Final answer:
Canadian organizations spend an average of $800 per employee per year on learning and development.
Step-by-step explanation:
The question asks about the average amount of money Canadian organizations spend on learning and development each year. According to the Conference Board of Canada 2016 study, Canadian organizations spend an average of $800 per employee per year on learning and development. A student asked which country, Canada or the United Kingdom, will have a higher worker productivity level after five years, given that the productivity in Canada is growing at 1% per year and in the UK at 3% per year, starting from $30 and $25 per hour respectively. After one year, Canada's productivity will be $30 × 1.01 = $30.30, and the UK's will be $25 × 1.03 = $25.75. This growth continues compounding annually. After five years, Canada's productivity will grow to approximately $30 × (1.01)^5 = $30 × 1.05101 ≈ $31.53, and the UK's productivity will grow to about $25 × (1.03)^5 = $25 × 1.15927 ≈ $28.98. Hence, even after five years, Canadian workers will still have higher productivity than UK workers, but the difference will be reduced to approximately $31.53 - $28.98 = $2.55.