The Latest Training Industry Statistics Explained
Training expenditures in the U.S. amounted to $83 billion in 2019.
The statistic ‘Training expenditures in the U.S. amounted to $83 billion in 2019’ indicates the total amount of money spent on various training programs and initiatives across different sectors in the United States in the year 2019. This figure reflects the significant investment made by organizations, businesses, and government agencies in developing and enhancing the skills and knowledge of their workforce through training activities. The substantial amount of $83 billion highlights the importance placed on continuous learning and professional development as a means to improve productivity, performance, and competitiveness in today’s rapidly evolving and competitive job market. This statistic underscores the commitment towards investing in human capital to drive growth and innovation in the U.S. economy.
The projected market value of corporate training in the US for 2020 is $33 billion.
The statistic stating that the projected market value of corporate training in the US for 2020 is $33 billion indicates the estimated total worth of the corporate training industry in the US for that year. This figure represents the anticipated expenditure by businesses and organizations in the US on training programs designed to enhance employee skills and development. The size of the market value highlights the significant investment made by companies to ensure their workforce is equipped with the necessary knowledge and abilities to drive performance and innovation. This statistic is essential for stakeholders in the training industry, including training providers, businesses, and policymakers, as it demonstrates the importance and scale of corporate training in the US economy.
E-learning accounted for approximately 26% of all training delivered in 2020.
The statistic that e-learning accounted for approximately 26% of all training delivered in 2020 indicates the significant shift towards online learning platforms and technologies as a preferred method of training delivery. This proportion suggests that more organizations and educational institutions have been adopting e-learning solutions to provide training and development opportunities to their employees and learners. The increase in e-learning usage can be attributed to factors such as technological advancements, convenience, flexibility, cost-effectiveness, and the global shift towards remote work and digitalization. This statistic underscores the growing importance and effectiveness of e-learning as a valuable tool in delivering training programs efficiently and effectively, especially in the context of the COVID-19 pandemic that accelerated the adoption of online learning methods.
73% of U.S. organizations are expected to increase their use of virtual reality in training over the next two years.
This statistic indicates that a significant portion—73%—of organizations in the United States are projected to enhance their utilization of virtual reality technology for training purposes within the next two years. This suggests a growing trend towards adopting virtual reality as a training tool among businesses and institutions. The implication is that more organizations are recognizing the potential benefits and effectiveness of virtual reality in enhancing their training programs, likely driven by factors such as advancements in technology, the need for innovative training methods, and the desire to improve learning outcomes. This statistic reflects a shift towards leveraging immersive and interactive virtual reality experiences to create more engaging and impactful training solutions.
43% of training professionals say the biggest issue they face is getting employees to make time for learning and development.
This statistic indicates that 43% of training professionals identify the biggest challenge in their role as getting employees to prioritize and allocate time for learning and development. This suggests that organizations may be struggling to engage their employees in continuous skill enhancement and professional growth initiatives. It highlights a potential disconnect between the expectations of training professionals and the willingness or ability of employees to actively participate in learning opportunities. Addressing this issue may require finding ways to incentivize or create a culture that values ongoing learning, as well as implementing strategies to make training programs more accessible and flexible for busy employees.
In 2019, 4.8 days were spent on employee training and development, on average.
This statistic indicates that, on average, employees spent approximately 4.8 days engaged in training and development activities in 2019. This metric reflects the commitment of organizations to improve the skills and knowledge of their workforce, which can lead to higher productivity, performance, and job satisfaction. The time spent on training and development signifies an investment in the ongoing growth and development of employees, highlighting the importance that businesses place on fostering a culture of continuous learning and improvement within the workforce. Analyzing this statistic can provide insights into resources allocated to training programs and the potential impact on organizational performance and employee engagement.
68% of people prefer to learn at work, making on-the-job training crucial.
The statistic that 68% of people prefer to learn at work highlights the significant reliance on on-the-job training in professional development. This percentage suggests that a majority of individuals find workplace learning to be an important and effective method for acquiring new skills and knowledge. As a result, companies must prioritize investing in training programs and resources to cater to the learning preferences of their employees. By recognizing the value of on-the-job training, organizations can enhance employee satisfaction, productivity, and ultimately, the overall success of their workforce.
56% of HR managers considered training and development to be essential departmental functions.
The statistic stating that 56% of HR managers considered training and development to be essential departmental functions indicates that a majority of HR managers surveyed deemed these activities as crucial components of their roles. This data suggests that HR managers prioritize investing in the growth and skill development of employees within organizations. By recognizing the importance of training and development, these HR managers likely understand the positive impact such initiatives can have on employee performance, job satisfaction, and overall organizational success. This statistic highlights the emphasis placed on continuous learning and professional growth within HR departments, underscoring the strategic value of workforce development in modern organizations.
Over 85% of companies use a Learning Management System to organize training.
The statistic “Over 85% of companies use a Learning Management System to organize training” indicates that the vast majority of companies have adopted a platform to centralize and manage their training programs efficiently. This high adoption rate suggests that Learning Management Systems have become a standard tool in the corporate environment for delivering and tracking employee training. Companies utilize these systems to streamline the learning process, ensure consistency in training content, track employee progress, and administer assessments. The widespread use of Learning Management Systems reflects a recognition by organizations of the importance of ongoing employee development and the benefits of utilizing technology to enhance training effectiveness.
54% of employees believe they aren’t achieving their full potential due to a lack of development opportunities.
The statistic indicates that a majority of employees, specifically 54%, feel that they are not reaching their maximum capabilities in their current roles because they lack opportunities for development. This suggests that there may be a disconnect between the skills and potential of employees and the resources or opportunities provided by their employers. The finding highlights the importance of investing in professional development programs and initiatives within organizations to help employees reach their full potential, improve job satisfaction, and increase overall productivity. Addressing this gap could lead to a more motivated and engaged workforce, ultimately benefiting the company as a whole.
On average, companies used 38 different learning methods in their training programs in 2018.
The statistic that companies used an average of 38 different learning methods in their training programs in 2018 suggests that organizations are diversifying their approaches to employee development and learning initiatives. This indicates a recognition among companies of the importance of offering a variety of learning opportunities to cater to different learning styles and preferences within their workforce. By incorporating a wide range of learning methods, such as lectures, workshops, online courses, on-the-job training, and simulations, companies can create a more comprehensive and effective training program that is more likely to engage employees and enhance their skills and knowledge.
Small businesses (500 employees or fewer) spent $1,695 per employee on training in 2019.
The statistic “Small businesses (500 employees or fewer) spent $1,695 per employee on training in 2019” indicates the average amount allocated by small businesses for training per employee within a given year. This statistic demonstrates the importance small businesses place on investing in the development and upskilling of their workforce to enhance productivity, performance, and competitiveness. By allocating a substantial amount towards training and development, these businesses are likely aiming to increase employee skills, knowledge, and capabilities in order to adapt to changing market dynamics, improve employee retention, and ultimately achieve business growth and success.
In corporate learning, 98% of organizations intend to incorporate video as part of their digital learning strategy in 2021.
The statistic indicates that a significant majority (98%) of organizations in the corporate sector have expressed their intention to include video as a key component of their digital learning strategy in the year 2021. This suggests a growing trend towards utilizing video-based educational content for training and development purposes within these organizations. The shift towards incorporating video may be driven by its effectiveness in enhancing engagement, improving knowledge retention, and accommodating different learning styles. This statistic highlights the importance that organizations are placing on leveraging technology and multimedia tools to enhance their learning and development initiatives in order to better meet the needs of their employees and stay competitive in the evolving business landscape.
70% of organizations are considering a new learning technology purchase in 2021.
The statistic that 70% of organizations are considering a new learning technology purchase in 2021 implies a strong trend towards adopting new digital tools for employee learning and development. This high percentage suggests that organizations are recognizing the importance of investing in technology to enhance their training programs and keep up with the changing landscape of remote work and digital transformation. The data reflects a proactive approach by organizations to leverage innovative learning solutions that can improve the efficiency, effectiveness, and accessibility of their training programs in response to the challenges posed by the global pandemic and the evolving demands of the digital age.
Workers lose 40% of skills learning after one month if not applied or practiced.
The statistic that workers lose 40% of skills learning after one month if not applied or practiced highlights the importance of consistent practice and application of new skills in order to maintain proficiency. This finding implies that without regular reinforcement and use of newly acquired skills, individuals are likely to experience a significant decline in their skill level over a relatively short period of time. Employers and individuals alike should take this statistic into consideration when planning training programs and skill development initiatives, emphasizing the need for ongoing practice and practical application to ensure that skills are retained and effectively utilized in the long term.
42% of organizations increased their spending on online learning technologies in 2020.
The statistic “42% of organizations increased their spending on online learning technologies in 2020” indicates that a significant proportion of organizations directed more financial resources towards online learning tools and technologies during the year 2020. This increase in spending suggests a growing recognition among organizations of the importance of online learning for employee development, skill enhancement, and training in response to the challenges posed by the COVID-19 pandemic. The data implies a shift towards a digital learning environment to adapt to remote working conditions and ensure continuous professional development amidst the disruptions caused by the global health crisis.
The average cost to train each employee is $1,252.
The statistic “The average cost to train each employee is $1,252” provides insight into the financial investment required to train a single employee within an organization. This average cost takes into account all expenses associated with training, such as materials, trainers’ fees, equipment, and facility costs. By understanding this statistic, organizations can effectively budget and plan for employee training programs, ensuring that they allocate sufficient resources to develop and enhance their workforce’s skills and knowledge. Additionally, monitoring this average cost can help companies evaluate the efficiency and effectiveness of their training programs and make informed decisions regarding future investments in employee development.
87% of millennials rate “professional or career growth and development opportunities” as important to them in a job.
The statistic that 87% of millennials rate “professional or career growth and development opportunities” as important in a job highlights a significant trend within this demographic group. This suggests that the majority of millennials highly value opportunities for advancement and skill development within their careers, indicating a strong interest in continuous learning and progression. Employers looking to attract and retain millennial employees should pay close attention to providing avenues for professional growth, as this factor appears to be a key consideration for this demographic when choosing a job. This statistic underscores the importance for organizations to offer clear paths for development and advancement in order to appeal to millennial workers and foster a motivated and engaged workforce.
Mobile learning technologies will reach $78.5 billion in global revenue by 2025.
The statistic indicates that the global revenue generated by mobile learning technologies is projected to increase to $78.5 billion by the year 2025. This suggests a substantial growth in the market for mobile learning technologies, driven by factors such as the increasing adoption of smartphones and tablets, advancements in digital learning tools, and the rising demand for flexible and accessible educational solutions. The significant revenue forecast highlights the expanding opportunities within the mobile learning industry, signaling a shift towards mobile-based educational platforms and services that cater to the needs of a diverse and tech-savvy learning population worldwide.
Conclusion
Understanding and utilizing training industry statistics is crucial for organizations to make informed decisions, improve performance, and stay competitive in today’s ever-evolving business landscape. By analyzing trends, benchmarks, and data, companies can effectively tailor their training programs to meet the needs of their employees and maximize results. Moving forward, it’s important for businesses to continue leveraging statistics to drive continuous improvement and achieve long-term success.
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