So has training recovered since the Great Recession? Are employers loosening the purse strings to start reinvesting in training? The short answer: Yes and No. Training Magazine recently published their annual 2015 Training Industry Report, and the results reveal a complex picture of investments in training and development.
According to their results, training expenditures were up 14.2 percent in 2015. However, while spending on outside products and services increased 29 percent, training payroll dropped 20 percent, matching 2011 levels. Across all organization types, larger companies spent about 17 times as much as mid-sized companies. And mid-sized companies spent about three times as much as small ones.
However, the average amount spent per employee dropped compared to 2014. Overall, the average company spent just over $700 per learner compared to $976 per learner in 2014. Balancing the equation, organizations, as a whole, did provide more hours of training. The average learner saw an increase of 13 more hours in training (totaling close to 54 hours per learner) than they did in 2014. The most significant priorities for the allocation of resources in 2015 were related to increasing the effectiveness of training, reducing costs, and measuring the impact of training programs.