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Personal development training is one of those expenses where it can be difficult to measure in terms of impact and ROI as it’s a long term venture. Personal development training expenses can also eat up a large portion of your PD budget if you aren’t careful.
In this episode we look at personal development and professional development and how these business expenses should be considered within your training and development budget. Training and coaching employees is essential to long term success within your business. Leadership development training is essential for those in leadership positions as they need to continue to make great decisions for individuals and for the business as a whole.
Unfortunately these things do cost money (and sometimes a lot!) so as you are tracking expenses for small business and working out your budget for business expenses such as training, be mindful of the long term impact versus the short term impact of these investments. And, if you’re asking, how much should I spend on personal development and professional development for your staff then you’ve come to the right place.
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