From the course: Gaining Internal Buy-In for Elearning Training
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Answering the financial questions
From the course: Gaining Internal Buy-In for Elearning Training
Answering the financial questions
- Money isn't most people's favorite topic of conversation, but in business it matters. Your leaders don't expect you to be a financial expert, but they do expect you to be financially literate. This means they expect you to understand the numbers and recognize the financial impact on the business. Here are some tips to answer your leader's financial questions successfully. First, acknowledge you're competing for scarce resources. Training is one, among many, internal business activities competing for resources, especially money. If you want leaders to take you seriously, then you'll need to build a case demonstrating how your efforts will contribute to the business and showing how you'll use the money. For example, say there's a 10% increase in demand for your company's product. HR proposes hiring more staff, costing the company time, money, and possible turnover, but you believe developing a targeted training effort…
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