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  • Writer's picturePeter Franklin

Training - Cost or Investment? Budget for Training

Man preparing a training budget on laptop














It's that time of year again. Planning the budgets for the coming year. Costs are always under scrutiny and the organisation needs to be as cost effective as possible.


However, whilst training itself is a cost - its impact on the organisation can be profound whether leading to increased revenues or significant cost reductions in mainstream business areas.


So what should you be doing to decide which training areas to invest in?


The answer is to focus on those with the highest return on investment (ROI).


This is because it will:


  • enable your people to maximise sales revenues

  • give your organisation the skills it needs to manage more effectively

  • build the personal skills and capabilities of your team

So list out your options and rank them by ROI.



(if you would like to see the Pyramid Thinking template used to create this post you can download the PowerPoint file below.)


Training - cost or investment 30 Jan 2024
.pptx
Download PPTX • 48KB

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