For many companies, this time of year is budget season. I know, you’re thinking…oh joy! Don’t remind me. But we bring this up for an important reason: the development of your employees. It’s pretty easy to view employee training as an expense to be managed; as just another line item or as an area to cut to balance your budget.
But do you know the result of this mindset? It can create a reactionary culture of supervisors that wait to act until something negative happens. Or it can result in employees learning to take action after something is a problem, instead of planning to eliminate it. It can create misalignment in your company’s goals, take away from employee engagement, and bring about a culture you’re not exactly happy about.
“Having a functional training budget is a critical component to your corporate strategy.”
A comprehensive training plan and training budget should be viewed as an investment…not just as an expense. Employee training doesn’t have to be cost prohibitive. And it can provide a measurable return on investment that not only justifies, but validates the expense.