It’s budgeting season once again -- and there are some significant shifts happening in Learning & Development across industries that we should all be aware of when crafting our 2019 budgets.
L&D budgets and spending will increase in 2019
According to a Summer 2018 survey of 1500 Chief Learning Officer Business Intelligence Board members, an incredible 57% of respondents stated that they will increase their spending next year. This figure is up significantly from a 2017 survey.
And there is much agreement about where these additional funds will be spent. The highest spending priorities include:
The Takeaway: On-demand learning is no longer a budget afterthought - it is a key component of L&D budgets. As one recent whitepaper stated, "Online training is now a mainstay in virtually every training budget."
We'll look at some more L&D budgeting shifts over the coming weeks. In the meantime, if you need any help or insights as you weave on-demand learning and content libraries into your budget, let us know. We'd be happy to help
About the Tip of the Week!
One of the most frequent questions we get from our law firm clients is “What are other firms doing?” or “What kinds of projects are you working on for others that might spark some innovative ideas for us?”