ERIC Number: ED411418
Record Type: RIE
Publication Date: 1997-Jun
Reference Count: N/A
Company Training and Education: Who Does It, Who Gets It and Does It Pay Off?
Workforce Economics, v3 n2 p3-7 Jun 1997
According to the American Society for Training and Development, U.S. companies spend $55-$60 billion annually for company-provided education and training. Of U.S. companies, 70%-80% offer their employees some type of formal training, and 60% offer tuition reimbursement. Even adjusting for inflation, training expenditures by U.S. companies have increased by 18% during the past 12 years. More than 46 million U.S. workers reported receiving skill improvement training from their company in 1991 (36% more than in 1983). Larger companies are 1.4 times more likely to provide training than smaller companies. Workers with more education are more likely to receive training than are workers with less education. Of employees who have received company training, 75% have been taught at least once by company personnel. Use of external training providers (equipment vendors, private consultants, industry associations, and technical/community colleges) is increasing. In a 1995 survey, fewer than 1% of employees receiving training reported no benefits from their training, and nearly 40% considered job training necessary for their future advancement. More than 80% of courses and organizations still evaluate training based on feedback from trainees. Fewer than 50% of organizations evaluate training in terms of business results. (MN)
Publication Type: Journal Articles
Education Level: N/A
Authoring Institution: National Alliance of Business, Inc., Washington, DC.