Impact of Effectiveness of Training For Organization’S Performance: Strategies for Training and Development during Economic Recession

Abstract

Training and development are essential in providing employees with theright skills for their present and future jobs. The world today is constantlyevolving, with customers demanding more, which in turn adds pressure tocompanies and their employees. Therefore, in times of recessions, decreasingthe budgets of training programs is a way for companies in all industries tomanage and minimize their financial losses. The purpose of this paper is toidentify the different techniques that the industry could use to maintain thetraining and development of their employees during an economic recession.