Professional Development scaled back, last 12 months

In tough times, employee training is often among the first areas to face the budgetary chopping block. Indeed, roughly one in four (26 percent) senior executives interviewed said their companies' professional development programs have been reduced from a year ago. But while some companies are making cuts, others are making enhancements: 28 percent of respondents indicated that their firms have actually bolstered their training initiatives during this time.

The survey was developed by Accountemps, the staffing services firm specializing in accounting and finance. It was conducted by an independent research firm and is based on telephone interviews with 150 senior executives from the nation's 1,000 largest companies.

Executives were asked, "Compared to 12 months ago, how, if at all, have your company's professional development programs changed?" Their responses:

Expanded significantly ........................... 9%
Expanded somewhat ................................ 19%
No change ........................................ 45%
Been reduced somewhat ............................ 17%
Been reduced significantly ....................... 9%
Don't know ....................................... 1%
----
100%

"While employers may be tempted to eliminate or scale back training in challenging times, they should think twice before making these cuts," said Max Messmer, chairman of Accountemps. "Skimping on employee education can dull your firm's competitive edge and undermine your recruitment and retention efforts."

Messmer added, "Providing targeted training enables staff, particularly those who have taken on new or expanded roles, to become more versatile and increase their contributions to the firm. In addition, employees who feel their company is invested in their careers will be more motivated to perform at a high level and less likely to resign when an improving economy spurs new job opportunities."

Accountemps has more than 360 offices worldwide and offers online job search services at www.accountemps.com.