How can global companies like Apple and Google adapt their budget allocation to evolving L&D needs?

Some common misconceptions about budget allocation for Learning and Development (L&D) in companies include the belief that L&D is an unnecessary expense rather than an investment, that it's only beneficial for large corporations, or that it's only about formal training. In reality, L&D can provide significant return on investment by improving employee skills and productivity, it's beneficial for companies of all sizes, and it can encompass a wide range of learning opportunities, from on-the-job training to mentorship programs.

Companies can use several strategies to ensure their L&D budget is being spent correctly. They can conduct regular audits to identify areas of overspending or underspending. They can also use data analytics to track the effectiveness of their L&D programs and adjust their budget accordingly. Additionally, they can seek feedback from employees to understand their learning needs and preferences. Lastly, they can consider outsourcing certain training programs if it's more cost-effective.