S-t-r-e-t-c-h-i-n-g the training budget — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily

It won’t surprise you that most companies plan to spend less on training this year.

Rather than lament the fact that there’s less money in the budget for traditional training, consider this: Less-formal training might be more effective than formal training, and it still allows you to develop your career.

Examples:

On-the-job learning: Job swaps and informal coaching are just two ways admins can expand their knowledge, without spending a dime.

Social networking tools:
Set up a wiki or podcast series to share best practices among team members or across teams.

Tuition assistance programs:
Take advantage of programs your employer already offers where you share training costs.

“Today’s business world demands a combination of formal and informal learning with an emphasis on collaboration, knowledge sharing, social networking, coaching and mentoring,” says Josh Bersin of research firm Bersin & Associates.

— Adapted from “Training Is Taking a Beating in Recession, Studies Find,” Ed Frauenheim, Workforce Management.

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