by Linda Anderson
For 33 years, the Training Magazine (http://trainingmag.com) has been publishing an annual training industry report, which typically shows trends in budget outlays, staffing, and programs among U.S.-based corporations and educational institutions with 100 or more employees. The 2014 report reflects some interesting findings among the latest training and development trends compared to previous years.
Last year saw record spending on total training expenditures – a staggering $61.8 billion – surpassing 2011’s $59.7 billion total spending. Surprisingly, 71 percent of the total is attributed to spending by smaller companies, mainly due to the large number of them included in the survey. The overall training expenditure increase is attributed to a continually improving job market, relatively larger number of company mergers, and increased emphasis on closing skill gaps among employees. The average expenditure per employee was $976, an increase from 2013’s $881 total, with each employee receiving approximately 40.7 hours of training for the year. Continue Reading