Posted by: Kaplan Financial Education
Updated: November 8, 2018
The skills gap has been a hot topic among business leaders, educators, and politicians over the last several years. According to a recent study by Career Builder, a company on average loses more than $14,000 for every job that says vacant longer than three months. Rather than waiting for the perfect employee to come along, we suggest you consider utilizing professional development to build the skill sets you need in your organization. Below are just five of the many benefits professional development can provide for your business.
In an era where more and more employers are cutting costs for opportunities like training, your organization can stand out from the rest by offering and promoting some professional development options. Offering professional development shows your workers that you care about their career progression and are interested in keeping them at your organization long-term.
No one likes to feel like they are missing important skills in their job. Providing professional development training opportunities allows your staff to build confidence in the work they do. It also helps them to build credibility as they continue to gain new skill sets and certificates.
Professional development programs are great tools for training future leaders at your organization. Rather than hiring outside the business, promoting from within is a great way to show your staff that they can have a long career with your organization. It can also reduce the knowledge gaps that are inevitable with turnover and outside hires. By choosing professional development programs that help your employees master skills they need to progress, you can shape the development of your future leaders.
Professional development can help break up the monotony of everyday work and reenergize your staff’s creativity. Providing periodic professional development can also help your staff gain new skills and perspectives, which can translate into how they approach their jobs.
Not only does professional development offer new skill sets, but it also allows your staff opportunities to learn from others in the training. As other professionals share their experiences, your staff can pick up new ideas and perspectives. This can lead to greater productivity and efficiency for your organization.