Workplace Options News: Employee Training Falls Prey to Shrinking Corporate Budgets

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Employee Training Falls Prey to Shrinking Corporate Budgets

Employer-Sponsored Training Programs Aren’t Making the Cut, According to a Recent Survey

Contact:
Christine Hall
chall@capstrat.com
919-882-1998

19 August 2009 – Raleigh, NC – With budgets getting smaller, employers are looking anywhere they can to save money for the initiatives they deem critical. And programs that focus on employee development are sometimes ending up on the “nonessential” list. A recent poll conducted by Workplace Options, a leading provider of employee work-life services, found that fewer employers are offering job skills and personal growth training to their employees this year.

According to the survey, only 39 percent of employers are offering employee training to strengthen skills in time management, communication and leadership, and 32 percent are offering growth training for help with personal issues such as money management, stress management and wellness. This represents an 18 percent drop for work-related skills training and a 15 percent drop for personal growth training as compared to a survey conducted by Workplace Options in November 2008.

While tightening corporate budgets may be to blame, so may be employer mindsets. Some employers feel that by equipping staff with the advanced technical and professional skills they need to be successful and competitive, those employees will then use that as a springboard to landing a better job. This, in turn, translates as an investment and talent loss in the minds of management. Contrary to this “learn and leave” belief, employee training plays a critical role in retaining employees. Training instills a sense that employers value their workers’ contributions to the company and shows they are invested in employee success.

Training also impacts the bottom line. A recent study conducted by Cognisco found that some of the world’s top economies have been decreasing their spending and attention on knowledge development and support programs. It went on to note that businesses lost approximately $31.6 billion in 2008 as a result of employees not being able to perform their jobs correctly.

While companies are under pressure to keep costs down, employees continue to feel the strain to prove their worth at work. Workers are feeling more stress than ever (56 percent of workers polled in the 2009 survey reported an increase in their stress level over the past six months) and are therefore eager to gain better work-life balance, expand their capabilities in the workplace and learn new methods for staying productive.

“It’s important to keep employees engaged and offer opportunities to deepen professional skill sets. But professional skills are only a portion of what employees need to succeed in the workplace,” said Dean Debnam, CEO for Workplace Options. “Work-life skills training is equally important. Improving skills for money and stress management as well as maintaining a healthy lifestyle can help boost employee self esteem and confidence, reduce distractions while at work and drive productivity.”

The Workplace Options survey found that 85 percent of employees would attend trainings aimed at increasing their job skills if offered by their employer. In addition, seven in 10 employees would participate in personal growth training, such as money management, stress management and personal wellnes.

Other survey findings include:

More than half of the employees surveyed would opt for better salary and benefits if they could change one aspect of their job. Twenty-seven percent would prefer better work-life balance.
Ninety-four percent of survey respondents categorize work-life balance as being important.
The economy has the biggest impact on the stress level of participants (48%), followed by family issues (19%), health issues (18%) and work (15%).
The biggest distraction for respondents when at work is finances (36%). Job security (19%), health (18%), relationship or family troubles (15%), and caregiving responsibilities (13%) all followed behind.

Employee training programs, provided by Workplace Options, include tools that help employees address ever-changing workplace challenges and promote productive, positive and resilient work environments. Workplace Options’ training modules cover more than 135 topics and can be customized to suit each work environment. Seminars include sessions on child care, lifestyles and parenting, as well as management sessions concentrating on healthy work environments, team building, leadership, multi-generational workforces, work-life trends and working abroad. Qualified trainers are available for seminars during or after work hours and can even facilitate sessions through online webinars.

To learn more about these services or trends in work-life issues, visit www.workplaceoptions.com.

The national survey on employee satisfaction, conducted by the North Carolina firm of Public Policy Polling, July 15-16, 2009, polled 1,024 working Americans. The survey has a margin of error of +/- 3.1 percent. Full survey results can be viewed at www.workplaceoptions.com/polls.asp.

About Workplace Options

Workplace Options helps employees balance their work, family and personal life in order to make their lives healthier, easier and more productive. The company's world-class employee support and work-life services provide information, resources, referrals and consultation on a variety of issues ranging from dependent care, legal and financial issues to stress management and wellness.

Drawing from an international network of credentialed providers and professionals, Workplace Options is the world's largest integrated employee support services and work-life provider. Service centers in Raleigh. N.C., London, Toronto and Dublin support more than 32 million employees in 20,000 organizations, across 170 countries. To learn more, visit www.workplaceoptions.com.