I’ve been sifting through the Nurturing Talent Research Report and there are a lot of interesting figures that confirm the time and money savings when companies recruit internally and upskill where necessary.

This chart from the report shows almost half of those companies surveyed agreed that they had saved money through growing their own talent.

The report goes on to break down the 44% perecent that agreed and it’s the large organisations that are most likely to respond this way and feel the savings benefits.

This means that it’s the big guys who have a formal training structure in place, and this is probably partly due to it having been expensive to train staff in the past. But this is no longer a hurdle with online training companies offering a diverse range of affordable platforms and systems to suit everyone from SMEs to big corporates.

With the economy on a slippery, steep downward slide it’s important to batten down the hatches and save money wherever possible right now. With companies downsizing and skills being lost, your staff need to be more multi-talented than ever.

The solution is to invest in an online training system that works to upskill your current employees and fill any knowledge gaps that exist now or will do, in the future.