July 06, 2004

Follow the Money Ė If You Can Find It

My latest newsletter for Tomorrow's Workforce looks at how one newspaper company budgets for training and sketches a broad formula for thinking about a training budget. It starts this way:

"Hereís a familiar scenario: Your newspaperís top executives say they are committed to training. But the money put aside for it disappears, perhaps spent on something else when a hard financial choice had to be made. At yearís end, the money is gone and the training never happened.

"Reid Ashe, president and COO of Media General, thinks he has found a way to break budget-but-donít-spend cycles: He has told the publishers and editors of Media Generalís 25 daily newspapers that budgeted training dollars cannot be used for anything else. If they donít spend the money it will be charged against their bottom lines nonetheless.

"In other words, Media General newspaper execs who donít train will still feel the financial pain."

Read the rest here.

Posted by Tim Porter at July 6, 2004 10:30 AM