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Training Market Report 2004
Key Note Publications Ltd, Nov 2004, Pages: 123
This report focuses on the UK training market. The report estimates that, in 2004, private sector expenditure on training will rise by 2.5% to £17.8bn, although this is lower than the 2001 figure of £17.9bn. In the financial year ending 2003/2004, it is estimated that public sector expenditure initiatives on training amounted to £11.6bn.
It is believed that the UK training market is experiencing a significant change and the industry that serves it is struggling to keep up with its clients. The training market has proved to be a difficult one for companies to operate in, which is reflected in the reduced profits recorded by most of the training providers that file public accounts. Clients are becoming increasingly selective in what training they do and how much of it they outsource. Some sectors of the market, such as information technology (IT) and accountancy/finance, have experienced very difficult conditions in 2003 and 2004, whereas others are just about managing. Many companies have yet to prove that they truly believe in the concept that people are a company’s most important asset, as training still has to sell itself. This is obvious from training conferences; according to those who organise training conferences, the one session that is always a sell-out year after year is the one that centres on the evaluation of training. The reason for this is that training managers are continually searching for ways to justify what they are doing.
The UK training market is served by a variety of providers, ranging from sole practitioners and training companies to business schools and professional organisations. All of these providers are being forced to realise the fact that the market is changing. For this report, Key Note spoke to a number of training specialists, including Martyn Sloman — Training Adviser at the Chartered Institute of Personnel and Development (CIPD). Sloman argues that there is a shift in training away from the top-down intervention towards much more learner-centred initiatives. He believes that the growth in training is being derived from the interventions that are focused on the individual, hence the popularity of coaching.
This report also examines the latest survey report from the CIPD — Training and Development 2004 — which focuses on training practices in the UK, and the follow-up report Reflections: New Trends in Training and Development 2004. One point that the CIPD revisits in its reports is that for training to be effective, line managers need to invest time and effort in making it happen. Between 2005 and 2009, it is forecast that there will be a fairly modest growth in employer expenditure on training. In 2005, employer expenditure on training is expected to rise by 2.5% to £18.3bn. Following this, expenditure is forecast to increase between 2% and 2.5% each year.
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