Pros of Professional Development06/19/2019
With finance and accounting unemployment rates hovering around 2%, astute employers are expanding employee retention initiatives to remain competitive. Designing professional development plans that encourage job satisfaction are top of mind for many employers interested in upping their employee retention strategy. Providing professional development training encourages employees to perform better and prepares them for greater responsibility. Additionally, it can also help attract top job candidates. Investing in your employees is beneficial to the entire company and can boost the bottom line.
Match Professional Development Options with Learner Interests
Provide a variety of educational and training options to match employee learning styles and interests. These include:
- Extended professional development options, such as:
- Finance and accounting certifications.
- Accredited and continuing education courses.
- Goal-specific in-house mentoring.
- Sound-bite learning that can be readily integrated within a workday. These can be conducted independently or led by anyone wanting to advance their training abilities.
- YouTube sessions.
- Video and audio tutorials.
- Short skills sessions to advance digital knowledge, soft skills, customer awareness, and others.
- Invite employees who are enrolled in courses, conducting certification studies, or have attended a conference to:
- Hold lunch and learn sessions with colleagues about lessons they are gaining.
- Provide Q & A opportunities to share:
- First hand insights about studying online.
- Seeking certification.
- Balancing learning with work and home life.
Consider Return on Investment Planning
As you plan on investing in employees, you want to assure that your organization gains as well. Consider options for protecting business interests while providing for professional development.
- Establish a contractual agreement for tuition reimbursement. This may include:
- Expected duration of continued employment following course completion.
- Partial or full payback of tuition if employment ends.
- Request employees engaging in professional development to mentor new staff or prepare internal social media posts about lessons learned.
When employees can perform their jobs more efficiently, they become more confident and motivated. Confidence and motivation leads to greater employee retention.