Staff development ‘crucial for recession-hit employers’

Businesses forced to down-size as a result of the current economic crisis have been advised to invest in the talent of their workforce in order to survive the recession.

According to the Performance Management Review published by ETS plc, up-skilling is the way forward for struggling companies.

The report revealed that 30 per cent of employees are unhappy with their training and development, which could see them leave for a better offer.

ETS also found from their survey of 175,000 employees that four out of ten workers are dissatisfied with how their efforts are measured.

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Charlie Keeling, HR director of Field Fisher Waterhouse LLP, commented: "Recession or not, there’s always a market for talented individuals.

"Companies that close development and career programmes will pay the price in their brightest and best people leaving for other opportunities."

Marc Barber, editor of smallbusiness.co.uk, has advised firms to maintain business confidence by "watching costs" and "holding tight" this year.