According to a 2022 survey, an increasing share of learning and development (L&D) professionals intended to deploy large scale upskilling or reskilling programs compared to 2021. Furthermore, a quarter of respondents said that they intended to deploy data analysis or analytics training programs at their organizations in 2022.

For 2022, increasing skills of existing staff to offset need for outside hiring, followed by retention strategy are driving forces for reskilling and upskilling efforts. By contrast, only 38 percent of human resources and workforce learning professionals designated competitive strategy to elevate internal technical/digital skills as a main motivation.

Reskilling and upskilling have become increasingly important in the workplace. Many companies have developed strategies to quench the need of continuously training their employees. According to a survey conducted in 2024 among employees in the United States, 71 percent of respondents said that they were satisfied or very satisfied with their company's reskilling and upskilling training.

At least two thirds of respondents in the majority of markets included in a 2022 survey said they would be very interested or extremely interested in training in a digital skill within the next two years. Emerging economies lead the way, with India topping the ranking. Japan ranked last, with only around half of respondents expressing interest in obtaining training. Training in is often considered a core facet of broader digital transformation efforts, with organizations seeking to upskill their workforces as they embrace new technologies, while workers seek to command higher salaries and increase employability.

As of June 2022, the most funded upskilling company was Articulate, followed by Degreed. Located in New York, the United States, Articulate develops e-learning software, content and community that provides online training courses. With over 40 thousand customers worldwide, the company had a funding worth 1.5 billion U.S. dollars.

In 2022, learning and development professionals considered leadership and management to be the most important aspect of workplace training. Between 2021 and 2022, two new areas of focus deemed to be important were introduced into the survey in diversity, equity, and inclusion, and digital upskilling/digital transformation.

According to a 2022 survey conducted among employees in the Asia-Pacific region, 45 percent of employers in the region counteracted skill and labor shortages in their companies by upskilling existing employees. In comparison, 33 percent stated that their companies automated work via technology.

According to Cognitive Market Research, the global HSE consulting & training services market size was USD 41.9 billion in 2022 and will grow at a compound annual growth rate (CAGR) of 7.10% from 2023 to 2030. Factors Affecting HSE Consulting and Training Services Market Growth

Increase in Stringent Government Regulatory Compliances to Fuel Market Growth

Governments have imposed different rules and regulations on various organizations to implement enterprise risk management through a flexible, easy-to-use information system. This helps companies evaluate, identify, analyze, and consider opportunities and risks to protect corporate brands and create shareholder value. Furthermore, different rules and regulations imposed by governments in different countries affect the growth of risk management software.

For instance, the Singapore government has introduced a new regulatory framework that uses civil and criminal measures for financial benchmark manipulation.

(Source:www.pinsentmasons.com/out-law/news/singapore-set-to-criminalise-manipulation-of-financial-benchmarks)

The Factors Hindering the Growth of the HSE Consulting & Training Services Market over the projected period

Lack of Skilled Workplace Safety to Hinder Market Growth

Safety professionals have dedicated niche jobs to help with specific workplace health and safety-related tasks. Workplaces face several challenges regarding HSE training and consulting services, which can instantly impact workers physically and mentally. Upskilling employees in health, safety, and well-being can particularly help mitigate the risks associated with these challenges. With rapidly developing workplaces, safety professionals are now assigned numerous responsibilities. Organizations must direct safety professionals toward utilizing tools and resources that can be incorporated into workplace safety solutions to enhance worker lives. Safety professionals prepared with all these skill sets are challenging to find. However, that is starting to change, as many other businesses realize the requirement for employing professionals to control costly accidents to employees and employment. Employers are preparing the current safety professionals to provide them with the required skill set. Health and Safety officials are required in every industry to satisfy regulatory requirements.

Impact of the COVID-19 Pandemic on the Consulting & Training Services Market

The emergence of COVID-19 considerably impacted the growth of the HSE consulting & training services market. Spending on the risk management software industry was increased compared to spending planned before the pandemic, owing to numerous factors such as growth in work-from-home culture among industries and a rise in the risk of cyber-attacks and other security issues. Furthermore, the COVID-19 pandemic has radically changed the daily lives of people, work, and the surrounding environment. What is the HSE meaning?

HSE consulting and training services provide the broadest range of general and specific health, safety & environmental services across the globe. This service has used the enhancement of the services and productivity of any firm. With technological advancement in this industry, there is various AI-enabled software available in this industry. With organizations recognizing that a proactive approach to injury prevention and treatment reflects an institution's commitment to employee well-being, HSE consulting & training services have evolved into an on-the-job priority.

According to the Health and Safety Executive, Britain's national regulator for workplace health and safety, in 2021-2022, 565,000 working people sustained an injury at work, according to the Labor Force Survey.

(Source:www.hse.gov.uk/statistics/)

Explore the Corporate Training Market trends! Covers key players, growth rate 5.4% CAGR, market size $514.38 Billion, and forecasts to 2034. Get insights now!

The thing that keeps open source professionals from changing jobs, according to a 2022 global survey of open source professionals, is a higher salary, with over half of respondents indicating as such. More training opportunities and flexible work schedules are also important to open source professionals.

Nearly one in two employees in Poland in 2022 would be more likely to continue working for their employer if they could retrain or upgrade their skills through their company.

The average per-employee spending on learning and development (L&D) worldwide increased steadily between 2008 and 2019, however fell slightly in 2020. This figure increased again in 2021, reaching almost 1,300 U.S. dollars per worker. There was then a 4.7 percent expenditure decrease in 2022.

Workplace learning and development
Learning and development (L&D), a crucial area of human resource management, is a process aimed at improving an employee’s skills, knowledge, and competency, so to achieve better performances in the workplace. Despite a decrease in 2020 because of the COVID-19 pandemic, the global market size of the workplace training industry increased considerably since 2009. North America alone accounted for almost half of the global market. The growing relevance of workplace training can also be inferred by the increase in the workplace learning hours for employees worldwide.

L&D promotes employee engagement
Employee engagement supports growth through a wide range of benefits, including higher productivity and profitability, and more satisfied customers. Overall, learning & development might help supporting employee engagement. Investing in learning shows employees that they are valued, which generally increases their motivation in the workplace. Employees’ support for L&D is suggested by the considerable share of young workers perceiving it as a useful method to find opportunities within the organization. Moreover, for an effective L&D implementation it is useful to consult employees about their expectations: according to a 2019 survey, half of employees worldwide felt the urge to improve their influencing and negotiating skills. Furthermore, the most popular learning method among employees worldwide was learning in a classroom with a group of colleagues.

According to a survey about workers sentiments in of the workforce in the Middle East region in 2022, around 47 percent of the respondents were more likely to address skill and labor shortages by upskilling workers. The survey respondents were from Saudi Arabia, United Arab Emirates, Kuwait, and Qatar.

Between 2022 and 2023, the majority of companies worldwide agreed that offering higher wages as well as improving talent progression and promotion success were the most important practices in improving talent availability. Providing effective reskilling and upskilling also played a significant role globally, particularly in South Asia.

In the U.S. training industry, the expenditure per learner in small companies, midsize companies, and large companies fluctuated between 2015 and 2023. In 2023, small companies, with between 100 and 999 employees, spent roughly 1,420 U.S. dollars per learner on training - a slight increase compared to the previous year. Midsize companies, with between 1,000 and 9,999 employees, spent 751 U.S. dollars per learner on training - a decrease from the previous year. Large companies, that is, companies with over 10,000 employees, spent 481 U.S. dollars per learner on training - a significant decrease compared to the previous year, equivalent to less than half the expenditure compared to 2022.

Corporate training expenditure in the United States decreased by almost four billion U.S. dollars in 2024 when compared to the previous year. Following a dramatic increase of over 20 billion U.S. dollars from 2016 to 2017, total expenditure on workplace training in the United States dropped from 93.6 billion in 2017 to 82.5 billion U.S. dollars in 2020 before climbing to 101.8 billion in 2023. Training expenditureTraining expenditure includes the budget allocated by companies for training activities, spending on training-related technology, and the salaries paid to internal training staff. Aside from salaries, the money spent can either be on training activities provided internally, or on external training services. Some aspects of training are more often outsourced than others. For instance, LMS operations or hosting was most commonly outsourced in 2023. Wages constitute the largest share of internal training expenditure, followed by general expenses such as facility hire, travel and equipment. Workplace trainingWorkplace training is conducted to teach staff members the specific skills they need to perform their role, such as how to use required software or manage certain types of interpersonal interaction. This is to be distinguished from learning and development, which includes teaching broader skills not strictly necessary for an employee’s job. The specific and often knowledge-based subject matter of workplace training means that technological solutions are often viable. Knowledge-based training such as teaching a company’s compliance policy are often provided via an online platform. However, many employees believe traditional forms of face-to-face training are more effective than technology-driven solutions.

According to a survey conducted in 2022, the top motivator for prospective students to pursue an MBA program or other graduate business school program was to enrich their lives and develop their potential, with 79 percent of prospective graduate business students sharing this belief.