{"id":23965,"date":"2023-01-14T23:14:16","date_gmt":"2023-01-15T05:14:16","guid":{"rendered":"https:\/\/trainingmag.com\/?p=23965"},"modified":"2023-01-14T23:14:39","modified_gmt":"2023-01-15T05:14:39","slug":"smart-companies-will-invest-in-talent-despite-the-downturn","status":"publish","type":"post","link":"https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/","title":{"rendered":"Smart Companies Will Invest in Talent Despite the Downturn"},"content":{"rendered":"<p>It has been quite a year for Learning and Development (L&amp;D) professionals and Talent leaders. While adapting to the evolving landscape of hybrid and remote work, they also faced the challenge of retaining talent through the \u201cGreat Resignation.\u201d And just as they felt like they had a plan for that, the conversation shifted abruptly to a new downturn. Many companies went guardrail to guardrail on talent strategy, careening from signing bonuses and raises to budget cuts and layoffs.<\/p>\n<h2>Trends to Watch<\/h2>\n<p>Despite all of the uncertainty, we still must get ready for a new year, and new challenges. Here\u2019s what we\u2019re watching at Forrester as we look at the landscape of talent strategy:<\/p>\n<ul>\n<li><strong>Old habits will hurt more than they help.<\/strong> Employers who rely on their usual habits for weathering a recession will lose critical talent. Despite the downturn, the talent market is still exceptionally tight. This is because <a href=\"https:\/\/www.forrester.com\/blogs\/manage-great-resignation-with-ex\/?utm_source=trainingmag&amp;utm_medium=pr&amp;utm_campaign=predictions_2023\">decades of demographic shifts<\/a> have brought us to a place where talent is more limited. Skills shortages abound, and companies that cut talent will end up paying a bigger price when they can\u2019t execute on organizational strategies because they don\u2019t have the resources they need.<\/li>\n<li><strong>Rollbacks of anywhere work will backfire.<\/strong> We expect that as many as 4 in 10 hybrid-working companies will try to undo anywhere work, and that half will fail. Our 2021 data shows that 66 percent of U.S. firms have adopted hybrid or anywhere-first strategies, yet 49 percent of leaders still expect to alter their return-to-office approach. Part of this trend is rooted in executives who are eager to get back their in-office culture, but with many employees feeling happier and more productive with their flexible options, this is a dangerous gamble that could exacerbate retention and engagement issues.<\/li>\n<li><strong>Companies will cut spending on training and pay the price.<\/strong> L&amp;D professionals have felt the pinch every time the economy turns sour. Learning budgets are often the first thing on the chopping block, as they are considered \u201cnice to have.\u201d But this is yet another example of an approach that might have worked in the past but will hurt organizations in this situation. Currently, 65 percent of companies spend $2,500 or less per leader per year on leadership development. Yet managers are essential to retaining and engaging your talent, especially in difficult times.<\/li>\n<\/ul>\n<p>While these challenges may seem daunting, there is good news for Learning professionals. Talent development bolstered by a skills-first talent strategy will rise in importance to organizations focused on outcomes. Learn more about our <a href=\"https:\/\/www.forrester.com\/blogs\/predictions-2023-future-of-work\/?utm_source=trainingmag&amp;utm_medium=pr&amp;utm_campaign=predictions_2023\">predictions for 2023<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Talent development bolstered by a skills-first talent strategy will rise in importance to organizations focused on outcomes.<\/p>\n","protected":false},"author":1775,"featured_media":23966,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"cybocfi_hide_featured_image":"","footnotes":""},"categories":[11,12],"tags":[16],"class_list":{"0":"post-23965","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-featured","8":"category-magazine","9":"tag-feature","10":"magazine_issues-january-2023"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.2 (Yoast SEO v25.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Smart Companies Will Invest in Talent Despite the Downturn<\/title>\n<meta name=\"description\" content=\"Talent development bolstered by a skills-first talent strategy will rise in importance to organizations focused on outcomes.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Smart Companies Will Invest in Talent Despite the Downturn\" \/>\n<meta property=\"og:description\" content=\"Talent development bolstered by a skills-first talent strategy will rise in importance to organizations focused on outcomes.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/\" \/>\n<meta property=\"og:site_name\" content=\"Training\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TrainingMagazine\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-15T05:14:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-15T05:14:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/trainingmag.com\/wp\/wp-content\/uploads\/2023\/01\/01feature-tynanIMAGE.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"561\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Katy Tynan, Principal Analyst, Forrester\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TrainingMagUs\" \/>\n<meta name=\"twitter:site\" content=\"@TrainingMagUs\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Katy Tynan, Principal Analyst, Forrester\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/\"},\"author\":{\"name\":\"Katy Tynan, Principal Analyst, Forrester\",\"@id\":\"https:\/\/trainingmag.com\/#\/schema\/person\/b4695d06e9227867f85323824d5ff4d2\"},\"headline\":\"Smart Companies Will Invest in Talent Despite the Downturn\",\"datePublished\":\"2023-01-15T05:14:16+00:00\",\"dateModified\":\"2023-01-15T05:14:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/\"},\"wordCount\":432,\"publisher\":{\"@id\":\"https:\/\/trainingmag.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/trainingmag.com\/wp\/wp-content\/uploads\/2023\/01\/01feature-tynanIMAGE.jpg\",\"keywords\":[\"Feature\"],\"articleSection\":[\"Featured\",\"Magazine Articles\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/\",\"url\":\"https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/\",\"name\":\"Smart Companies Will Invest in Talent Despite the Downturn\",\"isPartOf\":{\"@id\":\"https:\/\/trainingmag.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/trainingmag.com\/wp\/wp-content\/uploads\/2023\/01\/01feature-tynanIMAGE.jpg\",\"datePublished\":\"2023-01-15T05:14:16+00:00\",\"dateModified\":\"2023-01-15T05:14:39+00:00\",\"description\":\"Talent development bolstered by a skills-first talent strategy will rise in importance to organizations focused on outcomes.\",\"breadcrumb\":{\"@id\":\"https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/#primaryimage\",\"url\":\"https:\/\/trainingmag.com\/wp\/wp-content\/uploads\/2023\/01\/01feature-tynanIMAGE.jpg\",\"contentUrl\":\"https:\/\/trainingmag.com\/wp\/wp-content\/uploads\/2023\/01\/01feature-tynanIMAGE.jpg\",\"width\":1000,\"height\":561},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/trainingmag.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Smart Companies Will Invest in Talent Despite the Downturn\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/trainingmag.com\/#website\",\"url\":\"https:\/\/trainingmag.com\/\",\"name\":\"Training\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/trainingmag.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/trainingmag.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/trainingmag.com\/#organization\",\"name\":\"Training Magazine\",\"url\":\"https:\/\/trainingmag.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/trainingmag.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/trainingmag.com\/wp\/wp-content\/uploads\/2020\/12\/training-logo-544.png\",\"contentUrl\":\"https:\/\/trainingmag.com\/wp\/wp-content\/uploads\/2020\/12\/training-logo-544.png\",\"width\":554,\"height\":150,\"caption\":\"Training Magazine\"},\"image\":{\"@id\":\"https:\/\/trainingmag.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/TrainingMagazine\",\"https:\/\/x.com\/TrainingMagUs\",\"https:\/\/www.instagram.com\/training_magazine\/\",\"https:\/\/www.linkedin.com\/company\/lakewood-media-group-llc\",\"https:\/\/www.youtube.com\/channel\/UCBRVPGzg9czIhhjPcViYh-w\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/trainingmag.com\/#\/schema\/person\/b4695d06e9227867f85323824d5ff4d2\",\"name\":\"Katy Tynan, Principal Analyst, Forrester\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/trainingmag.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/67645b99a279e2a78f10f1d8fcd594c4ce925b9fdcb396c3c6138dbdbe40310a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/67645b99a279e2a78f10f1d8fcd594c4ce925b9fdcb396c3c6138dbdbe40310a?s=96&d=mm&r=g\",\"caption\":\"Katy Tynan, Principal Analyst, Forrester\"},\"url\":\"https:\/\/trainingmag.com\/author\/katy-tynan-principal-analyst-forrester\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Smart Companies Will Invest in Talent Despite the Downturn","description":"Talent development bolstered by a skills-first talent strategy will rise in importance to organizations focused on outcomes.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/","og_locale":"en_US","og_type":"article","og_title":"Smart Companies Will Invest in Talent Despite the Downturn","og_description":"Talent development bolstered by a skills-first talent strategy will rise in importance to organizations focused on outcomes.","og_url":"https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/","og_site_name":"Training","article_publisher":"https:\/\/www.facebook.com\/TrainingMagazine","article_published_time":"2023-01-15T05:14:16+00:00","article_modified_time":"2023-01-15T05:14:39+00:00","og_image":[{"width":1000,"height":561,"url":"https:\/\/trainingmag.com\/wp\/wp-content\/uploads\/2023\/01\/01feature-tynanIMAGE.jpg","type":"image\/jpeg"}],"author":"Katy Tynan, Principal Analyst, Forrester","twitter_card":"summary_large_image","twitter_creator":"@TrainingMagUs","twitter_site":"@TrainingMagUs","twitter_misc":{"Written by":"Katy Tynan, Principal Analyst, Forrester","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/#article","isPartOf":{"@id":"https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/"},"author":{"name":"Katy Tynan, Principal Analyst, Forrester","@id":"https:\/\/trainingmag.com\/#\/schema\/person\/b4695d06e9227867f85323824d5ff4d2"},"headline":"Smart Companies Will Invest in Talent Despite the Downturn","datePublished":"2023-01-15T05:14:16+00:00","dateModified":"2023-01-15T05:14:39+00:00","mainEntityOfPage":{"@id":"https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/"},"wordCount":432,"publisher":{"@id":"https:\/\/trainingmag.com\/#organization"},"image":{"@id":"https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/#primaryimage"},"thumbnailUrl":"https:\/\/trainingmag.com\/wp\/wp-content\/uploads\/2023\/01\/01feature-tynanIMAGE.jpg","keywords":["Feature"],"articleSection":["Featured","Magazine Articles"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/","url":"https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/","name":"Smart Companies Will Invest in Talent Despite the Downturn","isPartOf":{"@id":"https:\/\/trainingmag.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/#primaryimage"},"image":{"@id":"https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/#primaryimage"},"thumbnailUrl":"https:\/\/trainingmag.com\/wp\/wp-content\/uploads\/2023\/01\/01feature-tynanIMAGE.jpg","datePublished":"2023-01-15T05:14:16+00:00","dateModified":"2023-01-15T05:14:39+00:00","description":"Talent development bolstered by a skills-first talent strategy will rise in importance to organizations focused on outcomes.","breadcrumb":{"@id":"https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/#primaryimage","url":"https:\/\/trainingmag.com\/wp\/wp-content\/uploads\/2023\/01\/01feature-tynanIMAGE.jpg","contentUrl":"https:\/\/trainingmag.com\/wp\/wp-content\/uploads\/2023\/01\/01feature-tynanIMAGE.jpg","width":1000,"height":561},{"@type":"BreadcrumbList","@id":"https:\/\/trainingmag.com\/smart-companies-will-invest-in-talent-despite-the-downturn\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/trainingmag.com\/"},{"@type":"ListItem","position":2,"name":"Smart Companies Will Invest in Talent Despite the Downturn"}]},{"@type":"WebSite","@id":"https:\/\/trainingmag.com\/#website","url":"https:\/\/trainingmag.com\/","name":"Training","description":"","publisher":{"@id":"https:\/\/trainingmag.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/trainingmag.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/trainingmag.com\/#organization","name":"Training Magazine","url":"https:\/\/trainingmag.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/trainingmag.com\/#\/schema\/logo\/image\/","url":"https:\/\/trainingmag.com\/wp\/wp-content\/uploads\/2020\/12\/training-logo-544.png","contentUrl":"https:\/\/trainingmag.com\/wp\/wp-content\/uploads\/2020\/12\/training-logo-544.png","width":554,"height":150,"caption":"Training Magazine"},"image":{"@id":"https:\/\/trainingmag.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/TrainingMagazine","https:\/\/x.com\/TrainingMagUs","https:\/\/www.instagram.com\/training_magazine\/","https:\/\/www.linkedin.com\/company\/lakewood-media-group-llc","https:\/\/www.youtube.com\/channel\/UCBRVPGzg9czIhhjPcViYh-w"]},{"@type":"Person","@id":"https:\/\/trainingmag.com\/#\/schema\/person\/b4695d06e9227867f85323824d5ff4d2","name":"Katy Tynan, Principal Analyst, Forrester","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/trainingmag.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/67645b99a279e2a78f10f1d8fcd594c4ce925b9fdcb396c3c6138dbdbe40310a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/67645b99a279e2a78f10f1d8fcd594c4ce925b9fdcb396c3c6138dbdbe40310a?s=96&d=mm&r=g","caption":"Katy Tynan, Principal Analyst, Forrester"},"url":"https:\/\/trainingmag.com\/author\/katy-tynan-principal-analyst-forrester\/"}]}},"_links":{"self":[{"href":"https:\/\/trainingmag.com\/wp-json\/wp\/v2\/posts\/23965","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/trainingmag.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/trainingmag.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/trainingmag.com\/wp-json\/wp\/v2\/users\/1775"}],"replies":[{"embeddable":true,"href":"https:\/\/trainingmag.com\/wp-json\/wp\/v2\/comments?post=23965"}],"version-history":[{"count":1,"href":"https:\/\/trainingmag.com\/wp-json\/wp\/v2\/posts\/23965\/revisions"}],"predecessor-version":[{"id":23967,"href":"https:\/\/trainingmag.com\/wp-json\/wp\/v2\/posts\/23965\/revisions\/23967"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/trainingmag.com\/wp-json\/wp\/v2\/media\/23966"}],"wp:attachment":[{"href":"https:\/\/trainingmag.com\/wp-json\/wp\/v2\/media?parent=23965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/trainingmag.com\/wp-json\/wp\/v2\/categories?post=23965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/trainingmag.com\/wp-json\/wp\/v2\/tags?post=23965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}