There are many indications that the Great Recession is receding, one of them is that training budgets are starting to rise again for all business sectors.
$800 per Learner
According to the latest industry report on corporate spending on training by Bersin by Deloitte
, budgets have climbed to 9.5 percent to an average of $800 per Learner. That will add up to $67 billion spent by U.S. corporate training departments in 2013. Besides slightly improved economic tidings, the causes of this uptick seem to include a growing sense among organizations that they need to address skill gaps and bring their employees up to date.
Budgets are Still Tight
The report gives a sense of optimism, but the economy is still building and organizations will closely monitor all their expenses, including the resources allocated for learning and development.
“Across the board, from industry to industry, learning organizations are looking for better ways to scale their training efforts, and provide more efficient and far-reaching results for every dollar spent,” the report concludes. Purse strings are loosening, but companies still want the maximum bang for their training buck. Who doesn't?
The trend towards eLearning and informal learning will continue. By implementing these more efficient and cost-effective ways to deliver training, companies reduced the cost per training hour to $52 in 2012. That’s the lowest in the last six years. It’s also meant a decrease in the ratio of learning professionals to employees. In 2006 there were 6.7 learning and development professionals per 1,000 learners. Now there are 5.2.
“This is partly driven by increased scaling provided by technology-based training, as well as the move to informal and collaborative learning, for which coworkers and SMEs assume some responsibilities once held solely by L&D staff,” the report explains.
Simple. Smart. Affordable.
Efficiency, scalability and cost concerns favor Learning Management Systems and collaboration. Until recently, licensing and implementation of an LMS has required major financial and deployment resources. The Accord LMS is one of the easiest, extensible and cost effective platforms in the LMS industry. Consider the cost comparison chart below for 1000 Learners.
The Accord LMS provides a smart alternative in an environment of growing but cautious optimism. Please contact one of our learning experts at firstname.lastname@example.org
to see how the Accord LMS can bring your organization, partners and customers up to speed, on time and under budget.