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How to use the rest of the company budget wisely?

1 December 2023

The end of 2023 is fast approaching. December is not only a time of numerous Christmas parties, but also the end of the financial year, which is a challenging time for many companies, as employers are faced with an important question: how to effectively use the remaining funds from this year's company budget?

Time is running short for an answer, so we give you some ideas:

investments in technology and IT infrastructure, such as buying modern tools, software or upgrading hardware to speed up business processes,
investing in marketing and PR activities, advertising campaigns or website improvements to strengthen your brand's presence on the market,
investments in research and development of the company, which can contribute to increase the quality of provided services or creation of new products,
investment in the most valuable resource that organisations have, which is employee development.

Qualified employees are a key corporate asset

According to numerous publications and reports, employees - worldwide - view the development and training programmes they have access to as a key part of their career path. They willingly and consciously apply newly acquired skills and knowledge to their current positions, resulting in increased company efficiency and productivity and a competitive advantage in the marketplace.

One of the most effective ways to keep employees engaged and motivated is to provide clearly defined career paths. (...) It is also necessary to identify how employees' ambitions can be met through support for reskilling and upskilling, we can read in the 'workmonitor 2023' report by Randstad..

Where do we start when we have so little time to optimally invest the remaining funds?

Employee education planning should be based on three important pillars: the development needs of the employees, the business objectives of the company and the knowledge of external experts experienced in supporting Learning & Development processes - suggests Kamila Izdebska, Head of BPP Professional Education in Poland.

Given that our employees have a lot of tasks and don't always have the space to learn, let's choose a modern learning path for them. Online training is a flexible solution, allowing employees to access educational content at a time and place that is convenient for them.

This year, the topics of modern technology and managerial competence are particularly popular – says Kamila Izdebska- our particular strength is supporting clients throughout the entire training process, whether it is upskilling or reskilling.

If you want to make the most of your company's budget by the end of the year and have decided to increase or extend the qualifications of your employees, contact us.

You can also benefit from the upcoming open training courses offered by BPP:

Introduction to Finance & Control: 6-7 & 12-13 December 2023,
First Time Manager: January 2024.

Remember that properly invested funds can provide a solid foundation for the success of the company in the coming year.

Article also published on focusonbusiness.eu/en/.