Responsible for an L&D budget? Here are 4 things you need to consider

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elearningworkWhether securing a budget is a feat in and of itself, or your organisation is happy to splash the cash, once you’ve got your L&D budget you’ll need to start spending it. With so many options out there, how can you be sure you’re betting on the right horse? Here are our top tips to clever budget spending:

Plan for now, and for the future

If your idea is to roll out training to a small number of employees first, and then expand the training if successful, make sure you consider the costs involved. If your deal for 100 users seems too good to be true, it just might be – how much will the price increase for 1,000 users? Conversely, some price plans seem expensive at the lower end, yet the more users that are added, the better the deal becomes. So plan for the future: if you know you’ll need a 2,500 user plan within one year, research those numbers now – not just the initial 100!

Weigh up basic vs comprehensive packages

Think carefully about what your online learning needs really are. Do you need an all-singing, all-dancing Learning Management System? Or do you need a more basic learning platform with has fewer features, but which will take up less of the budget?

scalesmoney‘As standard’ or ‘Optional extra’?

It’s also important to consider which features will come as standard and which will be an optional extra. This will vary from vendor to vendor, so make sure you compare them carefully. What might seem like a cheap deal can quickly become more expensive when certain features are selected, which might be included in the costs of another option.

Bells and whistles

If you want to make the most of your L&D budget, you need an online training solution which will engage your learners; something that will encourage them to log on and take the training under their own steam, without having to cattle prod them into compliance! Well, not all online learning solutions can achieve this. Most Learning Management Systems are just that – systems for managing learning. There’s nothing in there about securing learner engagement, making learning fun or, you know, actually being an effective way of training learners online.

Ultimately you’ll need more than ‘just’ a Learning Management System to get learners truly engaged. Finding an LMS that is dedicated to supercharging learner engagement is tricky, but luckily for you, you’ve stumbled upon the site of the world’s #1 gamified Learning Management System, renowned for boosting engagement and making the learning process enjoyable. Find out more about the Academy LMS by requesting a demo webinar tour!

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During the current coronavirus pandemic, we are committed to doing everything we can to support you and your learners. One of the ways we’re doing this is by giving away relevant microunits for free. At a time when your resources are stretched, we hope this helps you and your organisation to thrive.