Your best resources are the people you hire. They understand what you do which is why you should think of them first when expanding your talent pool.

Training and development are obvious musts for any company making sure its employees are up to date with any required professional licenses or certifications. But it doesn't need to end there. You can identify people within your company who would thrive in roles requiring a higher degree of skills. Ways to do that are:

Provide mentoring or one-on-one coaching opportunities. This will help your employees know where they need to improve and what career tracks are best for them within your firm. The goals and expectations of the training must be transparent so your employees have a full understanding of what they are getting into.

Cultivate an internal development program. This will encourage promotion and career advancement at every level possible.

My firm established a Planner Development Program geared to give all employees a better understanding of what a financial planner does and the opportunity to explore this career path if they are interested.

Every Friday afternoon for 90 minutes we invite a speaker within the company to discuss a special topic--Risk Management Principles or Financial Planning Basics. Employees receive assignments they turn in the following week in workshops. We offer four different sessions that cover all phases of the job. Sessions last six to eight weeks. To move onto the next session, employees must have performed successfully during the last.

Reinforce learning. When employees receive annual reviews, ask them about what they want to learn to take them to the next step in their career. When a project succeeds, and even when it fails, use it as an opportunity to talk about why.

Recruiting outside the office costs time and money. Sometimes the person who will work out best is sitting a few cubicles away. Seek them out and give them the tools they need to succeed.