Employee Training Costs: How Much Should Your Company be Spending?

As HR professionals are well aware, hiring and training new employees is often more costly than upskilling current ones.

A 2020 U.S. Bureau of Labor report shows that employee turnover costs corporations $1 trillion every year. What’s more, a recent Gallup Poll concluded that 87% of millennials see professional development opportunities as a deciding factor when choosing to join or stay with a company. As these statistics indicate, a training program can be a solid, long-term investment for businesses, particularly when the trainings are managed effectively.

This article will look at several factors that influence company training costs as well as provide some useful tips on how companies can reduce their upskilling budgets.

How Much Does it Cost to Train an Employee?

Read the full story by


5 Books that will help you build your brand Empower Student Voice With Two Digital Discussion Tools
We are updating our Privacy Policy, so please make sure you take a minute to review it. As of May 25, 2018 your continued use of our services will be subject to this new Privacy Policy.
Review Privacy Policy OK