Listen to two executives’ perspectives on talent development budgets.
Budgets. Although it may not be a favorite subject matter, it is important. So, where do organizations’ talent development budgets stand? How has the pandemic affected funds for employee training? Has spending stayed the same, compared to pre-pandemic goals, or are organizations investing in new technology and innovative programs? In what ways are employers investing in upskilling and reskilling?
CTDO recently asked two talent development executives those questions to glean insights about how companies currently are budgeting for talent development.
Michelle Braden is chief learning officer and vice president of global talent development at WEX.
Braden is passionate about employee L&D and about using her business savvy and leadership expertise to look beyond typical adult learning strategies and toward innovative TD approaches that drive true business impact. She explains that work-from-home policies during the height of the pandemic enabled WEX to accelerate implementing its global virtual learning strategy, giving her team more justification to invest in innovative programs and tech that drive interaction and activation of learning.
Essentially, her L&D team is investing about 60 percent of its budget in licensing for learning experience platforms, learning content libraries, and other learning technology, she says.
Angela L.M. Stopper
Angela L.M. Stopper is chief learning officer and director of people and organization development at the University of California, Berkeley.
Stopper is responsible for the team that creates and delivers learning to support UC Berkeley’s 9,000 staff and faculty administrators. She says that the programing budget has remained steady—it’s not growing, but it’s also not seeing significant cuts. To continue to support staff growth, she shares that her team offers all programs in numerous ways, enabling the team to meet staff where they are, right when they need learning. Her team has refocused some efforts and gotten creative, such as investing in microlearning, social learning, and peer coaching, to name a few.
Read more from CTDO magazine: Essential talent development content for C-suite leaders.