Do you know what you get when you
put a person from the C-suite, Ops, Sales and Marketing in a room with a topic
A podcast! A kick-ass one at that!
That’s exactly what happened when I
got Amit Gautam,
Amar Pawar and Suneil Kamath
to distil their experience and expertise on Learning and Development
(L&D) Budgets for UpsideLMS’
debut episode of ‘Let’s Talk Learn-Tech’ podcast. Not only did we unlock
our unique perspectives and found converging experiences, but we left the room
enriched and well-rounded on our knowledge of the topic. Not to mention the
crazy fun we had along the way!
L&D and Budgets
It’s the time of the year most
organizations (following the April-March financial year) initiate planning for
their next fiscal year (FY).
And L&D is no different. Here’s all the dope you need on the fundamentals of the L&D budget.
However, for most businesses,
L&D budgets do little to justify the quantum of efforts needed in
digitizing the training function, skilling/
reskilling the employees and getting the business up to speed to the requirements
of the dynamic world of work. As
per a 2018 Training Industry research, 48% had the same budget as the
previous year, 15% had a decrease in budget and only 37% reported an increase
in their training budget. A tight budget not only puts pressure on the L&D
department to squeeze every ounce of the available resources, but oftentimes
compromises on the quality, mode and effectiveness of training too. Not to
mention, the ever-pressing need to focus and prove the ROI, which may off-track
the key objective training intervention. Here
are 5 Key Features to look for in an LMS to
boost your ROI and 5 Tips To Maximize ROI Of Your LMS.
This is precisely what we
discussed in Balancing
Tight L&D Budgets in our debut episode of Let’s Talk Learn-Tech
Listen to the full episode to
- If and how the L&D budget impacts the Learning department’s decision-making process
- If there is causation or a correlation between the budget and the success of the training program
- If budget-allocation differs across industries or geographies? Or is it hinged on the L&D maturity of the company alone
- How L&D practitioners can balance the tight L&D budget to achieve their objectives and goals
‘Let’s Talk Learn-Tech’ is available on https://www.upsidelms.com/podcast and can be accessed on mobile phone via Podbean’s iOS and Android App. Follow ‘Let’s Talk Learn-Tech’ on https://upsidelms.podbean.com/ to ensure you get the latest podcast – on the day of the release!