Return to our Home page Search
Click here for the hotel and hospitality news from around the globe Hotel, Travel and Hospitality Articles Videos and in-depth Interviews
CONCIERGE DESK
Read more now
Read more now
Read more now
Training finally growing again - Part 2.
Sunday, 27th April 2014
Source : Joyce Gioia, Strategic Business Futurist
 

Last week we started a two-part series about the important topic of training budgets growing again;

In fact, spending on corporate training in the United States grew by a notable 15 percent last year---its highest growth rate in seven years.

Moreover, corporate training now represents over $130 billion USD worldwide. Since there is so much to share about this topic, here is Part 2 from the same source, the just-released "2014 Corporate Learning Factbook".

Spending on leadership development remains strong. The top areas of spending are management and leadership (35 percent) just as it has been in prior years. As Bersin's research on corporate talent shows, global leadership gaps continue to be top of mind for business and HR leaders. In addition, as Millennials assume positions of greater responsibility, companies will need to build leadership bench strength at all levels throughout the world.

In our experience at Employer of Choice International, Inc., high-performing organizations regularly spend more on training than others. Companies that invest in a total learning and development strategy spend more per employee than those that do not have such a commitment. This result clearly demonstrates that investment in learning and development provides a return on that outlay.

Technology is rapidly changing the learning and development playing field. There has been exponential growth in the number of training technology tools. Self-authored video, online communication channels, virtual learning, and Massive Open Online Courses (MOOCs, including the platforms of Coursera, Udacity, Udemy, edX), are all growing fast as training tools. People still need formal classroom education for some subjects---especially those requiring hard skills, but face-to-face education now represents less than half the total "hours" people spend in training worldwide.

Plus, among those companies that are on the leading edge, as much as 18 percent of all training is now delivered through mobile devices. Expect mobile platforms to continue to gain in importance. As we have written in the past, people value their cell phones over their laptops.

Both Bersin and I see significant growth in new virtual learning environments: companies like General Electric, Motorola, Philips, and others have extended their training budgets to reach two to three times the audience, through the use these training portals and virtual learning experiences. While most big companies still struggle to justify their training spend, the adoption of technology in training has accelerated.

Though the use of these platforms is growing extremely fast and we are thrilled that there is any investment towards the training, we remain unconvinced that these online platforms provide an effective long-term answer to the massive amount of training that is needed to bring people up to speed.

There are two factors that remain unaccounted for: 1. The ability of the new generations to learn this way and their willingness to expend the effort required for success with these technologies.

Copyright 1998-2014 by The Herman Group of Companies, Inc., all rights reserved. From 'The Herman Trend Alert,' by Joyce Gioia, Strategic Business Futurist. (800) 227-3566 or www.hermangroup.com

The Herman Trend Alert is a trademark of The Herman Group of Companies, Inc. Reprinted with permission.


~ Important Notice ~
Articles appearing here contain copyright material. They are meant for your personal use and may not be reproduced or redistributed. While 4Hoteliers makes every effort to ensure accuracy, we can not be held responsible for the content nor the views expressed, which may not necessarily be those of either the original author or 4Hoteliers or its agents.

Learn more about DigiJames - in room technology
Advertisment  
 Related News  (Click title to read article)
College graduates not prepared for work.
The Indian HR storyboard - Then and Now.
30% of companies ceased doing business with a partner due to possible bribery.
2014 Outlook on Travel, Hospitality and Leisure.
 Latest News  (Click title to read article)
Asia Pacific, led by China, dominates global business travel
Tuesday, 29th July 2014

Emerging markets grabbing bigger piece of the online travel pie
Tuesday, 29th July 2014

In Focus: Istanbul, Turkey
Tuesday, 29th July 2014

China overtakes the US as the world's largest economy: Impact on industries and consumers worldwide
Tuesday, 29th July 2014

Healthy Hotels: Risk and guest demand main reasons for abandonment of chlorine bleach
Tuesday, 29th July 2014
 Latest Articles  (Click title to read article)
Mid-Year Review: The Rising Tide of Mobile Bookings - How Hoteliers Can Stay Afloat
Tuesday, 29th July 2014

The 'Drink Up' Campaign Made a Measurable Difference
Tuesday, 29th July 2014

More Workers Taking Temporary Path To Being Hired Full-Time
Tuesday, 29th July 2014

South America's 'Fauxtels': Argentine Hotels that Borrow Big Names
Monday, 28th July 2014

Five Ways the New Facebook Layout Affects Hotels
Monday, 28th July 2014
 Most Read News  (Click title to read article)
Thailand Situation Updated - June 27: Thailand tourism gets stronger than ever
NH Hotel Group disposes Amsterdam asset
The Chinese Luxury Traveler - How destinations are decided and bookings made
News from around the Asia Pacific region, June 10
Alila and Commune create new lifestyle hotel management company

© Copyright 4Hoteliers 2001-2014 ~ unless stated otherwise, all rights reserved.
You can read more about 4Hoteliers and our company here

Use of this web site is subject to our
terms & conditions of service and privacy policy