Employee Training Services Procurement Intelligence
In this employee training services intelligence report, we have estimated the price of the key cost components. Employee training services involve various cost components, including content development, instructor or facilitator fees, technology and infrastructure costs, venue and equipment expenses, travel and accommodation costs, and administrative costs. Content development accounts for 30% of the budget, followed by instructor fees, technology and infrastructure, venue and equipment expenses, travel and accommodation costs, and administrative costs. Optimizing these components ensures effective training outcomes while managing costs efficiently. Off-site locations may also result in travel and accommodation costs.
The price of employee training services varies depending on the type of training, delivery format, number of participants, duration, expertise of trainers, customization, technology requirements, location, materials and resources, and evaluation and feedback. The price of employee training is significantly influenced by various factors, including the type of training, delivery format, number of participants, duration of the training program, expertise of trainers, customization, technology requirements, location, and evaluation and feedback mechanisms. Onboarding training for new employees typically costs between USD 500 and 1,000 per employee, while specialized skills training prices can range anywhere from USD 1,000 to 5,000 per employee. The duration of the training program also affects the prices, as longer programs require more resources and time to develop and deliver. Experienced trainers charge higher fees than less experienced ones, while customized training programs are typically more expensive than off-the-shelf programs. Technology requirements, such as simulations or virtual reality, also affect the price, with programs using technology being more expensive than those without. The location also plays a role in the cost, with high-cost areas typically being more expensive than lower-cost areas. Finally, evaluation and feedback mechanisms can increase the cost of a training program, as they require resources such as time and money.
Order your copy of the Employee Training Services category procurement intelligence report 2023-2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis
Operational Capabilities - Employee Training Services
- Industries Served - 25%
- Years in Service - 15%
- Revenue Generated - 15%
- Employee Strength - 15%
- Geographic Service Provision - 10%
- Certification - 10%
- Key Clients - 10%
Functional Capabilities - Employee Training Services
- Technical Training - 30%
- Soft Skills - 25%
- Quality Training - 25%
- Compliance - 10%
- Others Training Program - 10%
Rate Benchmarking
Rate benchmarking is a critical process for businesses to ensure they are getting a fair price for their employee training services. The employee training services category is highly competitive, and prices can vary significantly depending on a number of factors. For example,
- Skillsoft and LinkedIn Learning are prominent players in the field of employee training services. Skillsoft offers a range of training solutions, with prices varying based on the specific programs required. Their courses cover diverse topics and begin at competitive rates. For instance, their leadership development training starts at USD 2,000 per module and USD 35 per month. On the other hand, LinkedIn Learning provides a comprehensive platform for professional development. Its plans encompass a wide array of courses and begin at USD 29.99 per month and USD 1,900 per module making it an accessible option for individuals and businesses seeking to enhance their skill sets.
By benchmarking rates, businesses can gain valuable insights into prevailing market trends, competitive pricing strategies, and areas where potential cost optimizations can be made. This information can be used to make more informed decisions about employee training services and to ensure that businesses are getting the best possible value for their money.
Supplier Newsletter
- In March, 2023 A learning and talent-development company named Hemsley Fraser has announced the acquisition of STS, a project management training company, and MindOnSite (MOS), a maker of online training systems. With the addition of new technologies like gamification, learning management systems (LMS), smart learning portals, and project management simulation tools, the purchases will improve Hemsley Fraser's product portfolio.
- In February, 2023 GSoft, a Montreal-based software company, has acquired Didacte, a learning management system (LMS) platform provider. GSoft offers employee experience solutions like ShareGate, Officevibe, and Softstart, while Didacte provides a web-based LMS platform for training courses.
- In March 2021, John Wiley and Sons Inc, a global leader in research and education, partnered with NUS Advanced Computing, a leading provider of executive education in Singapore, to launch a global certification program aimed at bridging the technology skills gap. The program offers a series of professional short courses in in-demand technology skills, such as data analytics, design thinking, and user experience. The courses are both instructor-led and self-paced which can be completed in two to three days. The program is open to learners from all over the world and is designed to help them upskill and reskill for the digital economy.
List of Key Suppliers
- Skillsoft
- LinkedIn Learning
- Pluralsight
- Cornerstone On Demand
- Udemy for Business
- OpenSesame
- GP Strategies
- D2L Brightspace
- SAP Litmos
- Coursera for Business
- EdCast
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Employee Training Services Procurement Intelligence Report Scope
- Employee Training Services Category Growth Rate : CAGR of 8% from 2023 to 2030
- Pricing Growth Outlook : 3% - 4% (Annually)
- Pricing Models : Cost plus pricing, subscription-based pricing
- Supplier Selection Scope : Cost and pricing, past engagements, productivity, geographical presence
- Supplier Selection Criteria : Technical expertise, experience, cost and quality of service, capabilities and reliability, customer service
- Report Coverage : Revenue forecast, supplier ranking, supplier positioning matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model
Brief about Pipeline by Grand View Research:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.
Our services include (not limited to):
- Market Intelligence involving – market size and forecast, growth factors, and driving trends
- Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
- Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
- Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions
