Partner Article

Training budgets prove 'recession proof'

Three quarters of companies are not cutting their training budgets, despite the current economic crisis, a survey has revealed. Training provider Beyond the Box published the findings after a nationwide poll of professional services, retail and manufacturing sector firms of varying sizes.

However the study does show that training budgets will operate at a modest level - with just under 50% of firms forecasting an annual training spend of under £500 per employee, and 32% forecasting an annual spend of £500-2000 per employee. Interestingly however, 15% of companies did predict an outlay of over £10,000 per employee in the current financial year.

Christine Knott, MD of Beyond The Box elaborates on the findings; “With 75% of respondents maintaining a training budget, it is encouraging to see that training is by and large proving ‘recession proof’, as companies recognise the need in the current climate to build on their competitive advantage by investing in people, and as well as keeping motivation and morale high.”

“However the budgets are set at a low level, and it is obvious that caution is a prevailing factor at the moment.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .