Investing in your team through professional development can be a costly endeavor. Conferences, seminars and team building exercises can be expensive to attend.
Add in the fact that time away from the office amounts to lost productivity for your business, and it’s no wonder why so many employers put professional development opportunities for their staff members on the back burner.
But despite the cost and lost productivity, professional development has innumerable positive effects, both for employees on an individual basis and for the businesses that prioritize investing in continuing education for their staff.
Are the benefits worth the expense for your business? It’s up to you to decide.
Advantages of Professional Development
For organizations and employees in most industries, there are myriad benefits to continued professional education. Here are just a few of the top reasons professional development is well worth the investment.
Builds Your Company’s Collective Knowledge
This might be an obvious advantage, but it’s certainly worth noting. Professional development is a terrific way to invest in your company by increasing your overall knowledge base.
Your employees are one of your biggest assets, and giving them opportunities to learn and grow makes them – and in turn your company – better.
Provides Added Exposure for Your Business
Your employees are representatives of your business. That means when they attend professional development events, they are helping to get the word out about your company!
Whether it’s just your company name on their name tag, or it’s their mention of your services and products as they’re mixing and mingling with other attendees, sending your employees into new territory can open up new avenues for exposure and help create new sales opportunities.
Boosts Your Company’s Reputation
Professional development isn’t only good for your company. It also makes your company look good, both in the eyes of prospective employees, and in the eyes of those who do business with you.
If you’re looking to secure high quality employees and customers, and you want to remain competitive with others in your industry, offering professional development opportunities is an absolute must.
Keeps Employees Engaged & Refreshed
Burned out, uninspired employees don’t do their best work. Professional development is a great way to keep your employees feeling engaged with the tasks they work on, whether it’s because of a new strategy they’re excited to implement or a fresh perspective they’re bringing to the table.
Continuing education can also help employees to feel refreshed and rejuvenated when their regular routine is starting to feel a bit stale. It’s a great way to help them change up the pace in a way that will benefit your organization.
Increases Employee Retention
Professional development is a key factor in increasing employee retention. Enabling your employees to continue growing is one way to ensure that your team members will continue contributing to your business for the long term.
It’s easier to maintain existing, knowledgeable employees than it is to seek out and hire new employees who need to be trained on the ways of your business. Plus, employees will be much more inclined to stay with your company if they feel valued and appreciated because you’re continuing to invest in them.
Helps You To Attract Top New Employees
In this day and age, employees want to keep their opportunities open and their skills on point. Many workers are looking for jobs that will help them to do so – and as a result, they have their eye on employment opportunities that offer chances for ongoing professional development.
If your company isn’t offering those chances, it’s likely you’ll be overlooked by some of the top candidates. This means that professional development not only benefits your current employees; it can also help you attract desirable new employees as well!
Keeps Your Business Up To Date
Professional development can help to make you aware of where your team has room for growth, and provides the opportunity to stay up to speed on what’s going on in your industry and amongst your competitors.
While you’re actively investing in your employees by giving them the chance to refine their existing skills and gain new ones, you’re also investing in your business by keeping a finger on the pulse of what’s going on around you.
Make Professional Development a Priority for Your Business
The advantages noted above are just a few of the many benefits your employees and your company will reap by engaging in professional development on a regular basis.
If you’re looking to keep your employees happy, improve morale, and take your company to the next level, professional development is a must.
Looking for other ways to help your small business thrive? Be sure to check out our tips for small business owners!