'Do not abandon staff training', senior figures urge
Training employees is still important and companies should not cut budgets to save money during the credit crunch, it has been claimed.
According to Personnel Today, some senior figures, including CBI director general Richard Lambert, have released an open letter telling managers that skilled workers will be essential to recover from the effects of the credit crunch.
"Investing now in building new skills will put us in the strongest position as the economy recovers," the letter reads.
It also said that during previous downturns businesses which invested in their staff experienced "the most dynamic recovery".
This could benefit people who may find themselves being made redundant, as they will have extra skills to list on their CV which may help them during the recruitment process.
Last month, a report by the Learning and Skills Council found that workers who did receive training from their job felt happier and more confident.