8 Budget-Friendly Ways to Offer Career Development - ApplicantStack

Career development activities don’t have to be luxury retreats with private chefs. Creativity and imagination go a long way in developing opportunities for your employees that don’t require an exorbitant budget and months to plan. Businesses of all sizes can find ways to encourage and uplift workers in their career goals. Here are some budget-friendly suggestions.

What Is Career Development?

Career development is the process in which employees create a path for their future career goals and aspirations. The process starts by assessing where they are currently, setting goals, outlining a plan, and looking for development opportunities to meet those goals. People may seek out leadership training, industry-specific conferences, or personal coaching on their own. Proactive employers may provide company-wide or individualized experiences to help workers on their professional pathways.

You can show commitment to employee personal development by blocking company time on the calendar, whether that’s a company-wide schedule or letting employees choose their own time. Ensure managers and other colleagues respect that time and don’t habitually fill it with routine work tasks.

How Is Offering Career Development Beneficial to a Company?

There may be some hesitancy to provide employees with career development that the employee may use to springboard them to a different job elsewhere. In fact, according to a 2018 LinkedIn study, 94 percent of employees indicated “they would stay at a company longer if it invested in their career.”

Forbes Council Member Ginni Saraswati suggests five reasons to offer career development:

• ​Increased motivation. Employees who feel seen as a whole person with individualized goals and aspirations are more likely to feel motivated to make the most of their time at work instead of just clock-punching until the next thing.
• ​Increased productivity. Consider how to maintain an abundance mindset with employees. Generosity with career development contributes to individual productivity by putting into practice what they are learning, which extends to other colleagues and enhances company culture.
• ​Retention. Many factors contribute to retention numbers, but surveys suggest this investment contributes positively.
• ​Attracting top candidates. If and when employees leave the company, these cultural values become known in the workforce at large, helping you attract top talent. Career development is considered a desirable perk for many job seekers.
• ​Increased profitability. Employees who feel valued are more likely to buy into the company’s mission and goals, leading to a more unified and motivated workforce with an eye toward the company’s success.

Budget-Friendly Career Development Ideas

Mentorship

Some mentorship training organizations offer courses for companies for a small fee per person. You may also consider connecting a prime employee with a no-cost mentor through the Small Business Administration’s SCORE program. Area-specific mentors give training to small business owners or employees in areas of Human Resources, financing, etc.

Language Training

Businesses whose customer or client base primarily speaks a language other than English may consider offering employees subscriptions to a language learning app like Duolingo or Babbel. Industries like construction, agriculture, and retail can often benefit from employees with conversational abilities in Spanish, for example.

Time Management Toolbox

There are many strategies for better time management, and different people respond to different options. You could create a company toolbox with introductions to the various options and even provide subscription funds for those that aren’t free. Embracing and encouraging time management strategies can be a unifying aspect of company culture.

Personality Analysis

Self-reflection tools like the Meyers-Briggs Type Indicator Assessment or the Enneagram can be a useful jumping-off place for further professional development opportunities like communication and conflict resolution strategies. While they provide an incomplete analysis of a complex human being, they can give communal language to certain preferences and working styles and help employees cooperate in the workplace. You could gather employees for a lunch and learn session where everyone takes a test with an administrator who leads a discussion about practical applications.

Communication Workshop

Even without the insight of a personality test, communication training can be tremendously beneficial for nearly every workplace interaction. Organizations like the American Management Association offer communication courses with multiple lessons for an affordable price. You could gather small groups of workers to complete the course and implement a system of appreciation or reward when managers notice the skills put into practice.

Conflict Management Workshop

Similar to a communication workshop, training focused on conflict management has benefits across many interactions. You could start with a group of managers or human resources employees to give them appropriate skills for inevitable conflicts. The National Conflict Resolution Center offers a dozen workshops catered to specific kinds of conflict, including some free resources. One may be a perfect fit for your company’s needs.

Book Club

If workshops aren’t your style, there are hundreds of books written to address personality differences, communication styles, conflict resolution, leadership, goal-setting, among many other topics. It’s likely most people have heard of Crucial Conversations, a well-respected source of “tools for talking when the stakes are high.” But they may not have read and digested it, which is where a company book club comes in. The authors have provided study guides, discussion questions, and videos to go along with reading the book. Small groups may be ideal for this kind of activity, held on a rotating schedule.

Local Guest Speakers

If your business is located in a town near a university or college, it’s likely that among the professors there’s a subject-matter expert on any of the concerns your business or employees are facing. Invite them for a talk with a meal and tap into their insights. Alternatively, you could invite an artist or a musician to provide a creative break for the company. In that case, you can give space for the holistic balance of employee passions and interests that exist outside of work.

Professional Certificate Courses

Community colleges can be a valuable resource for providing extra training for employees who are changing positions or need a refresher on updated practices. Professional organizations like the Society for Human Resource Management offer certifications for HR professionals, with the added benefit of valuable education. Seeking out and paying for these individualized growth opportunities can show your employees you see and value their contributions.

When planning for career development opportunities, let generosity be your guiding star. Even with a limited budget, you can show your employees that they are worth the investment. And with ApplicantStack, you can build teams of qualified, hardworking individuals who are ready to take part in advancing in their careers.