Forbes recently reported that corporate spend on training and development is projected to grow due to the continued recovery. According to the 2014 Corporate Learning Factbook, US companies spent 15% more on the training and development of their employees last year – $70 billion in total. Employers realize that by developing their existing employees, they can fill skill requirements more easily. If companies are spending more on training programs, is their hiring for Training and Development Managers or Specialists also increasing?
Recently, the demand has actually declined for training and development jobs. In January, there were about 21,000 jobs posted online for Training and Development Specialists, a 13% decline from last January. In fact, T&D jobs reached a peak in demand back in October 2012, and since then have slowly declined. This is an interesting trend since corporate training activity is often an indicator of economic health – slowing companies typically decrease training budgets, while growing business will increase the training of new hires, company leaders, and their sales teams.
Training and Development Specialist Hiring Demand – 4 Year Trend
While overall hiring might be slowing, we wanted to look at specific industries to see if this could indicate sectors with increased hiring for training and development professionals. The industries with the most training and development job advertisements in January were:
- Insurance Agencies and Brokerages
- Engineering Services
- General Medical and Surgical Hospitals
- Computer Systems Design Services
- Furniture Stores
Of these 5 industries, only 2 experienced growth between January 2013 and January 2014: Insurance Agencies and Brokerages (+63%) and Furniture Stores (+200%). Furniture stores surprised us, but when we looked at the job ads, we saw that trainers were needed for retail sales staff and for truck drivers. Since we've seen an increase in demand for truck drivers and difficult recruiting conditions, it seems that many companies are willing to hire drivers with little or no experience and provide them with internal training programs. This is one way that employers across all industries may be able to develop sourcing strategies for hard-to-fill jobs.
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