Interesting Analytics on HR Changes

In the most recent Workforce issue it had some interesting statistics that relate to the economy and how businesses have reacted. The one statistic that troubles me is the number of companies that have pared their training budgets. I hope this statistic does not mean they are placing less emphasis on leadership development. So here are the statistics:

Hiring freeze - 72%

Layoffs/reductions in force - 72%

Organizational restructure - 49%

Mandatory shutdown or furlough - 41%

Reduced workweek - 22%

Salary freeze - 60%

Salary reductions - 21%

Reduced employer 401(k) match - 22%

Eliminate/reduced training - 42%

I am sure each HR leader has been deeply involved in these decisions but I can only hope that the training and development budgets were the last resort change. If you want to keep your people don't forgo training.