Achieving success in your career requires continuous education and training, which is where professional development comes into play.
However, professional learning is more than just training, and it is important for employers and employees alike to familiarize themselves with the nuances between these two terms. Today, we’re going to take a closer look at what professional development is all about.
What is Professional Development?
It’s not a secret that different jobs require different skills. Even if a worker currently has the skills needed, he or she may need additional skills in the future. Through professional development, workers can learn these skills in order to become better, more efficient workers.
While vocational training is an essential part of professional development, this concept covers all forms of education and learning that are intended to help a worker succeed. Other examples of professional development include college studies, online training programmes, industry certifications, coaching, mentoring and consulting.
Benefits of professional development for Employers
Employers can benefit from professional development in a number of ways. First, it promotes higher retention rates for employees. Statistics show that the cost of turnover of employees is up to 16% of the employee’s annual income. This means that an employee who earns $100,000 per year will cost the employer $16,000 if he or she quits.
Employers offering professional development, however, will encourage employees to stay in business.
Professional development also signals competence on behalf of the employer. In fact, some industries require workers to hold certifications. And if a worker does not have the necessary certification, it looks bad for the employer – not to mention the legal challenges it poses. However, professional development can help workers obtain the necessary certification and training for their industry.
Benefits of professional development for Employees
Employees will also become better employees through professional development. By learning the right skills for their career, employees will be more productive and efficient, helping the business for which they work.
Finally, professional development can open the door to new opportunities for employees. If an employee struggles to be promoted to a higher, more lucrative position, professional development may help him or her to secure this promotion.
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Hemang is an experienced Business Coach and Trainer known for his measured and precision analysis and feedback along with individual counselling skills which compare with the best internationally. He is a highly skilled Management Graduate with more than 18 years of experience in the formulation, expansion and implementation of high level strategies relating to people and business in diverse verticals like Retail, Wellness, Logistics and Talent Development in UK, Singapore and India.