Importance Of A Training Budget

1461 Words6 Pages
Training Budget A training budget is essential to an organization, without a training budget, your organization can suffer a decline in sales, overspending and a decline in employee disposition. Figuring out how to come up with a budget and where to allocate the budget is how to start fixing the problem. Training should always be looked upon as an investment towards the organization and not an unnecessary expense. Employers seem to cut the training budget with business downturns, economic recessions and because they feel some training is unnecessary or because they simply can’t afford it. Organizational training needs are always going to be present, whether it’s for a new hire, a promotion, or to enhance the skills of an existing employee in their current position. Understanding and identifying what a training budget is and what it is used for is a good place to start. When starting a training budget you should understand what training can bring to your organization. With proper training, your organization would have less turnover, increase in productivity, improved customer care, increase sales, empower your employees and have a decrease in absenteeism. The first step is to have a thorough understanding of what a training budget is. “A budget is an estimate, often itemized, of expected income and expense for a given period in the future (“,” 2011).” By budgeting for training you should be able to know which employees need training, what kind of training you will need, and how much of the budget will be allocated towards the training. “It is the job of the human relations department to keep agencies staffed with the skills, inclination, temperament, and willingness to provide high quality service (Abbasi & Hollman,... ... middle of paper ... ...usiness downturns, economic recessions and because they feel some training is unnecessary or because they simply can’t afford it. . . Comparison Patrick’s Owens article had better quality because. . . . Recommendations for further research Further future research on measuring training gap improvements can be made. For example finding low budget training solutions .With the research conducted on different cost affective training this can reinforce the gap that is made when the training budget is cut. Conclusion In conclusion, an organization needs to know how performance is measured. They need to be cognizant of the gaps in training needs and it is vital for an organization to realize cutting the training budget is going to cost them more in the long run. Proper budget allocations can and will give your organization the competitive edge it needs to maintain strong
Open Document