When economic conditions tighten, learning and professional development is often the first thing organisations put on the back burner. It’s based on the understandable assumption that investing in your team’s development can seem like discretionary expense when the pressure is on to reduce costs and focus on short-term results.
But as businesses navigate increasing market uncertainty and rapid technological change, many business leaders in Australia say that investing in people is exactly what organisations can’t afford to stop doing right now.
It’s an issue that sits at the centre of the 2026 Women in Leadership Summit series, presented by UN Women Australia and the Women Leaders Institute, which is putting learning and development opportunities at the centre of its program. It has partnered with OpenLearning to give attendees the chance to earn micro credentials and digital badges through participating in a pre-event webinar, mini workshops at the event and two post-event webinars.
Research has consistently shown investing in people during times of economic volatility may actually be the best approach to reducing a business’ risk. Indeed, 85 per cent of top-performing organisations use thought leadership to develop their executives, while employees who spend just one per cent of their work week training can generate 218 per cent more revenue. But around 70 per cent of executives admit they are not adequately equipped to develop the next generation of leaders.
For organisations looking to face these challenges head on, the Women in Leadership Summit series provides a key opportunity for businesses to invest in real, measurable professional development outcomes for their teams.
The summit also bridges the gap between learning and development and social impact by actively contributing to programs that expand women’s economic opportunity, safety and leadership in Australia and worldwide.
Building business resilience
Chief Executive of the Victorian Chamber of Commerce and Industry, Sally Curtain, who is among a number of top business leaders set to speak at the summit, is clear that no matter how challenging the economic environment becomes, she’s found people are the greatest competitive advantage you have.
“Businesses that choose to invest in skills, leadership, and capability are far more prepared to adapt, innovate, and seize new opportunities, while those that decide to cut back often risk falling behind,” Curtain tells Women’s Agenda.
Curtain says that investing in your team’s training and professional development shouldn’t be viewed as a discretionary expense and it’s one of the best strategies for building business resilience.
“In today’s fast-paced world, standing still is essentially moving backwards. Customer expectations, technology, and the skills required to thrive are changing rapidly, and businesses that neglect their workforce risk losing productivity, talent, and ultimately their competitive edge,” Curtain said.
“The real danger isn’t change itself, but rather the assumption that today’s capabilities will be enough to meet tomorrow’s demands.”
Former CEO of Adelaide and Bendigo Bank Marnie Baker AM shares a similar view. When markets become challenging, she says, the instinct is often to reduce investment and focus only on short term results. But in her experience, that is exactly when investing in people matters most.
“Organisations that continue building capability create a workforce that is more adaptable, resilient and better equipped to respond to changing customer needs, new technologies and emerging opportunities,” Baker says.
“People are not an overhead cost to be managed through uncertainty, they are the capability that helps an organisation grow through it.”
It’s strategy, not generosity
Founder of Behind Closed Doors and experienced business executive Donny Walford believes organisations need a mindset shift when markets get tough.
“Investing in your people during difficult markets isn’t generosity, it’s strategy,” Walford says. “The organisations that emerge stronger from economic downturns are invariably those that focused on capability when others pulled back, because when conditions improve, their people are ready and their culture is intact.”
Walford says she’s spent nearly two decades watching women step into bigger leadership roles and it’s because a peer, a mentor, coach or employer chose to invest in them, even when budgets were challenging.
Vice President and Managing Director at Kimberly-Clark ANZ, Belinda Driscoll, agrees that people remain at the center of business success.
“Our products directly impact people’s wellbeing, so we’re obsessed with making them the best they can be. And our people are the superpower behind that,” Driscoll said.
“They’re curious, resourceful and committed, and somehow make 1+1=3, regardless of the challenge. Invest in them, and everything else follows.”
High performing teams don’t happen by accident
Chief Marketing Officer at The ICONIC, Joanna Robinson, says investing in workforce capability is a strategic choice businesses should make.
“Investing in workforce capability is one of the most strategic choices a business can make because it builds the resilience, adaptability and confidence teams need to keep delivering through uncertainty,” Robinson told Women’s Agenda.
Robinson says that high-performing teams don’t happen by accident. “They’re built through practical learning opportunities, clear ownership and cultures where people feel safe to try, learn and contribute,” she said.
“In challenging times, that combination of capability, inclusion and psychological safety is what helps teams stay engaged, solve problems faster and navigate what’s next.”
Meanwhile, Kate Russell, a proud Awabakal woman and Chief Executive Officer of Supply Nation, says talent development needs to move from being a ‘nice-to-have-‘ to a visible driver of productivity.
“To make it a visible driver of productivity, business managers must stop treating talent development as a “benefit” you offer employees and start treating it as a core operational requirement,” Russell said.
“We have commenced implementing micro-learning, short sharp workshops that are relevant to the skills our people need at this moment. If they can’t see the benefit or relevance, there will be uptake lag.
“As a small organisation, we don’t have the resources to have dedicated Project Managers for instance, instead, we require more employees to have a functional understanding and be able to apply project management skills to their work.”
As organisations prepare for more months of economic uncertainty, the leaders speaking at the Women in Leadership Summit are united in a view that investing in learning and development is not something that should be reserved for when markets are strong.
It’s one of the most effective ways organisations can build resilience, drive innovation and build a competitive advantage.
Through its partnership with UN Women Australia, the summit also provides organisations with an opportunity to connect leadership development with meaningful social impact. That’s a win-win.
Find out more about the 2026 Women in Leadership Summit series here.