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Step-by-step guide to developing a People team budget (that gets approved)

Follow these steps to build a budget that supports your People initiatives and enhances overall company performance.

A diverse team of 4 people are reviewing their People team budgetA diverse team of 4 people are reviewing their People team budget

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Insights from Ellen Raim, Founder of People MatterWe focus more on solving than preventing People problems.

Creating a People team budget that meets your organization's needs and gains approval from the CEO and CFO can be daunting. This comprehensive guide will walk you through each step of the budgeting process, helping you develop a well-justified, strategic budget that aligns with business goals and secures the necessary support from leadership.

Follow these steps to build a budget that supports your People initiatives and enhances overall company performance.

Step 1: Understand business goals + priorities

Business goals and priorities should set the foundation for your entire People team budget. This first step ensures that your People initiatives align with the company's strategic objectives and financial constraints. 

A. Meet with leadership

Meet with your company's leadership to understand the company’s strategic objectives, growth plans and financial constraints. This knowledge will help you align your budget with broader business goals.

B. Identify key People and team goals

Align your People initiatives with the business objectives. Strategic initiatives could include improving retention, enhancing employee engagement or supporting expansion. Precise alignment to business objectives helps justify your budget requests and shows how the People team contributes to the organization's overall success.

Step 2: Gather data + insights

Data and insights are essential for creating a realistic and practical People team budget. This step involves reviewing historical spending to identify trends and areas for adjustment, ensuring you build on past experiences. Consider industry standards to benchmark your budget, but customize these insights to fit your organization’s needs.

A. Historical spending

Review past budgets and actual expenditures to identify trends and areas for adjustment. Understanding previous spending patterns can highlight where changes are needed and help predict future costs more accurately.

B. Industry standards

Consider industry norms and standards, but tailor them to your company’s needs. Benchmarking against industry standards provides a framework, but it's important to customize these insights to fit your organization.

C. Employee feedback

Gather employee feedback to identify areas needing investment, such as professional development or wellness programs. Direct input from employees can highlight gaps and opportunities that may take time to be noticeable.

Step 3: Categorize + justify each budget line item

Categorizing and justifying each line item is critical in developing a comprehensive and defensible People team budget. Break down the budget into categories. For each category, provide a clear rationale that aligns with business goals and demonstrates the value of the investment. Use data and benchmarks to support your justifications, showing how each expense contributes to the business objectives. A well-documented rationale for each line item helps build a compelling case for your budget, making it more likely to gain approval from leadership.

Here are example line items for your budget, along with instructions on how to create and justify each one effectively:

A. Salary

Competitive salaries are essential for attracting and retaining top talent, reducing turnover costs and ensuring you have the necessary resources to meet business demands.

  • Determine headcount needs: Project the number of employees based on growth plans and departmental needs. Collaborate with other departments to understand their staffing requirements and anticipate future growth or potential downsizing. Accurate headcount projections help ensure your organization has the right resources to meet business demands and support strategic goals.
  • Salary benchmarks: Use internal and external benchmarks to set competitive salaries. Internally, review current salary structures and compare them across similar roles and departments within your organization. Externally, conduct market research to understand industry standards and competitor offerings. Utilize salary surveys, industry reports and tools like compensation software to gather comprehensive data. 
  • Salary structure: Develop a clear and transparent salary structure that outlines pay ranges for different organizational roles and levels. Your salary structure should be based on experience, education, job responsibilities and performance. A well-defined salary structure promotes fairness and consistency, helping to maintain employee satisfaction and motivation.
  • Performance-based incentives: Include performance-based incentives and bonuses in your salary budget. These incentives reward high-performing employees and align their goals with the organization's objectives. Performance-based pay can drive productivity and engagement, contributing to the company's overall success.
  • Budget for salary adjustments: Allocate funds for regular salary reviews and adjustments to account for inflation, market changes and individual performance. Regular salary reviews ensure that your compensation packages remain competitive and fair, helping to retain valuable employees.
  • Historical costs vs. plans: Review salary expenditures to inform future budget allocations. Consider past trends in salary adjustments, turnover rates and hiring costs. Use this data to project future salary needs and ensure your budget accommodates anticipated changes.
  • Approval strategy for salary budget: To get approval for the salary line item, present a clear rationale that aligns with business goals.
    • Highlight how competitive salaries attract and retain top talent, reducing turnover costs.
    • Use data and benchmarks to support your requests, showing how your salary strategy compares to industry standards.
    • Provide examples of how performance-based incentives and regular salary adjustments drive productivity and employee satisfaction.
    • Emphasize the strategic importance of having the right resources to meet business demands and support growth plans.

B. Benefits

Comprehensive benefits packages are essential for attracting and retaining top talent, improving overall employee wellbeing and maintaining a competitive edge in the job market.

  • Comprehensive coverage: Include costs for health, dental, vision and other essential benefits. A robust benefits package ensures employees access to necessary healthcare services, promoting their physical and mental wellbeing.
  • Wellness programs: Budget for wellness initiatives such as training, gym memberships, mental health resources, nutrition counseling and stress management programs. These programs contribute to a healthier, more engaged workforce.
  • Retirement plans: Allocate funds for retirement benefits like 401(k) matching or pension plans. Offering competitive retirement options helps secure employees' financial futures and increases job satisfaction.
  • Paid time off (PTO): Consider the costs of PTO, including vacation days, sick leave and parental leave. Generous PTO policies can boost employee morale and productivity.
  • Additional perks: Include costs such as learning stipends, commuter benefits, childcare support and flexible working arrangements. These perks can enhance work/life balance and employee satisfaction.
  • Employee assistance programs (EAPs): Budget for EAPs that provide confidential counseling and support services for employees facing personal or work-related challenges. EAPs can improve employee resilience and productivity.
  • Historical costs vs. plans: Review historical benefits spending to inform future budget allocations. Consider changes in employee demographics or benefits utilization that may impact future costs.
  • Benchmarking: Compare your benefits offerings against industry standards to ensure they are competitive and aligned with market expectations. This can help attract and retain top talent.
  • Approval strategy: Emphasize the strategic importance of comprehensive benefits in attracting and retaining top talent.
    • Use data and metrics to support your request, showing how competitive benefits packages improve employee wellbeing, satisfaction and productivity.
    • Highlight industry benchmarks to demonstrate that your benefits offerings align with market standards.
    • Provide examples of how enhanced benefits have positively impacted employee retention and engagement in the past.
    • Emphasize the ROI by explaining how a robust benefits package can reduce turnover costs, increase employee loyalty and contribute to the organization's overall success and stability.

C. Professional development + conferences

Investing in professional development is essential for boosting team performance, satisfaction and organizational success. 

  • Training programs: Identify essential skills and training programs needed for team growth. This includes ongoing training opportunities (like Electives Membership), job-specific certifications and deep-dive programs like manager training
  • People team + company-wide training: Ensure the People budget includes training initiatives for the People team and the entire company to enhance overall employee development. Company-wide programs can address skills gaps, foster a culture of continuous learning and improve overall performance.
  • Conferences for professional growth: Identify relevant conferences that align with team and organizational goals. Conferences offer valuable opportunities for professional development, keeping the team updated with industry trends, best practices and new technologies. Conferences also provide significant networking opportunities, fostering connections that benefit the organization.
  • Benchmarking: Compare your professional development and conference budgets against industry standards to ensure your spending is competitive and provides the best value. Use benchmarking data to optimize your budget and demonstrate its effectiveness.
  • Approval strategy: Present a clear rationale highlighting the positive impact of training.
    • Emphasize the role of continuous learning and industry engagement in maintaining competitiveness, fostering innovation and achieving business objectives.
    • Show how the budget aligns with the organization's goals and provides a positive return on investment.

D. Events

Events help foster team cohesion, align employees around strategic goals and maintain motivation throughout the year.

  • Small events: Plan small team-building events and activities promoting a positive work culture. These events, such as team lunches, workshops or local outings, help strengthen interpersonal relationships and enhance collaboration.
  • Annual offsite: Include costs for venue, travel and activities for annual offsite meetings. These more significant gatherings align the team around strategic goals, brainstorming new ideas and fostering deeper connections among team members.
  • Quarterly offsites: Budget for quarterly team offsites to review progress and recalibrate. These regular check-ins keep the team aligned, motivated and responsive to any changes or challenges throughout the year.
  • Board meetings: Include costs for meeting logistics, such as travel, accommodation, venue rentals and hospitality. Budget for preparing and distributing board materials – including printing, binding and digital distribution – and allocate funds for virtual meeting platforms to facilitate remote participation.
  • Hybrid + remote considerations: Allocate funds for virtual or hybrid events to ensure inclusivity for remote team members. This might include virtual team-building activities or hybrid setups for offsite meetings.
  • Historical costs vs. plans: Compare past event and board meeting expenses with plans to ensure your budget reflects any scope, frequency or format changes.
  • Approval strategy: Present a detailed and justified proposal highlighting each event's strategic importance.
    • Emphasize how events contribute to team cohesion, employee engagement, professional development and strategic alignment.
    • Show how the budget aligns with the organization’s goals and provides a positive return on investment.

E. Internal communications

Effective internal communications support a transparent, collaborative and engaged workplace. Investing in the right tools and strategies ensures that employees are well-informed, aligned with organizational goals and connected regardless of their location.

  • Communication platforms: Budget for internal communication tools such as intranets, messaging platforms (e.g., Slack or Microsoft Teams) and video conferencing solutions. These tools facilitate real-time communication, collaboration and information sharing across the organization.
  • Employee newsletters: Allocate funds for creating and distributing regular employee newsletters. Newsletters can include company updates, employee achievements, upcoming events and other relevant information to keep everyone informed and engaged.
  • Feedback mechanisms: Invest in tools and platforms, such as surveys and suggestion boxes, that allow for regular employee feedback. These mechanisms help ensure that employees' voices are heard and can help identify areas for improvement.
  • Town hall meetings: Budget for regular town hall meetings, including costs for AV equipment, venue (if in-person) and virtual meeting platforms. Town halls provide a forum for leadership to share important updates, celebrate successes and address employee questions and concerns.
  • Digital signage: Consider implementing digital signage in common areas to display important messages, announcements and company news. Signage can be an effective way to ensure that all employees, including those who may not regularly check emails or attend meetings, stay informed.
  • Training + development: Allocate funds for training sessions on effective communication skills. These sessions can help improve interpersonal communication, reduce misunderstandings and foster a more collaborative environment.
  • Branding + design: Budget for the design and branding of internal communication materials to ensure they are professional, engaging and aligned with the company’s brand identity. High-quality design can enhance the impact and readability of communications.
  • Hybrid + remote considerations: Ensure your communication strategy and tools include remote and hybrid employees. This includes budgeting for remote communication tools, planning virtual team-building activities and ensuring that remote employees have access to the same information and opportunities as those on-site.
  • Benchmarking: Compare your internal communications budget against industry standards to ensure your spending is competitive and effective. Use benchmarking data to optimize your budget and demonstrate its value.
  • Approval strategy: Use data and examples to show how improved internal communications can lead to higher employee engagement, better alignment with organizational goals and enhanced productivity.
    • Emphasize the ROI by detailing how effective communication reduces misunderstandings, increases transparency and fosters a positive work culture, ultimately contributing to overall organizational success.

F. Team recognition

Robust recognition programs enhance employee morale and motivation, driving productivity and fostering a positive work environment. An adequate team recognition budget should cover a variety of initiatives to acknowledge and reward employees' contributions and achievements.

  • Recognition programs: Create structured programs for employee recognition and rewards, including regular awards, bonuses and acknowledgment for exceptional performance. Consider implementing monthly, quarterly and annual recognition ceremonies to highlight outstanding contributions. Recognition can be based on performance metrics, peer nominations or manager recommendations.
  • Special events: Include recognition for significant personal milestones outside of work, such as the birth of a baby, weddings, anniversaries or other personal achievements. Acknowledging milestones with perks and gifts shows employees they are valued beyond their professional contributions, fostering a sense of belonging and appreciation.
  • Swag: Budget for company-branded merchandise or other personalized gifts to be given as part of recognition efforts. Customized gifts can leave a lasting impression and reinforce positive associations with the company.
  • Team outings + celebrations: Allocate funds for team-building outings and celebrations, such as team lunches, offsite events or holiday parties. Outings provide opportunities for employees to bond outside of work and celebrate collective successes, strengthening team cohesion and morale.
  • Postage: Allocate funds for mailing recognition items to remote employees or those not present in the office. Budget for international postage if your company has a global workforce.
  • Historical costs vs. plans: Review historical spending on recognition programs to inform future budget allocations. Analyze past participation, feedback and impact to predict future needs and ensure the budget accommodates anticipated changes.
  • Benchmarking: Compare your recognition budget against industry standards to ensure competitiveness. Use benchmarking data to optimize your spending and demonstrate the effectiveness of your recognition strategy.
  • Approval strategy: Present a clear rationale that highlights the positive impact of recognition on employee morale, motivation and productivity.
    • Use data and metrics to support your requests, showing how effective recognition programs enhance employee engagement, reduce turnover and contribute to a positive work environment.
    • Emphasize the ROI of recognizing and rewarding employees, which drives overall organizational success.

G. Recruitment

Effective recruitment strategies reduce time-to-hire and improve candidate quality, ensuring your organization attracts and retains top talent. A well-planned recruitment budget covers all aspects of the hiring process, from advertising to onboarding.

  • Advertising: Budget for job postings on relevant platforms and recruitment tools. Utilize job boards, social media and industry-specific sites to reach a broader and more qualified candidate pool. Effective advertising increases visibility and attracts a diverse range of applicants.
  • Recruitment tools: Include costs for recruitment software, such as applicant tracking systems (ATS), background checks and assessment tools. These tools streamline the hiring process, improve candidate evaluation and ensure compliance with hiring regulations.
  • Onboarding: Allocate funds for comprehensive onboarding programs. Onboarding should include orientation sessions, training materials, welcome kits and mentorship programs. Effective onboarding helps new hires integrate smoothly into the company culture and equips them to perform effectively from day one, enhancing retention rates and job satisfaction.
  • Employer branding: Budget for employer branding initiatives to position your organization as an employer of choice. Employer branding can include creating content for your careers page, engaging in social media campaigns and participating in employer review sites. A strong employer brand attracts top talent and differentiates your company from competitors.
  • Recruitment events: Allocate funds for participating in job fairs, career expos and networking events. These events provide direct access to potential candidates and offer opportunities to showcase your company’s culture and values.
  • Internal referral programs: Develop and budget for internal referral programs to encourage current employees to refer qualified candidates. Referral programs can be cost-effective and often lead to higher-quality hires. Incentives for successful referrals can further motivate employees to participate.
  • Diversity + inclusion initiatives: Ensure your recruitment budget includes initiatives to promote diversity, equity and inclusion. DEI recruitment initiatives involve partnerships with organizations that support underrepresented groups, targeted advertising campaigns and recruiter training on unbiased hiring practices.
  • Historical costs vs. plans: Analyze past hiring volumes, fees and success rates to accurately predict future needs. Consider any changes in business operations, such as expansion plans or new project launches, that may impact recruitment requirements.
  • Benchmarking: Compare your recruitment budget against industry standards to ensure you are competitive. Use benchmarking data to optimize your spending and demonstrate the effectiveness of your recruitment strategy.
  • Approval strategy: Use data and metrics to support your requests, showing how effective recruitment strategies reduce time-to-hire, improve candidate quality and align with organizational goals.
    • Emphasize the return on investment of attracting and retaining top talent, which drives business success and growth.

H. DEI initiatives

Investing in diversity, equity and inclusion (DEI) fosters a more inclusive workplace culture, enhances employee engagement and drives innovation.

  • DEI training programs: Budget for ongoing DEI training and workshops for all employees, including leadership. To build awareness and skills, these programs should cover unconscious bias, cultural competency and inclusive leadership.
  • Employee resource groups (ERGs): Allocate funds to support ERGs, which provide a platform for employees to connect, share experiences and support each other. Budget for meeting spaces, events and activities organized by these groups.
  • Recruitment + retention: Include costs for initiatives to diversify your talent pipeline. This can involve partnerships with diverse job boards, career fairs and universities, as well as developing mentorship and sponsorship programs to support the career advancement of underrepresented groups.
  • DEI assessments + audits: Budget for regular DEI assessments and audits to measure the effectiveness of your DEI initiatives. These assessments can identify areas for improvement and help track progress over time.
  • Inclusive policies + practices: Allocate funds for reviewing and updating company policies and practices to ensure they are inclusive and equitable. This may include revising hiring practices, performance evaluations and promotion criteria.
  • DEI events + campaigns: Budget for events and campaigns that celebrate diversity and promote inclusion within the workplace. This can include cultural celebrations, heritage months and awareness campaigns. (Download our 2025 holiday calendar here.)
  • External partnerships: Allocate funds for memberships and partnerships with external organizations that support DEI efforts. These partnerships can provide additional resources, training and networking opportunities.
  • Accessibility improvements: Include costs for making physical and digital workplaces more accessible to employees with disabilities. This can involve physical modifications to office spaces and ensuring digital content meets accessibility standards.
  • Approval strategy: Present a transparent and data-driven rationale that underscores the importance of diversity, equity and inclusion in fostering a positive workplace culture and driving organizational success.
    • Use case studies to show how DEI initiatives have improved employee engagement, innovation and retention in other companies.
    • Highlight specific examples of how DEI programs can address current gaps and challenges within your organization.
    • Provide metrics and anticipated outcomes, such as increased representation, improved employee satisfaction scores and reduced turnover rates among underrepresented groups.

I. Travel

Travel for recruitment, conferences and business development helps ensure the organization's continued competitiveness and connectivity in the industry.

  • Travel policy: Establish a comprehensive travel policy to control costs and ensure consistency. The policy should outline approved travel expenses, booking procedures, reimbursement processes and guidelines for using preferred vendors. Clear policies help manage travel expenses effectively and prevent overspending.
  • Identify essential travel needs: Determine the critical reasons for travel, such as recruitment, conferences and business development. Prioritize these travel needs to ensure that all necessary expenses are covered. 
  • Estimate travel budget: Determine whether you estimate the travel budget for the entire company or the People team. Check if other team leads already have their travel budget as a line item in their budgets to avoid duplication. Calculate the costs based on expected travel frequency, destinations and duration. Include expenses for transportation, accommodation, meals and incidentals.
  • Cost-saving strategies: Explore cost-saving strategies such as booking in advance, corporate discounts and leveraging travel reward programs. Encourage virtual meetings and remote collaboration tools when possible to reduce travel expenses. Highlight these strategies in your budget proposal to demonstrate fiscal responsibility.
  • Historical costs vs. plans: Analyze past travel patterns and expenses to accurately predict future needs. Consider any anticipated changes in business operations, such as expansion into new markets or increased recruitment efforts, that may impact travel requirements.
  • Hybrid + remote work considerations: Account for any travel expenses related to hybrid and remote work setups, such as periodic visits to the primary office or team-building retreats. Ensure these costs are included in the travel budget to support employee engagement and collaboration.
  • Approval strategy: Present a clear rationale that highlights the strategic importance of travel for recruitment, conferences and business development.
    • Use historical data, cost-saving strategies and industry benchmarks to support your budget request.
    • Emphasize the role of travel in maintaining competitiveness, fostering professional development and achieving business objectives.

J. Software

Investing in the right software solutions streamlines processes, improves efficiency and enhances data accuracy, supporting the overall effectiveness of the People team.

  • HRIS: Include costs for HR software systems like payroll, performance management and benefits administration. These systems are essential for managing employee information and automating routine tasks.
  • Learning platforms: Include the costs for a learning platform that allows you to proactively and reactively meet the professional and personal development needs of the organization.
  • Messaging platforms: Budget for communication tools such as Slack or Microsoft Teams, which facilitate efficient and effective communication within the team and across the organization.
  • Rewards platforms: Allocate funds for platforms that support employee recognition and rewards programs, helping to boost morale and engagement.
  • Engagement survey platforms: Include costs for tools to conduct regular employee engagement surveys, gathering valuable feedback to inform HR strategies.
  • Intranet: Budget for an intranet or internal communication platform that centralizes company information and resources, enhancing accessibility and collaboration.
  • AI subscriptions: Allocate funds for AI-powered tools and software subscriptions that enhance HR functions, such as talent acquisition, employee engagement and performance management. AI solutions can automate repetitive tasks, provide data-driven insights and improve decision-making processes, leading to increased efficiency and effectiveness. 
  • Approval strategy: Present a detailed rationale highlighting how essential software tools enhance efficiency, accuracy and overall effectiveness.
    • Highlight the specific benefits of each software tool, such as streamlined processes, improved data accuracy and enhanced employee experience.
    • Include metrics and projections on how software investments can lead to cost savings, reduced manual errors and better decision-making through data analytics.
    • Emphasize how integrating new software aligns with the company’s strategic goals, supports scalability and ensures compliance with legal and regulatory requirements.
    • Detail the potential for increased productivity, better talent management and overall operational improvements to show the ROI.

K. Office supplies + equipment

Maintaining a well-equipped and functional department is crucial for supporting your team's productivity and ensuring smooth operations. This may include budgeting for office-related expenses, supplies and equipment.

  • HR supplies: Allocate funds for essential supplies such as paper, pens, printer ink and other stationery needed for HR activities. This also includes materials for onboarding, training sessions and employee engagement initiatives.
  • HR equipment: Budget for office equipment specific to HR operations, including computers, printers, filing cabinets and other necessary tools. Ensure that equipment is up-to-date and adequate for handling sensitive employee data securely.
  • Postage: Assess mailing needs for HR communications and documentation. Budget for postage costs for sending out offer letters, contracts, benefits information and other important documents, as needed.
  • Remote work considerations: Budget for expenses related to supporting hybrid and remote work setups, including stipends for new hires' home office equipment, utility reimbursements and shipping costs for necessary supplies and equipment for remote HR employees.
  • Historical costs vs. plans: Review past spending on HR-specific office expenses, supplies and equipment to inform future budget allocations. Consider any anticipated changes, such as office expansions or shifts to remote work, that may impact costs.
  • Approval strategy: Use historical spending data to validate your budget requests.
    • Highlight the direct impact of well-maintained and adequately supplied workspaces on efficiency, compliance and overall performance.
    • Show the ROI by detailing how these expenditures support operational goals and reduce long-term costs associated with equipment failure or inadequacies.

L. Temp services + consulting

Temporary services and consulting provide your organization the flexibility and expertise to manage workload fluctuations, complete special projects and achieve strategic goals without long-term commitments.

  • Identify short-term needs: Determine areas where temporary staff can fill gaps and where consulting services are necessary. This might include seasonal work, project-specific tasks or covering for employees on leave. For consulting, identify projects needing external expertise, such as HRIS implementation, leadership training or organizational restructuring. Understanding these needs helps optimize staffing levels and ensures continuous productivity.
  • Estimate temp services + consulting budget: Calculate the cost of temporary staff based on the anticipated hours and duration needed to cover peak periods or special projects. Consider the hourly rates of temp workers and any additional fees from staffing agencies.
  • Cost-effectiveness analysis: Conduct a cost-effectiveness analysis comparing temporary staffing and consulting services to hiring full-time employees. Both temporary services and consulting can offer significant cost savings by reducing the need for long-term commitments and associated benefits costs. Highlight these savings in your budget proposal.
  • Flexibility + scalability: Emphasize the flexibility and scalability of temporary services and consulting. Temporary staff can be quickly scaled up or down based on changing business needs, and consulting services can be engaged for specific projects as needed. This allows your organization to remain agile and responsive to market demands.
  • Historical costs vs. plans: Analyze past usage patterns and costs to predict future needs accurately. Consider any changes in business operations or external factors that may impact temporary staffing and consulting requirements.
  • Integration with full-time staff: Plan to integrate temporary staff and consultants with your full-time team seamlessly. Ensure proper onboarding and training for temp workers and clear communication and collaboration with consultants to maximize their effectiveness and minimize disruptions. Allocate funds for these integration activities as part of your temporary services and consulting budget.
  • Approval strategy: Present a clear rationale highlighting the flexibility, cost savings and specialized expertise these resources provide.
    • Use data from past usage, cost-effectiveness analyses and industry benchmarks to support your budget request.
    • Emphasize the importance of temporary services and consulting in managing workload fluctuations, completing special projects and maintaining productivity without long-term commitments.
    • Show how these resources can be strategic tools for addressing short-term needs and supporting business objectives.

Step 4: Build + present the budget

A well-prepared and thoroughly justified budget increases the likelihood of gaining approval and support from leadership.

A. Create a detailed budget

Compile all line items with their respective costs and justifications. A detailed budget demonstrates thorough planning and supports your requests.

  • Include supporting data: Provide data and metrics that support your budget requests, such as ROI, cost savings and employee feedback. This evidence strengthens your case.

B. Prepare a budget presentation

Develop a clear and concise presentation for the CEO and CFO. Highlight how the budget aligns with business objectives and the expected outcomes.

Step 5: Review + revise the budget

After presenting your initial budget, be prepared for a review and revision process.

A. Feedback loop

Solicit feedback from the CEO, CFO and key stakeholders to understand their perspectives and address concerns. Use this feedback to refine your budget, making necessary adjustments while ensuring it remains aligned with the company’s strategic objectives. 

B. Final approval

Work collaboratively to fine-tune the budget and demonstrates your willingness to work with leadership to achieve common goals. Reiterate the justifications for each line item, emphasizing their importance to the achieve business objectives. Finalizing the budget with input from leadership ensures it is realistic, comprehensive and aligned with the organization’s needs.

Invest in your people with Electives.

From live daily classes to deep-dive programs, Electives makes it easy and affordable for you to offer your employees the best learning opportunities. 

By integrating Electives into your professional development strategy, you can ensure your team stays updated with the latest skills, trends and knowledge required to excel in their roles. Start today and transform your workplace into a hub of continuous learning and development with Electives. Contact us to learn more about how we can help you elevate your team's potential.

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