Training spend could increase by around 8 per cent this year, according to a
new survey revealed exclusively to 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, but 21 per cent
will see an increase 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 to the survey.
"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.
Greatest increases are forecast among financial services and retail sectors,
according to the survey. They respectively account for a third and a fifth of
all budget increases over 20 per cent.
Of those organisations which are increasing their budgets, 67 per cent plan
to spend more on blended learning solutions (defined as the combination of two
or more learning methods), 53 per cent will spend more on e-learning, and 47
per cent will increase instructor-led training.
They are also looking to beef up their in-house training capabilities with
77 per cent looking to increase the amount of training they develop and provide
This sense of optimism is reflected in a separate survey, from Reed
Training, which found that 92 per cent of organisations were expecting to
maintain or increase training provision this year, an increase of 11 per cent
on the previous year. They were also expecting to spend around £450 on training
per employee, representing another increase of 11 per cent.
By Stephanie Sparrow