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ERIC Number: ED454417
Record Type: Non-Journal
Publication Date: 2001
Pages: 6
Abstractor: N/A
Reference Count: N/A
ISBN: N/A
ISSN: N/A
Corporate Training Delivery: Dollars and Sense. Unconventional Wisdom.
Workforce Economics, v7 n1 p7-11 Spr 2001
With accelerating technology in the workplace, worker training has become a key component of almost every corporation's long-range strategic plan. Almost all companies provide some form of training in computer operations to new and existing employees, and more than 90 percent of companies also provided a range of management, leadership, and communications training to employees in 1999. In addition, more training is being outsourced to outside vendors, and more companies are partnering with outside vendors, such as community colleges, to develop joint training programs that address specific needs. In addition, workers are increasingly receiving training by alternative means, such as the Internet. While quantity of training increases, costs for training workers are also going up. The American Society for Training and Development (ASTD) placed the annual total at 2 percent of payroll, or $63 billion, in 1999 for companies with more than 50 workers. The actual cost of training may be far higher, however, when costs such as lost productivity while workers are in training are included. However, the cost of not training workers is potentially much higher, because the changing qualifications of the workplace demand that workers maintain competency. Worker training has become as much a part of a company's budget as equipment and building purchases and leases. It represents an investment in the company's future and provides immediate returns via higher profits and improved earnings for both companies and employees, as well as helping to maintain a competitive U.S. economy. (KC)
National Alliance of Business, 1201 New York Avenue, NW, Suite 700, Washington, DC 20005. Tel: 800-787-2848 (Toll Free); e-mail: info@nab.com; Web site: http://www.nab.com.
Publication Type: Journal Articles; Numerical/Quantitative Data; Reports - Descriptive
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: National Alliance of Business, Inc., Washington, DC.