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In an economic downturn, employee development programs are often the first to see budget cuts. At the same time, investing in employee growth in an economic downturn is crucial for companies to stay afloat and ahead of competitors.

Jeremy Walsh, EVP of Employer Solutions at AllCampus, discusses why L&D is about more than just checking the box and how employers can create lean L&D programs when budgets are tight.

What are some practical strategies that companies can employ to ensure that their learning and development programs remain effective even with limited or diminishing resources?

Despite budgetary constraints, employers can still strategically design effective learning and development programs that maximize resources without sacrificing skill development. Employers should start by prioritizing upskilling critical skills that align with organizational developmental objectives, and pinpoint those that will make the most impact toward those goals. While employers with limited resources may have narrow learning and development options, aligning employee development goals with specific skills can lead to the desired outcome for the organization.