Article: Why do management boards take a low interest in L&D budgets?

C-Suite

Why do management boards take a low interest in L&D budgets?

L&D has been suffering from the insufficient schemes resulting in absence of essential and appropriate statistics on the right kind of area to invest in.
 Why do management boards take a low interest in L&D budgets?

Scouting for accurate employee training needs has definitely been a difficult task for Sarika Ghosh, the L&D head of the company while she toiled hard with the team members to form a forceful training strategy throughout the year. The reason being the trivial input on people’s individual growth and progress plans by the management board. The employee assessments were so extensive and were defined poorly, forcing the team members to switch on their thinking caps to draw out a possible solution to it. 

Following this tedious and long exercise, the next agenda was to get the data aligned to the administrative direction and objectives. The hard work and efforts shown by the L&D team made it hopeful for the employees and managers to believe that this year’s training is sure to be significant to define their work roles supporting them to flourish and enhance their development skills in life. With all these sincere efforts, Sarika decides on her training & growth plans and submits it to the board. The team is all set to hear a good news for their annual sanction, but to their dismay, the prudently and meticulously created plan receives a 35 percent cut!

This is the common quandary of many L&D Managers, with the key reason being the disbelief shown by the management and employees that the programs on training and the HR initiatives can lend them, financial supports along with offering a concrete and relevant learning for their roles.

Guidance and organization get low standards of reports that do not facilitate them to capitalize sufficiently on the advance and progress of people. It has been researched that when the top 20 CEO’s in the world were questioned about their opinions on soft skill & interactive training, about 86 percent of them stated that ‘They Predicted No Modification!’ and they alleged that if the organization did not involve on such type of training, the outcomes would not certainly suffer! The vital reason of this problem is based on the fact that ‘THERE IS INSUFFICIENT DATA’ and the essential pertinent information is vital to generate value adding L&D involvements.

L&D has been suffering from the insufficient schemes resulting in absence of essential and appropriate statistics on the right kind of area to invest in. The determinations of the L&D team is cumbersome and a problematic journey, as without an accurate data the content, facilitation and learning all have a direct effect on excellence and impact. 

While this has been a common situation in most organizations, the ultimate root cause that demands attention is that HR and L&D requirements should ensure that the procedure of classifying needs of training is reinforced by a ‘Real-Time System’. L&D should safeguard that employee and manager are able to participate with a digital podium offering them guidance and provision to appreciate and plan their wants, with efforts on the purpose of the growth they anticipate. 

If the practice is real time and obtainable at their fingertips, then they will contribute and involve themselves expressing their needs in time. With countless data, the L&D team can offer the management complete reports on the type of training that demands attention, why they are essential and ways by which the same can be planned and leveraged on. The report should feature fine facts that inspire a management to make the investment and gain on the gravest capital that is Human Capital! 

A deep-rooted fact is that ‘Your People Are The Only Differentiator You Have’. Creating a wise investment on developing them is the most appreciated factor that can drive the results of the business. 

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Topics: C-Suite, Learning & Development, Strategic HR

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