Vocational training costs and economic benefits: exploring the interactions

The aim of the article is to study the relationship between vocational training costs and economic benefits at different levels of economic relations. In the structure of labour costs in the EU, there was the highest share of vocational training costs in Ireland (2.79%), Great Britain (2.53%), Franc...

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Autores principales:	Natalia Samoliuk, Yuriy Bilan, Halyna Mishchuk
Formato:	article
Lenguaje:	EN
Publicado:	Vilnius Gediminas Technical University 2021
Materias:	economic benefits correlation labour costs gdp vocational training costs Business HF5001-6182
Acceso en línea:	https://doaj.org/article/2ae9c242f08c4e4e91caea213d790ee3
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id	oai:doaj.org-article:2ae9c242f08c4e4e91caea213d790ee3
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spelling	oai:doaj.org-article:2ae9c242f08c4e4e91caea213d790ee32021-11-23T14:08:01ZVocational training costs and economic benefits: exploring the interactions1611-16992029-443310.3846/jbem.2021.15571https://doaj.org/article/2ae9c242f08c4e4e91caea213d790ee32021-10-01T00:00:00Zhttps://journals.vgtu.lt/index.php/JBEM/article/view/15571https://doaj.org/toc/1611-1699https://doaj.org/toc/2029-4433The aim of the article is to study the relationship between vocational training costs and economic benefits at different levels of economic relations. In the structure of labour costs in the EU, there was the highest share of vocational training costs in Ireland (2.79%), Great Britain (2.53%), France (1.51%), which is reflected in the economic success of these countries. A comparison with Ukraine, which has European integration intentions, confirms that the underestimated role of investing in lifelong learning has relevant links to economic performance. This study at the enterprise level (based on the survey of 356 employees) found that higher costs of vocational training are a sign of profitable enterprises. At the same time, employees’ interest in short-term training programs is higher, which they obviously assess from the standpoint of higher personal economic benefits in the short term. At the same time, the analysis performed by means of the Fechner correlation coefficient confirms the existence of a positive impact of vocational training costs on changes in the main macroeconomic benefits indicator – GDP per capita. This allows drawing conclusions about the need to develop professional training programs for staff as one of the drivers of macroeconomic development.Natalia SamoliukYuriy BilanHalyna MishchukVilnius Gediminas Technical Universityarticleeconomic benefitscorrelationlabour costsgdpvocational training costsBusinessHF5001-6182ENJournal of Business Economics and Management, Vol 22, Iss 6, Pp 1476-1491 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	economic benefits correlation labour costs gdp vocational training costs Business HF5001-6182
spellingShingle	economic benefits correlation labour costs gdp vocational training costs Business HF5001-6182 Natalia Samoliuk Yuriy Bilan Halyna Mishchuk Vocational training costs and economic benefits: exploring the interactions
description	The aim of the article is to study the relationship between vocational training costs and economic benefits at different levels of economic relations. In the structure of labour costs in the EU, there was the highest share of vocational training costs in Ireland (2.79%), Great Britain (2.53%), France (1.51%), which is reflected in the economic success of these countries. A comparison with Ukraine, which has European integration intentions, confirms that the underestimated role of investing in lifelong learning has relevant links to economic performance. This study at the enterprise level (based on the survey of 356 employees) found that higher costs of vocational training are a sign of profitable enterprises. At the same time, employees’ interest in short-term training programs is higher, which they obviously assess from the standpoint of higher personal economic benefits in the short term. At the same time, the analysis performed by means of the Fechner correlation coefficient confirms the existence of a positive impact of vocational training costs on changes in the main macroeconomic benefits indicator – GDP per capita. This allows drawing conclusions about the need to develop professional training programs for staff as one of the drivers of macroeconomic development.
format	article
author	Natalia Samoliuk Yuriy Bilan Halyna Mishchuk
author_facet	Natalia Samoliuk Yuriy Bilan Halyna Mishchuk
author_sort	Natalia Samoliuk
title	Vocational training costs and economic benefits: exploring the interactions
title_short	Vocational training costs and economic benefits: exploring the interactions
title_full	Vocational training costs and economic benefits: exploring the interactions
title_fullStr	Vocational training costs and economic benefits: exploring the interactions
title_full_unstemmed	Vocational training costs and economic benefits: exploring the interactions
title_sort	vocational training costs and economic benefits: exploring the interactions
publisher	Vilnius Gediminas Technical University
publishDate	2021
url	https://doaj.org/article/2ae9c242f08c4e4e91caea213d790ee3
work_keys_str_mv	AT nataliasamoliuk vocationaltrainingcostsandeconomicbenefitsexploringtheinteractions AT yuriybilan vocationaltrainingcostsandeconomicbenefitsexploringtheinteractions AT halynamishchuk vocationaltrainingcostsandeconomicbenefitsexploringtheinteractions
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Vocational training costs and economic benefits: exploring the interactions

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