How Quality CPD Programs Aid Employee Satisfaction
Every member of the workforce is constantly developing, improving their abilities, and gaining new skills and areas of knowledge. People practice Continuing Professional Development (CPD), working to expand their knowledge base, both on and off the job. Employers investing in relevant learning opportunities can have a major impact on the effectiveness of professional development.
Many companies fail to invest a significant amount of time and effort into professional development as it is hard to quantify its impact in a short timeframe. The ROI of such efforts and investments cannot be found in a single number. The benefits can instead potentially be seen in the proficiency of employees over time and overall company innovation and development.
Here are just a few of the major benefits that can be found when employers invest time and capital in professional development for their employees.
Increases Employee Satisfaction and Retention:
Employees can be motivated and swayed by a company investing in their career growth. A study by Gallup found that 48% of employees would switch jobs if offered skills training opportunities.
Overall satisfaction can be greatly improved with more assurance that a role will prepare them for future career success. It is one of the largest factors aside from overall salary and benefits in attracting and retaining talent.
Keeps Team on the Cutting Edge of New Technologies and Industry Developments:
In accounting, employees keeping up to date with current methods, standards, and technologies is essential to job function. Changes happen on a yearly basis and previous optimal processes can quickly become outdated. Utilizing training that is up to date and reflective of any new developments guarantees employees have the necessary knowledge.
Some of the most highly regarded companies allocate significant time to employee initiatives. Google has seen major success with their program of letting employees devote 20 percent of their time to side projects. This project aided in the creation and development of some of their largest revenue generators including Gmail, AdSense, and Google News.
Lessens Amount of Company Time Spent on Professional Education:
The current trends in CPD are almost entirely composed of online based learning methods. Learning can be done at any time and from anywhere often without the need for pre-booking courses.
Finding a full-service online CPD solution removes the need for companies to book department-wide training seminars or hire expensive speakers that charge per session. This can save several work hours, up to a half or full day, for all employees which can be allocated to pressing needs.
Can Increase Self-Learning Desire of Team Members:
Though there are free options, there is a cost barrier for most quality professional education content online. When team members are provided access to tools to improve their abilities, many take advantage to improve their abilities. Non-mandatory learning opportunities can help increase desire as employees are given individual autonomy in self-improvement.
Provides a Unique Selling Point to Help Recruitment:
A company’s ability to put an employee in position for future career success is a major factor for most applicants. The same Gallup study found that 65% of workers found employer-provided upskilling very important when looking for a new job.
Offering professional development that is relevant and transferable can help alleviate worries caused by disconnect between the role and an applicant’s desired knowledge. As such, it assists in making potential employees feel confident they will be provided with skills they can put to use for future career success.
Meets Mandated CPD Requirements:
Accounting is one of the many industries with mandatory yearly CPD requirements. By ensuring employees are taking standard courses that are accredited for CPD, companies can more easily ensure all CPD requirements are met. Additionally, it saves employees the stress of having to seek out and expense courses on their own time.
Why it Matters?
When done properly, CPD makes sure learning is structured and allows employees to segment and focus on developing the skills that are relevant to their position. Investing in quality CPD systems from accredited providers can ensure that the education has practical applications in everyday work.
LumiQ is a platform that does CPD through short digestible podcasts. We offer a wide variety of technical content along with a great deal of material on career success and growth featuring some of Canada’s most renowned business leaders.
If you want to experience the LumiQ platform, click here for our free trial with 5 hours of Verifiable CPD.
