Constant strain on the purse strings Friday 1 August 2008 PDF Print Cost efficiencies have always been important in business, yet obtaining these efficiencies has never been so critical. This week British Gas announced a 35% price increase, which seems to be part of a growing trend of spiralling costs that both consumers and businesses alike are facing. The news of cost increases for fuel is not the only bad news for UK organisations, as a survey conducted by the Hay Group discovered that one in five workers are frustrated with their current position. It is this problem that could have a greater damaging effect on UK organisations instead of the recent price rises. The employment market is incredibly competitive with organisations having to fight for the top talent and so ensuring current workforce skills are fully utilised not just makes sense but is a necessity. It is common knowledge that organisations who utilise effective learning and development reap great rewards, which include higher loyalty and motivation levels and greater productivity and efficiency levels; all of which are important aspects in economic downturns. However business spending over the past 12 months has been cautious, which when considering media coverage and Government economic predictions is hardly surprising, and so at an initial glance many people believe the training industry should have their hazard lights on. As always, some organisations have abandoned their learning and development plans and have done the traditional method of pulling down the shutters trying to weather out the storm. Although this tactic would allow budgets to be saved the actual cost of halting development initiatives is likely to be a lot greater than the initial budgetary saving. The message of ‘prevention is better than a cure’ is one that many learning and development specialists have spent years communicating and Righttrack Consultancy, a learning and development specialist with over 20 years’ experience in designing and implementing development solutions, is pleased that many organisations are listening. After a record-breaking number of new clients signing up for a wide range of development solutions over the past two months, Righttrack are experiencing the level of importance organisations are placing on learning and development first hand. Righttrack’s Managing Director, Kasmin Cooney, said, “The past two months have been great for Righttrack, which I feel is a very encouraging message for the whole training industry. In the past learning and development organisations’ have had to fight tooth and nail for business in economic downturns and although it is still tough the main battle now is to ensure a client’s training budget is maximised to get the greatest return on investment and not actually persuading the benefits of learning and development. This is good news as it shows UK organisations understanding and appreciation of the benefits of good people management and pushes learning and development organisations to be creative, productive and efficient when designing and implementing learning initiatives.” Maximising strengths when facing difficult situations has always been the best approach when tackling any problem, whether it is business or personal and so it is good news that organisations are still pushing forward with their development. As with all economic situations, the true extent to this current downturn is unknown and so it is a lot like deciding on the weather; a case of waiting and seeing yet being fully prepared and optimistic. It is this approach that will help sort out the winners from the losers of UK organisations in the coming years. -End- Notes: Company logos are available to download from: www.righttrackconsultancy.co.uk/news-media-blog/media/index.... About Righttrack Consultancy: Right Track Consultancy Ltd was formed in 1988, and has its head office in Worcestershire. Righttrack is a leading learning and development consultancy that design and deliver innovative and engaging training solutions to organisations all over the world. The range of services that Righttrack provide covers a broad spectrum and includes bespoke and ready-to-run training, sales solutions, ILM qualifications and development programmes, organisational development, e-learning and coaching. Righttrack work with clients of all sizes across all industry sectors, including Mercedes Benz, Gucci, Somerfield, Littlewoods Shop Direct Group, Metropolitan Police and The North East Ambulance Service. More information can be found on www.righttrackconsultancy.co.uk Press enquiries: Gemma Middleton, Marketing Coordinator Righttrack Consultancy Brockhill Court, Brockhill Lane Redditch, B97 6RB Tel: 01527 595955 Email: firstname.lastname@example.org This press release was distributed by ResponseSource Press Release Wire on behalf of Right Track Consultancy in the following categories: Business & Finance, for more information visit https://pressreleasewire.responsesource.com/about.