According to the recent Corporate Learning Factbook 2014, published by Bersin, enterprises in the US are investing big time in employee development. Training budgets have increased by 15% in 2013. The study was conducted by polling about 300 companies in the last quarter of 2013.
While this is an encouraging sign for the Learning & Development functions, I am not sure if enterprises are mature enough to sustain this bullishness in employee development. Just look at the graph below and you will see a warning sign.
The dramatic cut back in training budgets in 2008 and 2009 serves as a reminder about the relative importance of training initiatives when the economy tanks. I am curious to find out how companies that performed well (even during the tough times) fared when it comes to training investments.