How to track the Training Budget the Stress-FREE way
Like most Training Managers, you probably did it the wrong way.
Most LMS (Learning Management System) can’t do it right too. Even if the LMS has reports, the reports may not suit your needs, especially if the LMS is bought off the shelf.
You probably end up using Excel to manage your training budgets. But chance are, you did it the wrong way.
Why do I say that?
I have seen quite a few of the training budget templates and so far, few have done it right.
Here is generally what I have seen so far.
Your training budget is likely to be in Excel with the column on the left listing down the course name and the headers are likely to be the course dates, course fees. Your template is probably very wide and you have to constantly scroll from the left to right to find the information you need.
If you are experiencing this, you are like most training managers who spent 90% of your time manually tracking the courses and the remaining 10% preparing a report with no time to answer questions on the report.
If you want to take control, spend only 10% of your time tracking the course and have the other 90% use for higher-value activities, you need to use the solution below.
Create 2 Excel files. One for the budget and the other for the actual
Create the following headers for both worksheets.
- Course date,
- Internal Course ID,
- External course ID,
- Training Amount/ Course Fees,
- Course Name,
- Employee Name,
- Employee ID,
- Employee Designation.
Stack the 2 files together. And create your Pivot Table. And this is what you can get. Click to watch the video to find out.
If you are a training manager/executive and have to monitor the training budgets, sign up for our course on 7 & 8 Oct 2021. I will add this as a special module.