50% of organisations considering practical training for financial planning in cost-of-living crisis
In a close second came stress management training for employees, with nearly nine in 10 (88%) employers saying they are worried about how the cost-of-living crisis is affecting employees.
These areas are ranked as more important than diversity and inclusion, cybersecurity, health and safety, and sustainability training.
Half of those surveyed (50%) revealed that their learning and development budgets would not change despite the current economic climate putting increased pressure on businesses to support employees further with one in five (21%) stating that a reduction in their budget would be one of the biggest challenges affecting learning and development in the workplace.
Regarding specific training to help employees navigate the cost of living, almost two-thirds (65%) said this isn’t something they have yet given. But half (50%) are considering implementing practical training such as financial planning.
The results also revealed an underinvestment in training line managers. Just 27% of L&D professionals said they plan to provide line managers with training linked to the rising cost of living, such as helping managers to spot the signs of those in their teams who may be struggling.
Chris Chappell, Head of Content at DeltaNet International, said: “Given the current economic situation we find ourselves in, it’s unsurprising that mental health support and stress management are topping the agenda for learning and development priorities.
“Businesses must support colleagues as best as possible to maintain a contented and productive workforce, but many still have not acted. Whilst good rates of pay and benefits schemes are key to helping people through the cost-of-living crisis, there is much more we can do to support employees, and training plays a key role in this.”
Employee engagement with L&D also remains a big challenge. 27% of those surveyed revealed this is currently their primary obstacle. Most HR and training professionals are trying to overcome this by asking employees for written feedback on training, with 77% conducting post-training evaluation – only 12% request verbal feedback.