In a recent publication, Josh Bersin, principal and founder at Bersin by Deloitte (www.bersin.com), reported that
US spending on corporate training grew by 15% last year (the highest growth rate in seven years) to over $70 Billion in the US and over $130 Billion worldwide.
One of the key findings of the study is that technology is revolutionizing the learning and development market. The research shows an explosive growth in technology tools to train people today. Self-authored video, online communication channels, virtual learning, and online courses are all growing rapidly as training tools.
The author sees significant growth in new virtual learning environments: companies like GE, Motorola, Philips, and others are reported to have extended their training budget to reach 2-3 times the audience through the use of easy to use training portals and virtual learning experiences.
Another striking observation is that high-performing companies spend more. Best-in-class companies spend significantly more on training than average.
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