the smart cut: CLO magazine article 'the outlook is not getting any better'

Chief Learning Officer published an article on the economic downturn with the title 'The Outlook's Not Getting Any Better'. Yes, companies continue to announce massive layoffs. Here are some sentences of the article I found worth quoting:

- 70 percent of HR professionals feel budget cuts across entire organizations are likely

- Typically, training is one of the first items to be cut, but Cohen believes organizations should avoid that route....In the case of budget cuts, learning and development organizations need to be prepared. To avoid haphazard cutting, organizations should look to see they can tighten their belts.“You really need to think about what the costs are associated with training,” Cohen said. “You try to find ways to continue learning but minimize other structural costs that go along with it. If it’s possible, shorten the length of training. Where you might have purchased a three-day course [before], think about purchasing a one-day course. ... But my hope for organizations is that they find a way to continue the learning, but reduce the cost associated with that learning.”

- Learning becomes even more critical when an organization is cutting back on raises or bonuses, as these are ways to retain employees. ... An employee will remember [that the] organization tried to give [them] as much as they could, instead of cutting as much as they could.

Key point to remember for smart cutting: 1. It will happen, so please prepare. 2. Don't stop the learning as a whole, but cut its cost via all possible ways 3. You can use learning to retain the people you want to keep, especially at year end when folks think over their next moves...