18 Jun Jennifer Recommends: Employer-sponsored Training Programs
Check out this intriguing study: http://www.ceeapla.uac.pt/uploads/pms/attachments/Paper15-2010.pdf.
It demonstrates that employer-sponsored training provides the same increase in job satisfaction as a 17.7% raise. What a return on a modest investment!
Too often executives agonize over how much to increase pay, but this study is part of an ongoing body of evidence that you don’t have to spend as much as you think, as long as your compensation is fair and competitive. You may need to invest differently to improve performance, though, if you’ve cut back your training budget.