Studies have shown that employee learning and development usually takes a significant drop in spending during a recession. With the increasing likelihood of recession today, this episode could not have been more timely as Michelle and Maria make a case for L&D.
To kick off, Michelle asserts that however much you love your job, you still have bills to pay; therefore, you need to get adequately compensated for your time and effort. Our hosts get into the crux of the episode, reflecting upon why L&D is usually the first place to get cut during times of recession. Discussing the implications of this, Michelle and Maria segue into looking at outsourcing L&D as a cheaper alternative and highlight its pros and cons. Finally, they talk about people leadership and why leaders must be trained before a promotion.
The Finer Details of This Episode:
Quotes:
"Most of us would not work for other people if we did not require money to live our lives successfully. So is money the only reason people come to work? Absolutely not. Surveys show it over and over again. Is it the motivator to get people to apply? Yes, it is."
"We come to work because we have bills. So pay us."
"In every situation, there are reasons that make something easy to do as well as reasons that make it hard. You have to consider all of those in relation to what's happening in your business to see if the pros outweigh the cons."
"Even if it's just the three years that this pandemic has screwed the world, what's the potential impact of three years with little to no training from orientation to development?"
"If you're behind on staying up to speed and being challenged in technology, even one year, you're like five years behind in technology. You're not going to stay innovative with an innovative company."
"Cutting your L&D organization and making it into zero investment is worse than not doing anything at all, including outsourcing."
"What are the strengths and weaknesses of getting rid of your L&D department and outsourcing it to someone else?… I'm going to go with a big con of outsourcing: it is a super-short-term solution because those people are not engrained in your business the same way an internal L&D department would be."
"When you look at a lot of the initiatives in outsourcing your L&D, you get a lot of different expertise. Sometimes when you're honing in on one person, you either get instructional design, OD, or somebody focused on training. But when you outsource it, you get the best of all worlds from anybody because they have different skill sets that they can apply to you and use in different formats."
"You cannot afford three years of untrained people. There's no way to recover if they learn the wrong way."
"By having a consultant come in and look at the bigger picture for where those gaps are, they can quickly identify the headcount you need to bring in."
"In our world, the ability to manage or use the analytical side of your brain is as important as the ability to inspire and motivate people, which is equally as important as your ability to move people's progress and skill set to the direction that you need it to be to be effective within your group."
"We at REL Talent believe that you must be able to inspire, develop, and lead your team into the future by having a well-thought-out strategy."
"If I could be paid to be a full-time student where I'm constantly learning stuff, I would be all in every day of the week."
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