Name :- Sejal Sonawane

Subject :- Learning And Development

Topic :- Budgeting of training
 Budgeting of training

Budgeting for training is the process of allocating funds

to support the development of employees' skills and
knowledge in a way that is aligned with the
organization's strategic objectives. Here are some key
steps involved in budgeting for training:
1) Identify training options: Once you've
identified your training needs, research different
training options that could address them. This
could include online courses, in-person training
sessions, conferences, or workshops.
2) Determine your training needs: Start by assessing the
skills and knowledge gaps within your organization. This
could involve conducting surveys, analyzing performance
data, or consulting with managers and employees.
3) Determine costs: Once you've identified your
training options, determine the costs associated with
each one. This could include tuition fees, travel
expenses, and the cost of materials or equipment .
4) Prioritize training: With a clear understanding of
the costs associated with each training option,
prioritize your training needs based on your
available budget. Identify which training programs
are essential and which ones can be delayed or
deferred.
5) Allocate resources: Once you've identified your
training priorities, allocate your resources accordingly.
This may involve reallocating funds from other areas
of your budget or seeking additional funding sources.

6) Track and evaluate results: Finally, track and

evaluate the results of your training efforts. This
could involve assessing the impact on employee
performance, productivity, and morale, as well as
measuring the return on investment for your training
budget. Use this information to refine your training
By budgeting for training, organizations can
ensure that their employees have the skills and
knowledge necessary to perform their jobs
effectively. It also allows organizations to plan for
the future and make strategic decisions about
which training initiatives to invest in.