An academic has warned that businesses who try to implement ‘do-it-yourself’ training to save money on their training budgets could end up costing themselves more than they save.
Research by the Forum of Private Business has shown that many businesses are not investing in management skills training, instead preferring to ‘teach themselves’ with informal training and advice in an attempt to cut costs.
Julian Rawel, director of executive education at Bradford University School of Management, said “Just as you wouldn’t hire a ‘self taught’ senior accountant without credible qualifications, you shouldn’t promote staff into managerial positions without credible management training.”
“It is certainly tempting in difficult times to try and ‘do it yourself’ but small businesses in particular should be equipping themselves now with the skills to be more productive and profitable when they come out of dark times.”
Stanley Wise, General Manager of Distance Learning College and Training, said “In difficult financial times it’s more important than ever that staff members are equipped with the knowledge and skills to drive their businesses forward.”
“While it is tempting to make savings wherever possible, high quality training is a vital tool for businesses to develop and increase their performance in the long term.”
The research comes as the government announces a new Leadership and Management Development Grant, which will offer up to £1000 to small and medium-sized businesses to enable them to invest in management and leadership training.