5 Benefits of Providing Professional Development
As an employer, your decisions should profit your company. Recent research shows the correlation between investment in employees and financial return for the business. Equally, professional development training cultivates and attracts a skilful workforce with highly-motivated employees that are happy. And we all know that happy employees are more productive – 12% in fact, according to a study by the University of Warwick.
So what are the benefits of professional development?
For the individual:
- Fills gaps in your knowledge and skills, to become a more productive and efficient employee
- Increases confidence
- Allows you to build credibility
- Helps to achieve your career goals
For the employer and customer:
- Enhances customer confidence and loyalty
- Increases employee competency, resulting in increased efficiency in the workplace
- Boosts morale and motivation in the workplace
Let’s take a closer look.
Here are five professional development benefits of offering training to your staff:
Providing professional development enables your staff to stay in the loop regarding industry-specific topics. The training also keeps your employees up-to-date with technical advancements. As such, your workforce is empowered to be adaptable. For example, many businesses have had to adapt to the realities of EU GDPR (General Data Protection Regulation).
Training had helped greatly with helping employees understand their role in helping the business stay compliant. However, staying current may not be as easy as you think. Every second we have access to over 68,000 GB of internet traffic. New information is consistently circulating on the web. It is your job to identify relevant advancements for your business and keep your team in the know-how.
Professional development training is the cornerstone of an efficient workforce. Training helps staff work more quickly and to a higher standard. This is true of employees of all ages.
For example, many employees could benefit from a refresher masterclass in Excel to improve their skills. This could save the company time in the long run. Equally, managers may benefit from a certificate in project management.
3) Reputation and recruitment
Every office reaches a point where the mundane becomes too mundane. January blues kick in and by the summer employees may be itching to leave!
Professional development is a fantastic way to revive employee engagement year-round and demonstrates the importance of training in the workplace.
4) Cost Efficiency
Has employee investment become an oversight? Recent research claimed that 48% of workers in the UK want to leave their job due to a lack of job satisfaction. Yet, with only five to ten per cent of British businesses correctly assessing these costs, it is no wonder companies see high turnover.
The recruitment process costs an average of £3,000 per person based on a salary of £27,600. However, many agencies charge 20 - 30 per cent of the employee’s salary. As such, it is vital to learn how to motivate your employees.
Some companies are concerned that by training their staff, they will lose them. However, this is not true. In the UK, two out of three employees have moved companies because they were not given enough training and opportunities for professional development.
As a business, offering your staff training enhances your reputation, which is vital when recruiting staff.
For example, if your company boasts a culture centred on development, you will be more likely to attract motivated and qualified candidates. In turn, the ROI makes professional development worthwhile.
Another aspect to think about is your reputation on social media. Clients may review your employees via LinkedIn. By investing in your employees, you invest in your clients. The work will improve and your company’s reputation too.
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