Process for Allocating Budget to External Training & Conferences
I recently joined an organization who has set aside a figure annually for activities like external courses and/or conferences but they haven't determined how to best allocate those funds. Currently, it is more of a "who thinks to ask" or first come first serve. Do any of you have good models/processes for how to appropriately allocate these types of funds (e.g. % per department, $ per head etc). Also, any best practices for how you budget these types of activities annually, we are certain we agree with the amount they have set aside? I am used to partnering with an internal L&D org so this is fun new territory for me. Thanks!
Kellie Mondell Hi Kellie - Happy to help. We leverage a recommendation of $1500 per individual contributor and $3000 per manager. The way our organization manages this budget is flexible, meaning that if they plan for a manager to enroll in a more expensive course in 2020 then that manager may not use the full $3000 in 2019. We have a full budget document that does out from finance with all HR cost recommendation, from relocation estimates, recruiting estimates, etc. If you need more information, happy to chat further.