Ninety-four percent of CFOs surveyed by Robert Half International survey said it was valuable for organizations to invest in ongoing professional development for their employees. However, more than half (57 percent) said their company doesn't offer a formal training program.

For many firms, the primary deterrent to offering educational opportunities is the expense. Some training options can cost thousands of dollars, putting them out of the range for businesses on tight budgets. However, several professional development choices cost relatively little.

Mentoring  Mentoring programs pair more experienced staff members with employees who want to learn more about a particular field or skill area. They can also help new hires adjust to the work environment and get up to speed more quickly. The only expense is the time required to create and oversee the program. In most cases, companies assign this responsibility to a human resources representative or manager within the organization.

It's important to identify mentors who possess the right skills and attitude to support the career goals of those who they are mentoring; ideally mentors should not be direct supervisors. Participants should be able to talk freely and not worry about the way their comments or questions are perceived. For instance, you might pair a staff accountant who wants to enhance her presentation abilities with a senior accounting manager who is an excellent communicator.

The benefits of these relationships aren't limited to those who are being mentored. Mentors themselves enhance their supervisory and training skills, thus refining their leadership qualities. And they benefit by knowing that they have been selected for their knowledge and contributions.

E-Learning   The newest training option-e-learning-- is quickly becoming a popular alternative to the more traditional in-house educational sessions. In this method, also known as distance learning, employees receive their training through a high-tech delivery system, such as the Internet or company intranet. People can access the information at their convenience, instead of having to schedule significant time away from the office.

Most systems offer a complete package that includes training, tracking and reporting, so you can gauge whether staff memhers are mastering new skills. A wide range of topics is available, from financial software applications to accounting practices. However, you may need to supplement e-learning with other training options. For instance, classroom sessions may be more effective than online courses in such areas as team-building and public speaking, where participants benefit from live interaction.

Off-the-Shelf   Some courses and seminars come packaged in kits and can be self-administered or presented to a group without the aid of an instructor who's an expert in the topic. These off-the-shelf programs are typically in the form of videos, CD-ROMs, books or other materials.

Like e-learning, this option offers the benefit of flexibility-students can study at their convenience. However, the lack of human interaction and direct instructor involvement can hamper the learning process.

Other Choices   Don't overlook in-house classroom training and public seminars. While these generally are more expensive, they may prove to be costeffective, depending on your requirements.

Classroom training provided by your firm (facilitated by employees or outside specialists) offers opportunities for group interaction and gives instructors the chance to motivate the group and address the individual needs of students. In addition, it gives staff uninterrupted time to focus on learning the new material. This may be a good option when a large group needs the same instruction, for instance on a new database application.

If only one or two staff members need training, it may be better to send them to an outside workshop. Public seminars, which are typically run by training companies, can offer similar benefits as classroom training. To get the most out of these programs, make sure the content fits your firm's specific needs.

Regardless of which method of professional development you use, it's important to set clear objectives from the beginning. What improvements are you expecting from professional development programs? What kind of commitment-in terms of money, time and effort-is your firm willing to make in supporting training?

You should be prepared to measure the results of the effort. Gauge the initial employee reaction to the program. Do they think it's worthwhile? Also take a look at test scores, if available, and the overall impact on job performance.

A training program isn't cost-effective if it doesn't produce the desired results. The key is finding the right option for your firm's needs. Take the time to thoroughly research all of your choices before you commit to any decision.

-- Max Messmer