As whispers of a recession continue to grow, it seems that in this time of uncertainty future plans are put in a holding pattern and re-examined. “We need to do more with less!” comes the battle cry from the boardroom.
Sadly, many businesses view L&D as a cost centre, not a revenue-generating entity, which puts the function at risk if budget cuts are necessary. When this happens, training programs are scaled down or put on pause completely; while this may save the organization money over the short term, it can also set things back for years when it comes to agility, leadership readiness and organizational culture.
It’s time to rethink how we view development programs, viewing them instead as an investment in organization’s ability to remain competitive.
However, for L&D pros, this is a good time to step back and look at what are the activities and programs that are driving long-term goals, Which programs are cultivating needed shifts in behaviours, and what programs are the “nice to haves,” that feed into short-term goals, which could perhaps be culled and cut.
Peer group coaching may be just what your organization has been looking to take employee development efforts to the next level. If you’re curious about how The Roundtable can help your organization develop an environment where leaders can support each other through coaching and mentoring, let’s start a conversation. Be sure to download our L&D Trends 2023 to see more trends in the year ahead.