ERIC Number: ED434261
Record Type: Non-Journal
Publication Date: 1997
Reference Count: N/A
Returns to Enterprises from Investment in VET. Review of Research.
Billett, Stephen; Cooper, Maureen
Recent (within the past 6 years) research on returns to Australian enterprises from investment in vocational education and training (VET) was reviewed. Special attention was paid to the following topics: relationship between enterprise size, specialization, and location and investment in formal training; approaches to appraising enterprises' returns on investment in training; and directions for further research. Selected findings of the review were as follows: (1) larger enterprises carry a higher level of the burden of investing in VET than smaller enterprises do; (2) factors that have been proposed to explain smaller businesses' comparatively small investments in VET include required level of skills, lack of incentive, other priorities, a preference for recruitment rather than training, and lack of knowledge about training activities and networks; (3) enterprises' specialization and location are important determinants of the amount they invest in training; (4) the government appears more interested in cost-benefit analysis (CBA) than enterprises are; (5) the consensus regarding the many CBA models proposed in the literature is that there are too many compounding and contradictory variables to suggest sensibly that returns can be quantified in terms of bottom-line profit; and (6) CBA models addressing variables of interest to enterprises are needed. (Contains 51 references.) (MN)
Descriptors: Cost Effectiveness, Education Work Relationship, Foreign Countries, Literature Reviews, Measurement Techniques, Outcomes of Education, Postsecondary Education, School Business Relationship, Small Businesses, Synthesis, Trend Analysis, Vocational Education
National Centre for Vocational Education Research, 252 Kensington Road, Leabrook, South Australia 5068, Australia. E-mail: firstname.lastname@example.org; Web site:
Publication Type: Information Analyses
Education Level: N/A
Authoring Institution: National Centre for Vocational Education Research, Leabrook (Australia).
Identifiers - Location: Australia