Almost half of employers are considering or would consider signing up to the Employer Skills Pledge or Train to Gain initiative, according to the Chartered Institute of Personnel and Development (CIPD).

The statistics come in the week that Lord Leitch gave evidence to a Department for Innovation, Universities and Skills select committee on the CIPD report reflecting that more than half of companies’ organisation and development work has not been affected by his skills agenda.

Sarah Van Der Heyden, policy adviser at the CIPD, said: "The large proportion of employers considering signing up to government skills initiatives demonstrates that there is much to play for."

Around eight in ten organisations have training budgets, with an average of £300 allocated to this budget per employee.

Despite this, so far just 13 per cent of firms have signed up to the Employer Skills Pledge since its inception.

The CIPD was created in 2000, when the Institute of Personnel and Development was granted chartered status.