Training budgets surviving downturn, finds survey

A new study has found that three out of four companies, including those that have staff doing marketing jobs, are not cutting their training budgets despite the economic downturn.

Nearly half of firms had estimated an annual training budget of up to £500 per employee, while a third (32 per cent) had set aside between £500 and £2,000 for each worker.

In addition, one in four companies had a budget of more than £10,000 per employee, HR Magazine reports.

Commenting, Christine Knott, managing director of Beyond the Box, said: "With 75 per cent of respondents maintaining a training budget, it is encouraging to see that training is by and large proving recession-proof as companies recognise the need in the current climate to build on their competitive advantage by investing in people as well as keeping motivation and morale high."

However, she added that budgets are at a low level and "it is obvious that caution is a prevailing factor at the moment".

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