It has been approximately two years since the Fed’s announcement of the U.S. Economic state of recession. The reported national unemployment rate is at approximately 9%, said to be a conservative number. According to various economic reports, the outlook for the faltering economy is bad on several fronts: Taxable sales have declined this year, personal income has contracted, and unemployment numbers are on the rise. Many organizations which had been in business for twenty-some years have declared bankruptcy. The trust among consumers has been depleted and everyone is secretly wondering what or where did they go wrong?There is some planning underway, and although met with great pessimism and scrutiny by the public, the government has made some positive projections. Nationally, a tepid recovery is forecast to begin in 2010. According to the Fed, the U.S. recession could end around mid-year, giving way to a subdued recovery before healthy growth kicks in. But the big question is, when this happens, will Human Resources be ready?Among the various functions of HR, Training and Development has a ripple effect on organizational performance. Training improves individual performance, which ultimately improves corporate performance. The unprecedented pace of change in today’s economy demands that successful organizations be capable of predicting and reacting to a changeable environment. Only by anticipating the changes, can the organization and employees’ knowledge, skills, and abilities be matched and hence be prepared to compete successfully.Within the past few decades, we witnessed a shift in the American economy from manufacturing to services, and a shift from skills to knowledge base. Hopefully, within the next five years, we will witness another shift in the economy post-recession. However, in a market where choices will once again be available to employees across industries and organizations, how will the large, previously dissatisfied, laid-off, displaced and over-qualified pool of workers behave? But more importantly how will organizations behave?Although the terms training and Development are usually used interchangeably, they in actuality, address different needs. Training focuses on learning the necessary skills and acquiring the required knowledge for job performance. On the other hand, Development focuses on the preparation needed for future jobs. So in conducting needs analysis, and job design in line with training and development, what factors need to be considered to create that ideal and highly appealing position? How will organizations’ T&D and in general HR functions, help position them within the marketplace?
