Economic Recession – Right Time for Training and Certification

In boom time, training and certification may lead to salary increase. Obviously, the direct impact of training is improved or higher skills for the person and hence leading to higher productivity in their job. Higher productivity and job performance often leads to promotion to a more senior or responsible position and that implies more salary.

However, in an economic downturn, salary is often frozen or cut. That does not mean a person should not invest in training and certification. In fact, it may be even more important! Training and professional certifications, like IT certifications, provides better job security. If the worst should happen and a person needs to look for a new job, IT certifications make the person more marketable in the talent marketplace.

Having a recognised certification can be your differentiator to clinch that job. IT training and certification like PMP, ITIL Foundation or ITIL Expert is widely recognised. Some employers actually specify PMP or ITIL certification in their job advertisements. For new or fresh graduates without relevant job experience, this could be your differentiator over your cohort and makes you stand out from the rest.

A good example can be seen in Singapore. The Singapore government truly recognises the importance of training and certification, more so in an economic downturn. Hence the introduction of initiatives such as SPUR and CITREP. CITREP (Critical Infocomm Technology Resource Programme) is a training incentive programme to equip Singapore infocomm professionals with critical and emerging skills, thus enabling them to enhance their employability and to improve their organisations' competitive advantage. ITIL trainings, leading to approved ITIL certification, are included in this programme. Up to 80% of training and certification fees are reimbursed to the students when they complete the trainings and obtained their certifications.

SPUR (Skills Programme for Upgrading and Resilience) is an enhanced funding support scheme that help employers cut cost and save jobs, allows workers to upgrade their skills so that they become more employable and able to convert to new jobs and lastly to prepare workers and companies for the economic recovery that will eventually come. Employers are given funding when they send workers for relevant trainings.

So, don’t let this downturn pull you down. Go sign up for the relevant trainings and get your IT certification. The best form of investment is to invest in your own self.