During slow economic times, it is easy to cut training expenses. Don’t do it. Investing in training in these times is essential as it paves the way for higher quality production by employees when the economy shifts back to normal. Typically, employees have more time available to devote to training during economic downturns. Training during these times acts as an investment in your number one resource–people–and positions your business to take full advantage when the economy’s pendulum swings the other direction. In addition, a company’s commitment to training raises morale among employees as it satisfies their desire to learn and gives them a greater sense that they are valued by their employer.
One idea that some companies have used to hold down the cost of training during slow times is to bring the training in-house. This move may be as simple as using the company cafeteria as the venue instead of a hotel meeting room, or it may mean having exempt employees come to the office on a Saturday for training. Similarly, training can be conducted by management staff rather than outside contractors.
Another cost cutting idea is free, lunchtime Webinars for training. Even Webinars that have a charge can be economical so long as the provider permits you to have multiple employees tune in for the price of one paid tuition. In the legal business, we have found it useful to send one member of our group to an off-site seminar and then arrange a luncheon on the same topic led by the person who attended the seminar.
At Gray Plant Mooty, we have run an in-house litigation training program for the last 25 years in both good and bad economic times. Our program allows each of our associates to experience depositions, mediations, motion hearings, and trials on a realistic basis, and receive tips and guidance from our senior attorneys in the process. Finding the time for these exercises can be challenging, but everyone at GPM understands that the training is essential to maintaining the high quality of our litigators. In addition to our in-house training, we send our senior associate litigators to the National Institute for Trial Advocacy (NITA) to hone their skills with the aid of a national level faculty.
This article is provided for general informational purposes only and should not be construed as legal advice or legal opinion on any specific facts or circumstances. You are urged to consult a lawyer concerning any specific legal questions you may have.
Gray Plant Mooty is recognized as one of the leading corporate law firms in Minnesota and one of the top franchise firms in the world. Our roots go back to 1866. Today, we are a 180-plus attorney, full-service firm with offices in Minneapolis and St. Cloud, Minnesota; Washington, D.C.; and Fargo, North Dakota.