Professional and Management Development Training
Industry Profile Report
Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters
Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.
Call Preparation Call Prep Questions, Industry Terms, and Weblinks.
Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.
Industry Profile Excerpts
Industry Overview
The 6,300 professional and management development training companies provide continuing education, training, and career development programs through short courses and seminars. While training programs help clients learn specific knowledge or skills to improve performance in a current role, development programs focus on growth and future performance. Common areas of training and development include general management; technical knowledge and skills; leadership; diversity, equity, and inclusion (DEI); environmental, social, and governance (ESG); executive education; certification; and soft skills.
Dependence on Client Industry Performance and Economic Conditions
Demand for professional and management development training is dependent on the financial health of client industries, which is driven by general business and economic conditions.
Applying Technology to Leadership Training
Technology has helped elevate training platforms and improved engagement in management development initiatives.
Industry size & Structure
Industry Forecast
Professional and Management Development Training Industry Growth
Recent Developments
May 11, 2024 - Moderate Sales Growth Expected
- Professional and management development training industry sales are forecast to grow at a 5.17% compounded annual rate from 2023 to 2027, faster than the growth of the overall economy, according to Inforum and the Interindustry Economic Research Fund, Inc. Industry employment was unchanged during 2023, according to the US Bureau of Labor Statistics.
- Bankruptcy filings continue increasing toward pre-pandemic levels, according to Fitch Ratings, and professional and management development training services may be negatively impacted if spending on training by client organizations is reduced. Overall corporate bankruptcy filings increased 40% to 18,926 in 2023, normalizing from 13,481 filings in 2022, but remain around 18% below the pre-pandemic average from 2016 to 2019. Chapter 7 liquidations increased 32% year over year in 2023, while Chapter 11 reorganizations increased 58% for the year. Higher-for-longer interest rates and approaching loan maturity walls will lead to an up-tick in high-yield and leveraged-loan defaults, including distressed debt exchanges and corporate bankruptcies, according to Fitch.
- About 48% of Human Resource (HR) professionals surveyed by the Society for Human Resource Management (SHRM) cited training and education programs as the most effective recruiting tool at their disposal. Employees with access to professional development opportunities are 15% more engaged in their jobs, which led to a 34% higher retention rate according to the SRHM. Some 78% of respondents to a survey conducted by market research firm The Better Buys said that they currently have access to professional development through their employer, while 92% believe access is important or very important.
- Over two thirds (67%) of learning and development (L&D) professionals who responded to a survey conducted for the The Virti 2023 State of Learning and Development report said that training has a positive impact on revenue. L&D is a function within an organization that is responsible for empowering employees’ growth and developing their knowledge, skills, and capabilities to drive better business performance. Respondents also said that courses which focused on soft skills such as leadership and communication (50%) are the most important. The Virti research found that the top reasons for conducting training were to ensure compliance (50%), improve employee technical skills (49%) and to support employee career development (39%).
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