Use this template to plan out your ERG budgets.
For your ERGs to be most impactful, you need to ensure that there is budget allocated to each group individually. This worksheet will help you identify how much budget to provide to each group and how to report and track on group spending.
There are typically 3 kinds of budget allocations for ERGs:
- Lump sum
- Per ERG
- Per person
Helpful Tip: Try to work backwards from what you want your ERG to achieve. External support, speakers, or consultants? Might be a higher budget. Internal events, community, and internal education? Might need a lower budget.
We’d suggest steering away from a per ERG model as all ERGs will have different purposes, goals, etc. You might institute spending minimums or maximums for ERG, but that is a budget management concern.