In today’s challenging global economic climate, CEOs are increasingly realising the value of learning and development. That’s according to our latest research at Skillsoft which reveals that 93 per cent of business leaders in the UK will either maintain or increase their training budget over the next 12 months.

However, the reality of everyday business pressures in a competitive, 24/7 marketplace is also evident, with 42 per cent of the CEOs interviewed suggesting that the length of a course was a more important deciding factor than its content, highlighting a desire to complete training in shorter periods of time. Suprisingly, the format of delivery was deemed largely irrelevant, with a mere six per cent listing this as an important factor in choosing training.
The importance of professional development is further underlined by the fact that a surprisingly low number of the CEOs cared about cost. Just 13 per cent listed it as their most important consideration, while measurable return on investment from training mattered most to only seven per cent of respondents. For firms at the smaller end of the scale, an even higher proportion cared most about course length (49 per cent), while cost was of similar importance, with 12 per cent listing this as the top priority.
It’s great to see that business leaders are increasingly appreciating the value of learning and the benefits that it can have for their business. However, while training budgets themselves are not being cut, the time businesses have available to undertake training sessions is clearly shrinking. Courses need to be more succinct and to-the-point than ever, delivered in highly relevant, bite-sized pieces. Cost may not be a priority for the CEO, but it will and should matter to the Training and Development team, therefore businesses should look towards training courses that offer a measurable ROI.

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