How to Stretch Your Training Budget
In today’s economic environment budgets are constantly being squeezed and there is a high degree of vigilance to prevent overspending. In most organizations, the days are past when you could cheerfully exceed your training budget by a 15 or 20%. Unfortunately, when economic conditions are constrained, training is one of the first things that gets cut.
The effect of these training cost cuts means that personal development is reduced to a minimum and the effect on the organization will not be felt for 12 to 24 months. It is a false economy because good people will leave if they feel that they cannot work to their potential through learning,training and development. The cost of filling these vacancies far exceeds the cost of training.
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