Three-quarters (75%) of senior HR leaders believe economic uncertainty is impacting their company’s learning and development (L&D) strategy for 2023, with many looking to cut training costs, finds a survey carried out by strategic skills partner, Corndel.
The survey of 500 senior HR leaders and 2,000 employees shows that half (49%) of organisations with an L&D strategy in place will be spending less on their programmes this year due to the economic downturn. However, the survey also revealed that 60% of workers were more likely to choose a role with a career progression plan over an identical job with a higher salary, and 83% of employees surveyed said professional development at their workplace made them feel more “valued”.
The Corndel findings revealed shortages of expertise in the following areas: management (36%), flexible working skills (35%) and data and digital skills (34%), finds the survey.