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During the recent global economic recession one of the first sectors of industry to really suffer was the corporate training services sector. Many businesses found themselves needing to make redundancies, laying off staff and implementing other cost cutting measures, with many organisations cutting the expenditure on both external and in-house training. Many companies cut the numbers of their in house training staff, while external training service providers were disposed of. In addition to this, significant cutbacks in the public sector saw training providers, agencies and businesses all get badly affected by the recession.
However in more recent results it has been seen that many training providers are starting to report a significant upturn in their turnover. In particular the smaller, independent providers are benefitting greatly from this change in fortunes. This pattern is a result of businesses looking to external providers as a result of having diminished the scope of their in-house training departments during the economic downturn. They are particularly looking for training providers in areas such as bespoke management training and sales training, to fill the skills gap they now find exists within their employee resources. Many of the smaller, independent training providers are experiencing a doubling in both prospective and actual clients, with one such training provider reporting the previous year as their best ever. Management training is a particular growth area with businesses looking to ensure managers get the most out of their staff. Language courses also prove to be beneficial to businesses in a wide range of industry sectors.
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