Training and development spending 'set to increase'

Training and development spending is set to swell over the next 12 months, it has been claimed.

Human resources consultancy firm Mercer believes that over the following year, close to 50 per cent of west European firms intend to increase spending, not just on learning and development, but also training.

The firm is basing its findings upon the responses of 200 multinational organisations.

"Companies in western Europe are looking at increasing choice in rewards as a way of differentiating themselves from competitors," said Paul O'Malley, the principal of Mercer.

"Investing more in training and career development is one such tactic in talent management strategies and should help increase employee engagement and satisfaction."

Of the 200 organisations polled, four per cent indicated that spending would decrease in 2008.

Mercer is a subsidiary of Marsh & McLennan Companies, a US-based firm established in 1905.