Training is higher on the agenda of small companies than their blue chip counterparts, according to a survey by Investors in People.

IIP found that only 10 per cent of companies surveyed with a £20 million turnover saw staff development as a top priority compared to 58 per cent of those with a £50-100,000 turnover.

The research, involving 906 employers and their staff, also found that more than half of employees felt their companies failed to address their training and development needs. However, 63 per cent of their employers disagreed with them.

Ruth Spellman chief Executive of IIP said that the results showed smaller companies had a strong commitment to staff development.

'Often, SMEs do not have HR departments, so owner-managers must take responsibility themselves for creating an environment of inclusion and success.'

She added that staff training and development was 'the most cost-effective decision' a business could make.

'Employees are central to business success so it is vital for staff to be skilled, flexible and motivated; this can be achieved through planned and consistent development and training,' she said.