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Recent Poll Results suggest Reduction in Training Budgets in Asia for 2009

Posted: 03.06.09

The Chapman Consulting Group's online poll for May 2009, in which senior HR practitioners were surveyed on their expectations on their organisation's training budget expenditure for the year ahead, has confirmed that many organisations have cut back on their spend until economic times improve.

Over 88% of respondents indicated that their organisation would be reducing training expenditure across the region for 2009 in comparison to 2008. 38% of respondents indicated a slight reduction while 50% said that the reduction would be dramatic.

"It’s not surprising that we have witnessed organisations scaling back on their training expenditure in times were all non-essential expenditure has come under the microscope", said Oscar Fuchs, Associate Director of The Chapman Consulting Group. "We feel that much of this scaling down has probably happened in the Banking and Financial Services sector, where we have seen a lot of Training and Organisational Development talent emerge onto the market across the region. It has definitely been happening in other sectors too, but not to the extent of Banking and Finance", said Fuchs.

This is an excerpt. For the full press release, please download the PDF version below.