Management Bug: Lack of Training Budget

A MngtBug is a problem, cause or impact in a human manager’s decision which produces an incorrect or unexpected result.
Every week we share a little bit of our knowledge base on social media and our newsletter. Since we believe the Management Bugs are common and typical, every description is created and adapted from articles, blog posts and definitions from other sources and authors.

This week’s MngtBug is…

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Description

This week’s “Lack of Training Budget” is a known issue within Human Resources and Team Leaders.

By definition, a training budget is the direct and indirect costs required to analyze, design, develop, implement, evaluate and maintain courses and materials. Establishing a training budget for your organization ensures you allocate appropriate funds for employee development. Training ensures that your employees get the skills and knowledge they need to perform effectively on the job.
(Extracted and adapted from https://yourbusiness.azcentral.com/importance-training-budget-organizations-1364.html)

The right employee training can often mean the difference between sinking and soaring…