Recession Survival Kit for L&D Leaders

Be Ready, Responsive, & Resilient

Savvy learning leaders expect the best but prepare for the worst. With a looming recession on the horizon — or perhaps already here — you can think about learning as your all-in-one survival tool. While other businesses are trying to stay afloat, yours can not just survive, but thrive. If you want expert insights firsthand, register for our HR Exchange webinar on How to Prioritize Learning During an Economic Downturn, led by Annee Bayeux and Collin Poage.

The economic downturn will likely bring three key challenges and when it does, this kit can help solve for these common recession struggles:

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Challenge 1:
Team Retention

Your team is your lifeline. When times are tough, employee engagement and retention are everything. Make sure you’re doing these 10 things to keep your people in it for the long haul.

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Challenge 2:
Skill Gaps

Finding and filling skill gaps across your organization ensures you’re prepared for anything. But it’s not always easy to see what’s missing and fix it. Explore how learning technologies on the market right now can (or can’t) help.

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Challenge 3:
Limited Resources

Recessions typically mean only necessities make the cut and investments have to be smart. Find out how to align stakeholders and secure funding or check the data to find out how a platform like Degreed can actually save companies millions.

Solution 1:
Focus on the Experience

Would you rather be stuck in the wilderness alone or with a group of people who have diverse skill sets and are rooting for collective success? Keeping your people is a priority for recession survival. It saves your time, money and company culture. Not sure where to start? In moments like those, we like to turn to Survival Tip #72: When you feel underprepared, make a list. Take a peek at this survival checklist to see what you can do to retain your people.

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Solution 2:
Filling in the Skills Gaps

Falling victim to skill gaps can be costly. And trying to avoid gaps you can’t even see? Impossible. That’s when our next favorite tip comes into play — Survival Tip #48: Be aware of your surroundings. Use learning technology to discover what skills you have (and don’t have) across your workforce so you know exactly where to target your time and money. Get to know the learning tech ecosystem so you know exactly what kind of platform will work best for your business.

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Solution 3:
Do More with Less

For this one, we’ll rely on Survival Tip #6: Be resourceful and make the most of what you have. Every dollar counts. Proving value and return on investment (ROI) are more important than ever. Doing more with a shrinking L&D budget is crucial, so let the numbers do the talking and explore the benefits of Degreed as a tool in your tech stack. Read the Forrester Total Economic Impact report to find out how Degreed can save companies millions of dollars in a time when every bit counts.

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Talk to Sales

Now, you’re ready, responsive and resilient to whatever tomorrow brings! And we’re still here to help. If you have any additional questions or just want to talk to a learning expert, you can fill out this form and one of our team members will be in touch soon.