Training Budget Tracking - Overview
Lanteria HR now allows managers and supervisors to track costs spent on training and developing individual employees. This features allows for specific guidelines to be implemented and tracked, according to what training budget is assigned to the employee. When employees are assigned to training sessions or other types of learning activities, the cost of the opportunity will be subtracted directly from the individual’s budget. This allows both the manager and the employee a chance to review and track employee development with ease and transparency using the employee card.
Training Budget Tracking Process
Training budget tracking process includes the following steps:
Check Budget for Employee
To check the budgets balance of all several employees, use the Employee Training Budget Report
Training budget for the individual employee is available from the Learning tab of the employee card.
Use the View filter to display either currently active or all (active plus historical) budgets. The budget is considered as active if the current date is within the budget period.
The budget period depends on the budget allocation formula through which the budget was generated, and can be monthly, quarterly or yearly.
The budget amount for the period is also figured using the formula. The HR manager can also manually update the employee's budget amount for the current period (modify the amount and click Update).
Paid development activities that have been planned for the budget period are listed under the budget information. For each development activity, you can see the individual cost as well as the total cost of all activities for the current period (Total Spent) and the remaining budget amount (Balance).
The development activity will be listed in the Training Budget page and its cost will affect the balance if:
Cost and currency are specified for the learning material the development activity is based on
The training request for this activity has been approved and registered (for the request required activities)
The development activity start date is within the budget period