Costs and benefits of education and training for the economy, business and individuals
English
Governments
Governments hold a wealth of knowledge on skills development, and are increasingly realizing the value of learning from each others’ experiences. Their policy documents, programme evaluations, and research findings contain their experience and ideas on how to better link skills to employment
TVET institutions
Technical and vocational education and training (TVET) institutions play an important role in equipping young people to enter the world of work and in improving their employability throughout their careers. The Global KSP collects and shares information from TVET institutions on how they respond to changing labour market needs, adopt new training technologies, expand the outreach of their training, and improve the quality of their services including in the areas of governance, financing, teacher education, and industry partnerships.
Financing of training
Initial education and training and lifelong learning benefit individuals, employers and society as a whole. Economic principles dictate that the costs for services with public and private benefits should be shared between public and private funding, or else too little training will be provided or taken up. Effective mechanisms for financing skills development vary according to countries’ economic and political circumstances and the degree and level of social dialogue established.
Training quality and relevance
Research papers
Working papers, reports, and other publications from international organizations, academic institutions and bilateral agencies. Research findings to stimulate informed debate on skills, employment and productivity issues.
the government (at the economy level),
business (or industry at a broader level),
the individual (or groups of individuals).
This paper considers a broad array of costs and benefits accruing to each of these perspectives, broadly dividing them into two categories: financial (market) or non-financial (non-market). It also describes some of the challenges encountered in investigating the costs and benefits and estimating the return on the investment in VET.