PurposeThis paper sets out to examine the contribution of employer co‐funding of publicly‐funded vocational education and training in the UK (i.e. training initiatives that are available to all qualified applicants but funded jointly by the public and private sectors).Design/methodology/approachThe paper draws on qualitative research undertaken with more than 30 employers in a cross‐section of economic sectors.FindingsThe evidence from this study suggests that there is no model for how and why employers start to become engaged in co‐funding publicly‐funded training.Originality/valueThe paper identifies key issues for public policy‐makers.