Understanding the contribution of VET to individuals’ career, employability and social inclusion as well as its impact on economic growth and productivity is important for assessing investment in VET compared to other types of education or learning. Demonstrating economic and social returns to training may also inform and guide enterprise and individual investment in training.
Cedefop is currently investigating the economic and social benefits of VET, not only by synthesising critically available research on the benefits of education and VET but also by financing new research to break new ground on the economic and social benefits of VET specifically.
Cedefop is investigating the benefits of VET at micro (individual, enterprise), meso (sectors, social groups and communities) and macro (economy and society, country and European Union) levels. Benefits include monetary returns as well as other economic (such as employment, productivity, growth) and social benefits (such as health, social cohesion, trust). Cedefop will consider both direct and indirect benefits, such as externalities and spillovers. In analysing the benefits of VET Cedefop’s ambition is also to differentiate as far as possible between the effects of different programme orientation (vocational/general) and of different types of learning (initial/continuing) and to disentangle the determinants of returns.
Specific empirical studies on the various types of benefits will be published online.
Contact Details: Giovanni Russo