Outsourced Training and Facilitation in Australia
Identify the value in dollars spent on outsourced training and facilitation by Australian businesses in recent years. Outsourced training and facilitation includes professional development, leadership training, compliance, technical and organizational development. If possible, identify the value in dollars spent on each of the kinds of training as well. Furthermore, identify the top consultancies in this sector and their annual revenues.
Spending on Training and Facilitation
- Australian businesses are spending $4.5 billion on formal training annually.
- In a survey by TAFE Enterprise, 41% of businesses reported that they spend more than 5% of their annual earning on training.
- Businesses in New South Wales spend an average of $1,685 per employee on training and development.
- In 2017, Australian businesses with fewer than 200 employees spent 5.75% of earnings on training, while businesses with between 200 and 499 employees spent 4.4% of earnings on training.
- In 2013, Australian businesses spent approximately $9.2 billion (USD) in training expenditures.
Other Relevant Information
- Around 80% of Australia businesses believe they should invest more in staff training.
- Providing training is the second most effective way of keeping staff for Australian businesses, behind pay and incentives.
- Approximately 47% of Australian businesses are unsure about the return on investment of their training spend.
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