There is a temptation in any economic downturn to reduce investment in training and to view it as ‘nice to have’ rather than ‘essential to have’. But, if we pause to think, we know that having the right people with the right skills and attitudes is always critical to the continued success of any business.

Research on high-performing small businesses shows that organisations investing in effectively training their staff quite simply perform better and are more resilient to an economic downturn. But training spend is not a good predictor of training impact. What seems to matter is the extent to which training and development activity is clearly linked to the essential knowledge, skills or behaviours needed to help the business achieve its overall goals.

In short, you need to adopt a planned approach and to link your training and development to your overall business goals.