Cost-effective training and development programs in the hotel industry during a recessionary period

Abstract

Cost-Effective Training and Development Programs in the Hotel Industry during a Recessionary Period by Fiona Clementine King Gary Potts, Committee Chair Adjunct Professor University of Nevada, Las Vegas Training and development are essential in providing employees with the right skills for their present and future jobs. The world today is constantly evolving, with customers demanding more, which in turn adds pressure to companies and their employees. Therefore, in times of recessions, decreasing the budgets of training programs is a way for companies in all industries to manage and minimize their financial losses. The purpose of this paper is to identify the different techniques that the hotel industry could use to maintain the training and development of their employees during an economic recession. This paper will also look at the literature supporting the cost-effective practices of training and development and the methods used to evaluate training programs. In concluding the paper, a set of general recommendations is suggested for the hotel industry and the human resources department when developing costeffective training programs.