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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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