December 2003

Do you train enough?

How much do you spend on employee training? It’s hard to keep up with the “Jones’,” especially when the Jones’ are bigger businesses. But since you compete with them for competent employees, it’s important to know trends in hiring, compensation and training.

According to a new survey from the American Society for Training and Development (ASTD), companies in the United States spent an average of 2.2 percent of their payroll on training and development for employees, up from 1.9 percent in 2001. Training expenditure per employee was approximately $826, with each employee average 28 hours of training time.

The survey also showed that the employee group receiving the largest percentage of training dollars in 2002 was customer service.

ASTD is an organization of more than 70,000 workplace learning and performance professionals, representing 15,000 organizations.

Source: American Society for Training and Development, www.astd.org

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