A 2009 survey reported that the average technology based company spent an average of 8% of its annual budget on employee training. Another survey reported that the cost of training a new employees averaged 23% of the employees first year income. An employer was quoted that the expense of training an employee and the employee leaving is nowhere close to not training an employee and the employee deciding to stay.
Training is the most basic of duties for a business to grow and remain successful yet it is the most often overlooked. Training is considered a long term process whose rate of return is slow to recognize. Companies often fail to recognize the importance of training until it is too late. However, training is not a guarantee in itself. Training must also be effective and relevant to the recipient.
My name is Dr. Steven M. Smith and I earned my PhD by studying the effectiveness of employee training in technology industries. I was driven to this study from my years of experience as a manager is retail, food services, and office environments throughout my own career.
Read about my studies here: Research.
I also offer training and education services here: Services.