It’s a sad fact: If you have money to spend at the end of the fiscal fiscal year, it’s likely that you will cause disruption. This is according to a study by the National Bureau of Economic Research. The report “Do Expiring Budgets Cause Wasteful Year-End Purchasing?” examined the United States’ “Use It or Lose It” procurement practices. It found that spending in the last week of the fiscal year was 4.9 times more than the rest of the year. This is a recipe to disaster.
Who wants to slow down?
It’s urgently needed. There is still money available before the fiscal year ends. We need to take a moment to reflect. Technology is integrating itself into almost every aspect of our lives, so it is less common for people to be left behind when an IT project goes wrong. We have a better way: Use the remaining cash to invest in your employees.
Technology is only as powerful and effective as the people who are trained to use it
Skilled workers can improve your company’s overall performance, cut costs, and help you leverage modern technologies to improve customer experience. We have combined tips and tricks to help you manage year-end spending and find the right partner for your IT training company.
The skills shortage is a major problem that affects everyone.
Google has pledged one billion dollars in grants to support the development and training of U.S. workers and students for the jobs that are tomorrow. Third Way, a think tank, reports that there are “tech jobs across all sectors lacking qualified candidates.” Forbes and other media outlets report that companies are having difficulty filling 200,000 cybersecurity-related jobs because they don’t have enough people who are skilled or trained in this field. Our own global IT skills report and salary report revealed that 79% IT decision-makers believe their teams are facing skill shortages.
One of two scenarios applies to you: You either need to spend money now, or the clock is ticking
You don’t have to panic if you need to spend money right now. Here’s how to do it:
Prepaid training packages are a good investment. Find a company that offers them. Prepaid plans offer the most flexibility. If you haven’t had time to identify areas where employees need to be trained or haven’t had the chance to plan your training path, you have one year to choose from courses.
Subscription plans and bundles offer a great way to organize your learning. Students can easily immerse themselves in the content by grouping related topics. They have access to many courses over a short time period, such as a few months or a year.
You have plenty of time, even though the clock is ticking. People who are responsible for training their employees or purchasing training will see tangible returns if they identify the issues that need to be addressed. Here are four quick tips to increase your training ROI. One common error is also highlighted:
Align skills with organizational objectives. Perhaps your latest deployment was riddled by too many “gotchas” due to people not asking the right questions at the beginning. Did they not have a solid grasp of technology? Or did projects keep going stale because of poor project management? You’ll be the hero if you can solve the problems that plague your business. Takeaway: Get training that focuses on solving those problems.
Survey your management team.81% U.S. According to IT decision-makers, 81% of U.S. employees believe their teams are facing skills gaps. Ask them where they need help or what new skills they need.
Plan for the future. Lay the groundwork now to prepare for next year’s requirements.