3 Reasons to Invest in Professional Development

Is professional development one of your top priorities for the coming year? If not, now is a great time to restrategize. Investing in professional development (PD) not only empowers your team to stay on the cutting edge, but also shows that you understand the importance of nurturing talent. And in an increasingly competitive market, that can be a major differentiator for retention and recruiting. As you plan your annual budget and recruitment/retention strategy, consider the proven benefits of continuing education for every member of your team.?

1. Amplify performance

When you want to grow future leaders, PD is the key. Investing in leadership development ensures your organization’s future innovators are engaged and prepared to be promoted from within. A thoughtful professional development program results in employees who are:

• More confident, productive, and efficient
• On top of current best practices and evolving trends
• Contributing more to the company as their skills improve?
• Poised to step up as your company grows

2. Improve retention

When you hire the best, you want them to stick around. Even your highest-performing team members crave opportunities to learn and grow — and if you don’t provide them, your best people will start looking elsewhere. According to ClearCompany, 74% of employees say that a lack of professional development opportunities prevents them from reaching their full potential, and 94% say that increased PD opportunities would make them stay at a company longer.?

PD increases morale land loyalty, which is becoming more important than ever as Gen Z job-hoppers enter the workforce. PD has the power to show your people that a job doesn’t have to be just a job — it can be an extended journey with multiple avenues for evolution and exploration.?

3. Attract top talent

When you want outstanding candidates, a robust professional development programs your organization apart. Emphasizing your PD opportunities is just as important as touting your excellent salary and benefit packages. High-level candidates who are hungry to perform at their peak want to know that your organization will help them optimize. Opportunities to learn point to a culture that values a candidate’s career growth.

How to implement effective professional development

PD goes deeper than simple training for a job-specific function. It’s about focusing on larger, career-enhancing competencies and substantive growth. Ongoing development opportunities generally take the form of leadership development programs, targeted workshops, one-on-one coaching, stipends for attending classes or conferences, and mentoring programs. Follow best practices for effective PD programs:

• Provide ongoing opportunities that align with your organization’s strategic needs
• Ensure that everyone has equal access to PD
• Communicate regularly so that everyone knows about opportunities
• Dedicate a quarterly or annual budget to PD at all levels
• Work with a dedicated team of professional coaches who can tailor programming specifically to your company’s needs

Implementing an effective PD program within your company will take more than organizing a single “lunch and learn” activity. When you weave PD into the fabric of your organization, you’ll see your people (and your profits) thrive.

Powerful question: When you look back on your career, what kind of professional development opportunities were most helpful for you?