The Investment of Learning and Development
The average Global 1000 company has over 1,000 hours of learning content within it’s training portfolio. The development of this portfolio requires an average of $18 million.
So, where does each Dollar go? Well if you were to try and track a dollar invested in training and development, it would look something like in this Infographic:
15 Cents Goes Toward Subject Matter Experts
Borrowed company resources, Subject Matter Experts are often highly paid senor resources at the top of their respective divisions within the company who consult with the training department.
They have other job responsibilities and their time is valuable resulting in a large organizational investment in training.
45 Cents Goes Toward L&D Developers
L&D developers design and develop corporate training programs. They are capable to go to business units, elicit training needs, and design programs to address those needs.
15 Cents Goes Toward Instructors
Instructors are called upon to deliver training programs within the company. They are a payroll investment and a vital part of the training function since they interface directly with employees.
25 Cents Goes Toward Managers
It is a payroll investment to keep training, learning, and talent development managers on staff to oversee company training functions. Managers give direction to projects, take responsibility for deliverables, and lead their respective teams of trainers and instructional designers.
Maximize the Investment
Companies have an average training expenditure of $1,200 per employee per year, and over the years, the time and budget spent on curricular design and the creation of learning assets represent a significant investment in company resources.
Unfortunately, most companies are not getting the most out of this investment. The average reuse rate year over year for learning content is only 50%. While learning content does age and become less useful over time, that doesn’t mean old content doesn’t have value.
To read more about getting the most value out of your money already invested in training and learning content, read Modernize, our content strategy guide for maximizing corporate training ROI.