Thursday, September 19, 2013

Can training be the saviour in a difficult economic climate?






Recently, there was a great article in the Economic Times about how Indian companies are investing heavily on training their leaders and even hiking their training budgets by as much as eighty seven percent! All this at a time when investor sentiment is poor, the rupee is rapidly depreciating and the economy is in doldrums. On the face of it one would expect most organizations to steer clear of investing in training and development of personnel, especially leaders, during a slowdown. But as the article rightly points out - This is a fallacy. The focus on developing business leadership is becoming much more critical given the market challenges... Companies are sensing the need to equip their leadership pool with the capabilities to manage change and ambiguity. Adil Malia, group president, HR at Essar also makes a very good point when he says, "Training is a sound investment in a slowdown as the market moves fast when times are good and people cannot be released for development initiatives." So, even in tough times like these, companies are leveraging the opportunity to equip their leaders with the skills to adapt to changing economic environments. With an eye on the future, they hope to be well prepared to make hay when the sunshine returns. 

Though this might appear to be a sound strategy, it raises a bigger and more crucial questions- What are the right skills to develop at this juncture? What is the right method to deliver these trainings? How do I ensure value (and benefit) not just to my top leadership but to my organization as a whole? After all, learning and development has no meaning if it does not focus on helping the organization become better and profitable by acquiring 'all-weather' skills, knowing competition, understanding short and long term objectives, and empowering leadership to create strategies for the new environment. 


Keeping this in mind, it would be safe to say the strongest skills to develop would be critical thinking, leadership and collaborative skills and here's why. First, critical thinking is a must because it is important to train employees to make better decisions, to think on their own and adapt to various situations as opposed to accomplishing tasks in a mechanical manner or as instructed by superiors. Next, leadership is a necessary skill because a ship wading through choppy waters is as good as doomed without an able captain. Leadership is not just about instruction and guidance but also about ensuring your personnel function in the most beneficial way to the organization both, individually and collectively.  Finally, collaborative skills are essential because organizations are not just about individuals but about groups and teams. If employees can develop analytical skills and understand their own strengths and responsibilities, and that of their colleagues, it'll help create an environment that fosters cohesive growth and achievement. But probably the strongest case for these three skills is in their combined results. By providing critical thinking, leadership and collaborative skills to employees, organizations will help create an eco system where leaders can easily supervise small, highly productive teams that adapt easily to changing situations and environments. In other words, organizations can increase capacity with fewer, better personnel that function well, both individually and collectively, with minimal instruction and guidance. 


Needless to say, it is a blessing in austere and challenging times like these. But will also be the best possible preparation for taking advantage of opportunities when the dark clouds clear.


The Center for Agile Thinking runs unique Leader Led programs to help leaders and their teams develop thinking, decision-making and collaborative skills, The program, Agile Critical Thinking, is a novel hybrid training model comprising online and offline modules focused on practical application of skills and concepts in the workplace. For more information click here


Sources:
Article,  Economic Times - "Companies investing heavily on the training of top leadership, hike budget by 87%". To read the article,  click here

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