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Training Market Report 2009
Key Note Publications Ltd, Nov 2009, Pages: 172
This Market Report examines the UK training market, which is under strain from tightened budgets in the public and private sectors. Although the industry is not being hit as hard as it was in previous recessions, it is nevertheless being affected by the need to trim corporate spending.
The report estimates that the amount spent on off-the-job training by UK employers fell by 5% in the year ending April 2009, with most of this money — or indeed a major proportion of it — spent on internal training. The report also estimates that UK employers spend around £3.14bn on external trainers. The market for training is much smaller than is commonly supposed. A massive amount of training is created in-house and delivered at a time and place that is convenient to the organisation.
The UK's training industry is large. Suppliers range from the traditional training company to IT companies and professional associations. There are also thousands of small, often family-owned firms and sole practitioners. This report lists around 60 leading training firms and organisations, which represent only a fraction of the total.
In several sectors of the economy it is being said that the recession is not only reducing the size of the sector, but that it is also changing it; it is believed that these changes would have happened eventually, but that they are now happening faster than they otherwise would have done. The same phenomenon may well be taking place in the training market. In 2009, organisations are being much more selective in the training that they invest in and they are spending money on what they regard as `must-have' (as opposed to `nice-to-have') learning and development packages. More importantly, organisations are bringing some of the training that they used to outsource back in-house. This trend was also noticeable in 2008. A considerable rise in price cutting and special offers from some very well-known names has also been evident. It is difficult to see these trends being reversed.
Three other themes are currently apparent. A lot of organisations are taking the time to argue the case for training, with a key priority for many trainers being to explain why it is necessary. A second trend has been to make training more cost-effective; organisations are constantly looking for ways to reap the rewards of training while lowering the costs of it. Thirdly, the evaluation of training has also become increasingly important; more ingenious and creative methods of evaluation are being developed. There is a view, which may be gaining ground albeit slowly, that neither the so-called `happy sheets' (i.e. `were you happy with the course?') nor return on investment provide the answers.
The report is forecasting a 2.5% fall in the value of the training market in 2010. Economic opinion is likely to fluctuate wildly in 2010, and the outlook for training is equally likely to shift a great deal. The new Budget from whichever government takes office in 2010 will set out more clearly what government spending cuts there will be. This, along with the election campaign itself, is likely to make businesses much more cautious in their spending.
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