Not exactly an AIG-style, spa-and-champagne corporate retreat, but every expense counts in this economy.
So earlier this year, DCI, which makes stainless steel storage vessels for the food and biotech industries, decided to hold its quarterly management training on-site in a small conference room instead.
“It’s a cost-saving measure,” says finance vice president Chad Leither. “We’ll continue until things improve.”
DCI isn’t alone in trying to trim its training budget during these tough times.
Corporate training budgets have been slashed severely as companies try to balance the books amidst the worst recession in decades. Those that aren’t cutting training altogether are increasingly looking to save money by bringing training on-site rather than sending employees away to conferences or seminars. (Continue reading…)