Citation
(2003), "Training drop-outs cost business a fortune", Journal of European Industrial Training, Vol. 27 No. 1. https://doi.org/10.1108/jeit.2003.00327aab.012
Publisher
:Emerald Group Publishing Limited
Copyright © 2003, MCB UP Limited
Training drop-outs cost business a fortune
Training drop-outs cost business a fortune
UK businesses are wasting up to 20 per cent of their training budgets because of employees failing to attend designated business courses.
More than half of organizations which calculate wastage admit to losses totalling between £217 million and £871 million a year. Only a fifth claim they suffer no financial loss from people failing to attend designated courses.
The research, carried out by Cambridge Online Learning, shows that UK management training is still in its infancy, with a quarter of all training budgets being spent on developing technical competencies and less than 10 per cent of organizations dedicating more than half their training budget to management development.
Key motivators for managers who buy in training appear to be improved efficiency (86 per cent), business impact (73 per cent) and personal development (73 per cent). Key reasons for not buying in training include expense (68 per cent), lack of business benefits (37 per cent) and irrelevance to the employee's role (37 per cent).
Three-quarters agree that too little is spent developing employees into better people managers. However, there appears to be a lack of objective setting by training buyers, with a third admitting that they are unsure of what their training programmes are actually designed to deliver.
Training buyers appear to be less conservative than might be expected, with most buyers constantly searching for the right mixture by regularly introducing new training courses and suppliers to their business.