Explain the critical importance of training and development

Reference no: EM133307292

Assignment: During the COVID-19 pandemic, many organizations had to make cutbacks. Similar to what occurred during the Great Recession, organizations often cut training and employee development. The overarching impact of these cuts has yet to be fully explored. For this Discussion Forum, please address the following requirements:

Question 1: Explain the critical importance of training and development, specifically providing 2-3 statistics about the overarching benefits of training and development. Ensure your selected statistics have been published within the last three years.

Question 2: Explain why you believe training and development budgets are often the first to be cut, in some organizations, when budgetary cuts need to be made.

Question 3: Based upon your research, what short-term and long-term impacts do you believe the decision to cut training and development budgets will have on organizational employees?

Reference no: EM133307292

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