Talent Development on a Dime

To keep employees engaged and retained, employers need to consider their professional development. However, not every organization has a robust budget for talent development. How can small companies and nonprofits compete in the talent market against organizations with more resources? First, start by identifying practices that have worked in the past. Identify the strengths and weaknesses of your current employee development program as well as the stumbling blocks. Once these strengths, weaknesses, and pitfalls have been identified, think creatively about solutions. If the budget is low, consider mentorship or buddy programs. Using the institutional knowledge resources you already have in a training capacity is a low-cost way to help sharpen the skills of all employees. Also, keep all training methods interactive and engaging. If resources are stretched thin, the last thing you want to do is waste it on boring training sessions no one will retain. Think about lunch-and-learn sessions and collaborative problem-solving meetings.