebounds and the competition starts recruiting again. Furthermore, evidence suggests that the connection between a company's actual market value and its continued commitment to training during difficult economic times is even stronger in companies focused on product innovation, such as those in the technology, defense or manufacturing industries. Evidence of this phenomenon comes from a recent study licensed by Deloitte & Touche that examined the correlation between training and the market-to-book ratio of a company. The study found that companies focused on product innovation that "agreed" or "strongly agreed" that investment in training programs is one of the first things to be reduced when expenses need to be managed, had a 13 percent lower market-to-book ratio than companies that were "neutral," "disagreed," or "strongly disagreed" with the statement. The study data supports the continuance of training even in a cost-cutting environment.
Source: http://cob.jmu.edu/icpm/management_world/pdjul08.pdf
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Excerpt: There's a very apparent disconnect between employers and employees when it comes to training, concludes the Society of Human Resource Management (SHRM) and WSJ.com/Careers report, Critical Skills Needs and Resources for the Changing Workforce. More than 400 human resources (HR) professionals and 334 employees were polled and the results were revealed during the 60th Annual Conference of SHRM held this past June. The report showed that 83 percent of employers preferred offering instructor-led workshops, 82 percent favored on-the-job training and 80 percent relied on continuing education programs. However, employees weren't as enthused about employers' chosen training approaches with only 69 percent of employees preferring on-the-job training and 52 percent citing coaching or mentoring as their preferred method. Employees named university or college courses as the most effective. It's no wonder then that employees aren't satisfied with training, do not use what they learn or simply choose not to take advantage of the training opportunities. No more than half of the employees in the SHRM survey made use of available training. Ken Moore, member of SHRM's Organizational Development Special Expertise Panel and consultant with Ken Moore & Associates in Ballston Spa, N.Y., shared his thoughts on lack of employee participation at the conference saying: The incentives and payoff may not be there or justified... Skills training without a clear payoff is an exercise in futility. Employees who cannot apply new skills will quickly revert back to old tried and true methods. Managers who have to budget this training without recognizable payoff will balk at expenses. As a result, productivity and performance improvements will not be realized.
Source: http://news.thomasnet.com/IMT/archives/2008/08/training-an-employer-employee_mismatch-on-practices-skills-goals-rewards.html
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