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Making your L&D budget recession-proof: 7 strategies to take now

CLO Magazine

Executives react as if a recession is imminent by cutting budgets, delaying projects, deferring expenses and reducing staff. This environment leads to scrutiny of all budgets, including the learning and development budget. ” However, when it comes time to reduce budgets, learning is often the first budget to go.

Budget 97
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How to get your L&D budget approved

CLO Magazine

Some will have little resistance to getting a budget approved, while others may face serious difficulties. This article will explore key areas to consider when seeking approval of the L&D budget. We have heard many chief learning officers discuss the budget process even during the current situation. Reality check.

Budget 109
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Showing the ROI of key programs on a budget

CLO Magazine

Budgets have been cut or are under scrutiny. The talent development team is challenged with showing the value of key programs, particularly the important, expensive programs involving a lot of people. Here are 7 ways to minimize resources and still show the value of a major program at the impact and ROI levels.

ROI 106
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Cloudy with a chance of budget approval

CLO Magazine

When there is uncertainty, anxiety or volatility in the global economy, there is a tendency to prepare for the unknown by having a tighter ship and leaner budget. This translates into significant budget controls and, consequently, budgets will be scrutinized and challenged. This forecast can be.

Budget 113
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Future-proofing learning: Prioritizing L&D in budgets

CLO Magazine

Over the last few years, L&D budgets have increased. And, according to BetterWork Media Group’s 2022 State of L&D Analysis report, nearly two-thirds of the 558 participants believe their budgets will increase over the next 12 to 18 months. Why did budgets increase?

Budget 47
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Meet the CLO Advisory Board: David Vance

CLO Magazine

In 2006, he was awarded CLO of the Year. CLO: What was your official first job in learning and development? CLO: What lessons did you learn in 2020 that you plan on taking with you into 2021? Vance was awarded CLO of the Year in 2006. CLO: How do you enjoy spending your time outside of work? I came in sideways.

CLO 79
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How to protect your learning budget amid current uncertainty

CLO Magazine

Yet, given the growing uncertainty about the economic climate and possible recession, many organizations are reassessing their budgets across the board. History has often seen learning and development as one of the first budgets targeted. This makes stronger the case for maintaining (or even growing) your learning budget.

Budget 97