7 Considerations When Developing Your Training Budget

7 Considerations When Developing Your Training Budget

Developing a budget for training or professional development for your employees can be a daunting task for many HR professionals. The average direct learning expenditure per employee is $1,273 according to the Association for Talent Development’s (ATD) 2017 State of the Industry report. This report also found that the average amount of formal learning hours per employee is 34.1, not including informal learning such as on-the-job learning. Both of these figures are increases from previous years which reveals organizations are putting more effort and money into developing their workforce. Being clear about specific training needs and associated costs is critical for budget planning purposes. However, there are so many unknowns that occur during the year that trigger the need for a specific training that could throw off an entire budget.

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3 Keys to Closing Your Organization’s Skills Gap

3 Keys to Closing Your  Organization’s Skills Gap

According Adecco’s State of the Economy and Employment research, the skills gap is a very real thing. Of the senior executives surveyed, 92% feel that there is a skills gap in the U.S. workforce. The study also reports that “senior executives believe the skills gap has less to do with complacency on the part of American workers and more to do with the U.S. education system and costs associated with in-house training programs.

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