During times of economic downturn, such as during the recession in 2008, organizations seek out less expensive, nontraditional training programs and methods, which include a combination of formal and informal learning with an emphasis on collaboration, knowledge sharing, social networking, coaching, and mentoring.
According to an article in EC&M's February issue, the impact of this recession on the construction industry, including the electrical industry, which probably requires the highest degree of training of all the trades, has been "incredible."
The article features several training providers and how the recession has affected their operations. The articles also contends that during an economic crisis, companies should focus on measurable returns on their investments in training. But consider instruction targeted to the needs of the company, which is less expensive and more effective.
The feature also includes a sidebar on developing competencies. When competencies are properly aligned with the mission, vision, and key business processes of an organization, they become a powerful tool for enhancing its competitiveness.