Budgets set to soar as coaching gains popularity

Training
spend could increase by up to 25 per cent this year, according to a new survey
revealed exclusively to Personnel Today’s sister title, Training Magazine.

Most
organisations (51 per cent) will see an increase of up to 5 per cent in 2004,
according to the survey released by Balance Learning, while 21 per cent will
see rises of more than 25 per cent.

Around
one-third will keep budget levels the same as 2003, and some small cuts are
forecast by 16 per cent of respondents.

"The
data suggests that organisations appreciate the value of training and that 2004
will be a very busy year for training departments and training providers,"
said Balance Learning managing director Chris Horseman.

"Taking
into account the planned increases and decreases, we calculate that training
budgets overall will rise by 8.14 per cent," he said.

The
greatest increases are forecast for the financial services and retail sectors.

Of
those who are increasing their budgets, 67 per cent plan to spend more on
blended learning solutions (the combination of two or more learning methods),
53 per cent will spend more on e-learning, and 47 per cent are will increase
instructor-led training.

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