The Key to Workplace Success: Investments in Professional Development
Your Professional Development Jet Pack!
One of the most powerful win-wins for the employer/employee relationship is investments in professional development (PD).
The ROI is measurable and here are some stats to prove it:
Employees with access to professional development are 15% happier in their job and 34% more likely to stay
Organizations with fully satisfied employees perform 202% better than their competitors
To hire one new employee it costs about $4,000
When an employee leaves it costs about 9 months of their salary to replace them
87% of millennials look for an employer that offers professional development
Recently our CEO, Chantal Sheehan wrote this guest blog feature for the productivity platform Hive on the ROI of Investments in Professional Development. (Side note: We use and love Hive!)
In her article, Chantal shares how employers can begin to invest in their team. And, these recommendations won’t cost an arm and a leg.
Offer a small stipend to each employee. Let them research and present a few opportunities they find valuable. You will gain insight to your team’s professional growth goals and start a healthy conversation about their future at the organization!
Leverage your experienced team members. Ask your rock stars to put together a training program for the team. This is an empowerment win-win on all levels!
Budget in advance. Our team at Blue Fox serves mainly nonprofits and social enterprises, so we know the importance of reserving funds for professional development far in advance. Ask your board of directors to provide a recommendation for the line-item. Involve them in the decision process and approve your budget with flying colors!
Join a professional association. Local and national associations provide education and training opportunities relevant to your industry. Plus, these opportunities are discounted with a membership. This also gives you the ability to guide your employees training choices where you see the need. If you’re not sure where to start looking, our marketing guru is constantly sharing advice, articles and training opportunities for nonprofits and social impact organizations on our social media pages (LinkedIn/Facebook/Twitter).
Shameless plug time: If your team could benefit from financial management and financial technology training, Blue Fox is your guy/gal/person. Give us a call at (321) 233-3311 or shoot us an email today!
