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There is a critical need for a greater overall investment in education and training, particularly in developing countries, for all people (including women and groups with special needs, such as people with disabilities).
Despite the growing importance of human capital investments in promoting employability, productivity, economic and social inclusion very little is known about such investments on a systematic basis. The need to gather comprehensive and comparable information on investments in training, and to develop a better understanding of the commitment by governments, enterprises and individuals to acquiring and improving job-related skills, knowledge and competencies is, therefore, imperative. At the 88th session of the International Labour Conference in 2000, the General Conference of the ILO mandated the Office to "develop a database on current expenditure on vocational and continuing training; and suggest a series of benchmarks on investments in training, possibly differentiated for different regions of the world, size of companies or sector of industry”. This endeavour is proposed as one mean of encouraging countries, companies and individuals to increase current efforts to invest in training. Other complementary and necessary means to encourage individuals and enterprises to invest jointly or individually in human resources development can be provided by governments by creating an enabling environment, e.g., by fostering economic growth, providing tax and other incentives. The main objective of this work area is to analyse and disseminate information and/or “good practices” on innovative funding mechanisms and assemble systematic and comprehensive quantitative and qualitative data on participation and expenditures on vocational education and training to facilitate identification and determination of the resource costs and benefits of work-related learning on a comparable basis.
Find out more about Investment in Training
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