Allocating Budget for Professional Development

With EOFY fast approaching, now is the time to allocate your remaining budget for professional development. Investing in your team’s growth is one of the smartest moves you can make-both for immediate results and long-term capability.

Why act before June 30?
EOFY spending on training is often tax-deductible and can be a strategic way to use surplus funds. But more importantly, it sets your team up for success in the new financial year.

How to allocate your budget wisely:

1. Prioritise training that addresses the most urgent skill gaps identified in your audit.
2. Look for group training options or e-learning platforms that offer value for money and flexibility.
3. Set clear expectations: What outcomes do you want from this investment? How will you measure success?

Pro tip:
Document your professional development plan and budget allocation. This makes it easier to track ROI and report on the impact of your investment. Don’t let your EOFY budget go to waste. Invest in your team’s growth and watch your business thrive. Need help getting started?gic goals, you ensure every dollar works harder for your business. Stay tuned for our next newsletter on how to allocate your budget for maximum impact!