The book builds on CEET's review of the economics of vocational education and training for the Australian National Training Authority in 1994. Seven chapters discuss: the overall purpose of the review; changing employment patterns; demand for VET; supply of VET; special supply issues; finance and market issues; and finally, future research, access and equity, and research impact.
Is spending on training personnel worthwhile? Many of the firms in the research reported here believed so; and what is more, results in manufacturing (footwear, wire products) suggest that it delivered sizeable returns in labour productivity. Importantly, findings support the view that firms should be undertaking long-term strategic planning, not just targeting day-to-day problems. The research sought to investigate whether comparative case studies of similar enterprises could be used to demonstrate a relationship between training expenditure and productivity. The method proved ineffective in the services sector (top class hotels, supermarkets), apparently because of greater differences between enterprises.