Source: Forbes, Jan 2013
90% of CEOs “will either maintain or increase their training budgets” over the next year. The survey gauged the opinions of CEOs at companies with more than 250 employees in 13 business categories.
What are a CEO’s biggest priorities when engaging in worker training? Besides faster results (more on that in a moment), Skillsoft offered the following data:
• 93% of CEOs expect they will either maintain or increase their training budgets next year.
• 61% of business leaders say they have a mobile learning strategy ready to go.
• 24% say they will “embrace” mobile learning in the near future.
• 42% say the length of training or learning course was a “more important deciding factor than its content.”
• Just 13% see cost as their most “important consideration.”
Skillsoft said that CEOs see training as a necessity and not a luxury, but only if company training programs lead to faster, more effective results.
“This research shows that business leaders increasingly appreciate the value of learning,” explained Kevin Young, managing director at Skillsoft. “However, while training budgets themselves are not being cut, the time businesses have available to undertake training sessions is clearly shrinking.”
Young said that CEOs want leaner training programs that allow staffers to get started, absorb useful learning experiences and hit the ground running with that knowledge right away.
“Courses need to be more succinct and to-the-point than ever, delivered in highly relevant, bite-sized pieces,” he added. “Cost may not be a priority for the CEO, but it will and should matter to the Training and Development team, and need to set the standard in cost-effective learning with a measurable ROI.”
The Skillsoft study reported that CEOs “prefer shorter courses” that enable staffers stay productive and effective on the job even as they receive outside training.
According to the American Society for Training and Development (ASTD), U.S. firms spend $1,067 per employee (about 2.7% of the entire staffing budget) to provide employees with an average of 32 hours of training programs annually.