Q: My organization is having difficulty finding qualified applicants for open positions. We’ve been discussing whether we can find ways to improve the skill sets of our current staff to meet the challenges we’re facing. Is this doable, and if so, how do we get started?

A: Retraining your current employees is absolutely a good idea, but it isn’t a quick fix, and there are costs involved. The good news is that—in addition to preparing current staff to take on new challenges, which should improve productivity—retraining may have a positive impact on morale, engagement, and retention.

In addition to preparing current staff to take on new challenges, which should improve productivity, retraining may have a positive impact on morale, engagement, and retention.

Here are some steps to take if you decide to retrain members of your current staff instead of hiring new employees:

1. Identify the new skills that are needed. This will take careful thought and possibly some research to find out what skills your organization needs now and in the future.
2. Assess your current staff’s skill sets. Once you know what skills are required, review the skill sets of your current staff and determine if you have people who have some, but maybe not all, of those skills.
3. Evaluate the gaps between what you need and what you have. Take an honest look at this. You may decide that the gaps are too wide for successful retraining and that your best bet is to continue recruiting for someone who has all the required skills.
4. Review your compensation structure. You’ll need to determine how retraining current staff to take on additional responsibilities will affect what you pay them.
5. Get commitment from staff. If you determine that you have people who, with additional training or mentoring, can learn new skills and take on additional responsibility, your next step is to talk with those individuals and get their commitment. Help them understand the upside of learning a new skill or developing a new interest. Encourage them and get them excited about what the new skills will do for your organization and for their future employment opportunities.

There are a variety of ways to develop your current employees’ skills. Some—such as cross-training, mentoring, and cross-functional projects that introduce employees to other parts of the organization—are cost effective. Don’t overlook self-directed training, which might include webinars, podcasts, books, articles, Ted Talks, YouTube videos, and other easily accessible resources.

Instituting a retraining program also has a positive effect on employee engagement and retention. These benefits may help you offset any additional training costs.