Training employees is an expensive proposition. A 2016 Training Benchmarking Study found that for large companies (10,000+ employees), annual training budgets are about $13 million.
Mid-sized employers (1,000+) budget about $3 million and small companies spend about $290,000. And that doesn’t factor in the hidden costs of training: time taken away from job duties, equipment and more.
For many companies looking to develop staff and upskill in response to talent gaps, the investment in learning can be significant.
For many companies looking to develop staff and upskill in response to talent gaps, the investment in learning can be significant.
When a company invests in employee training, what happens if they quit before the employer sees any benefit from the training? Are companies allowed to recover the investment they made? READ MORE...
