Balancing Tight L&D Budgets (Podcast)

Do you know what you get when youput a person from the C-suite, Ops, Sales and Marketing in a room with a topicto discuss?

A podcast! A kick-ass one at that!

That’s exactly what happened when Igot Amit Gautam,Amar Pawar and Suneil Kamathto 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 unlockour unique perspectives and found converging experiences, but we left the roomenriched and well-rounded on our knowledge of the topic. Not to mention thecrazy fun we had along the way!

L&D and Budgets

It’s the time of the year mostorganizations (following the April-March financial year) initiate planning fortheir 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 indigitizing the training function, skilling/reskilling the employees and getting the business up to speed to the requirementsof the dynamic world of work. Asper a 2018 Training Industry research, 48% had the same budget as theprevious year, 15% had a decrease in budget and only 37% reported an increasein their training budget. A tight budget not only puts pressure on the L&Ddepartment to squeeze every ounce of the available resources, but oftentimescompromises on the quality, mode and effectiveness of training too. Not tomention, the ever-pressing need to focus and prove the ROI, which may off-trackthe key objective training intervention. Hereare 5 Key Features to look for in an LMS toboost your ROI and 5 Tips To Maximize ROI Of Your LMS.

This is precisely what wediscussed in BalancingTight L&D Budgets in our debut episode of Let’s Talk Learn-Techpodcast.

Listen to the full episode tolearn:

• 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!