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The Elasticity of Training

One of the most mindful discussions of our time is that of the world economy. During recessionary eras, expenditures become hard fought for and the pressure for increased revenue becomes more intense. The training field is no stranger to the negative effects of hard economic timesdownsizing, reduced budgets for training, outsourcing of training...

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Tue Nov 04 2008

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One of the most mindful discussions of our time is that of the world economy. During recessionary eras, expenditures become hard fought for and the pressure for increased revenue becomes more intense. The training field is no stranger to the negative effects of hard economic times - downsizing, reduced budgets for training, outsourcing of training and other human resource functions, and elimination of training initiatives or training freezes. Many in training often chalk this up to being something other than a profit center or claim that training is not providing enough to their organization in terms of ROI. However, training can also be examined from the standpoint of the basic economic concept called elasticity.

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