Prove the Advantages for Retention
Many organizational leaders fear that money spent on professional development will be lost when employees leave, but while that can happen, it also helps improve retention. “Engagement with an organization tends to increase when the organization invests in employees’ professional development,” says Leesa Schipani, partner at KardasLarson. Employees are generally more likely to be invested in an organization that returns the investment. “The costs of professional development are minimal compared to what it would cost to lose that person and their knowledge,” says Schipani.
Professional development is a key motivator, especially for younger employees. When an organization is willing to indulge the desire for learning, engagement goes up. “Demonstrate the value of investing in somebody who has institutional knowledge, is a cultural fit to your organization and has an appetite for learning,” Schipani says. Professional development can improve retention and business outcomes at the same time.
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