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Advances in technology contribute to increased spending on corporate training

A similar trend is noted by independent retirement plan and college savings services provider, Ascensus

(May 18, 2015) — According to Bersin by Deloitte’s latest study in The Corporate Learning Factbook 2014: Benchmarks, Trends, and Analysis of the U.S. Training Market, spending on corporate training in the United States increased by 15 percent in 2014, and an explosive growth in technology contributed to this progression. Although employees still need formal classroom training, research found that less than half of employees’ total hours spent on training were completed in the classroom.

Ascensus has seen a similar trend among the education courses it offers for individual retirement arrangements (IRAs), health savings accounts (HSAs), and Coverdell education savings accounts (ESAs). Overall, attendee enrollment has increased from 2012 to 2014. The gap between formal classroom and online/distance learning attendance is noticeably less because of the rise in distance learning opportunities offered by Ascensus.

James Thompson, a product manager for Ascensus, explains, “With increasing travel expenses and the hectic, fast-paced business world, it’s challenging to find the time and budget for onsite training. That’s why Ascensus offers distance learning opportunities to help overcome these obstacles.”

A few notable Ascensus distance learning opportunities include

  • webinars that discuss various IRA, HSA, and ESA compliance issues (recorded CD copies also are available for purchase);
  • IRA University, a six-week course that includes instructor-led webinars and self-paced eLearning modules to build a solid IRA knowledge base; and
  • IRA Essentials OnDemand, a new, self-paced product that provides 30-day access to IRA reference materials, job aids, quizzes, and videos to create a fun, immersive educational experience.

“We understand that everyone learns differently,” says Thompson. “Distance learning offers an additional option for our clients, and our experienced training department is continually improving our educational products to address these various learning styles.”

About Ascensus

Ascensus is the largest independent retirement and college savings services provider in the United States, helping over 6 million Americans save for the future. With more than 30 years of experience, the firm partners with financial institutions to offer tailored solutions that meet the needs of financial professionals, employers, and individuals. Ascensus specializes in recordkeeping, administrative, and program management services, supporting over 40,000 retirement plans and 3 million 529 college savings accounts. It also administers more than 1.5 million IRAs and health savings accounts. For more information about Ascensus, visit www.ascensus.com

View company news and career opportunities on LinkedIn at linkedin.com/company/ascensus.

Find job openings on Twitter @AscensusCareers.

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