I would be pleased to hear from Companies, what percentage of their turnover is allocated to training.
Also, does this include the hidden costs such as the labour costs for the people not in work or for those off their job.
Rob Hunter
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2 Responses
Percentage of budget
Rob
We allocate 10% of our overall budget to training and development, but we may not be the average. The CIPD have lots of statistics regarding this area, I’m sure you could find them on line.
http://www.cipd.co.uk
Money Money Money
Rob,
We allocate about 8% of T/O to training & development, but the budget is not calculated using T/O as the basis. The five year business plan does use T/O for guidance along with known change progs. The budget uses the annual TNA and does include staff costs, lost opportunity etc.
As indicated the CIPD publishes an annual training survey that includes this sort of detail.
Chris