Investing in training: Where do companies spend their L&D budget?

You put a lot of work into preparing your L&D budget. From tracking KPIs to following trends to forecasting business needs, it’s an active process that requires data and insight. But budgeting isn’t just a one-off event you do to kick off your year.

Priorities change and trends evolve, and you need the flexibility to keep up. Budgeting wisely means re-evaluating regularly to ensure you’re making the best use of your resources. And mid-year is a good time to revisit your spending and decide whether to make adjustments as you prepare for future investments.

It’s a heavy task, but you don’t have to prepare a new L&D budget from scratch. You just need to know where to focus and how to look for areas for improvement. In this article, we’ll talk about how the pandemic affected training budgets and priorities. We’ll also discuss how you can help senior leadership understand the importance of investing in employee development. Finally, we’ll cover current L&D trends and how you should prioritize spending for 2022.