There is no doubt that employee training can be an expensive proposition. Indeed, U.S. companies have budgeted $56.8 billion dollars for formal training, this year, according to Training magazine. Of those costs, $19.3 billion will go to outside training providers. And that's not counting the added costs of transportation, hotels, meals and associated expenses when employees are sent to off-site training locations, as well as the lost production time.
Employers, naturally, are looking for a payback on their training investments. The good news is that spending on workforce training has long been tied to increased productivity and bottom line improvements, along with heightened employee loyalty and morale. Studies show that employees value an investment in their education and think more highly of employers who are willing to spend money to keep their workers' skills up to date.