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Monday, April 29, 2024

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COVID-19 Broke Corporate Training?

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According to one of the leaders in personal development and capacity building in digital transformation in Mauritius, the pandemic has destroyed at least 20-30% jobs in the training industry and has led to the temporary closure of at least 50% of corporate training bodies.

This situation is a direct consequence of the pandemic and the strict preventive and sanitary measures that have been adopted since the first lockdown in March 2020.

Over 100 training corporate training institutions are registered with the Mauritius Qualification Authority and are licensed to operate across the island.

Since May 2021, the Human Resource Development Council has limited attendance in classrooms and workshops to 20-25 persons.

One of the major problems that local training institutions have to face is the fact that their market composed mainly of large private sector companies decided to eliminate their human resource development budgets as part of their strategy to increase their resilience to the crisis.

However, our source warns that cutting-off training budgets may harm the whole economy in the middle-term; “During the 2008 financial meltdown, South-East Asia bounced back faster than the rest of the world. One of the reasons why is that the Asian tigers invested massively in technology adoption, training and upskilling of human resources. This is not the time to be penny-wise and pound foolish. This is the time to be bold and master the future. Training is key.”

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