Monday, 7 January 2008

Training budget shock in 2008

As reported by Personnel Today in the UK:
Almost half of large companies in Western Europe plan to spend more on training and L&D in 2008, according to Human Resources consultancy Mercer. Its 2007 European Total Rewards Survey found 46% of 200 multinationals surveyed planned to up their training spend this year. Just 4% said they would spend less, while half said expenditure would remain steady. Some 66% of those polled said their companies would spend more on career development programmes for management in 2008, while 32% said expenditure on this would remain steady. Just 2% said it would fall.
Are we starting to see a genuine break with the traditional cutting back of training budgets when times get hard? With talent at a premium and a workforce more mobile than ever, it can only be a good sign that learning and development offers are used as positive differentiators when recruiting and retaining staff, and no longer seen as discretionary spend.

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