What is a professional development course?
And why is it important in 2023 and beyond? Professional development and continual learning help individuals cope with increased competition and challenges in the workplace. It also supports advancing and expanding one's skills from the technical aspects of the role to job expectations related to dealing with people - from customers, colleagues and even subordinates as one moves into a supervisory position.
Professional development courses are suited for people in all industries. Teachers, nurses and IT professionals in Australia often sign up for a professional development course online or in-person to improve communication within their teams and to grow their careers.
According to PDT, employee turnover is one of the biggest problems businesses face today. 94% of employees surveyed by LinkedIn for its annual Workplace Learning Report said they would stay at a company longer if it invested in their professional development. Retaining your employees significantly impacts the bottom line and the quality of your business. According to the Human Resource Institute, replacing an employee costs about $10-$15k. It can take up to three times to replace a management or senior-level employee.
When it comes to factors impacting Employee Retention, the pandemic is one of them. It has sped up digital transformation and the ever-enlarging skills gap. Skilling, employee retention, well-being, leadership, and L&D are all urgent priorities.
Business volatility is another. It amplifies the need for HR to think holistically. There’s a need to focus on professional development, skill-based planning and internal mobility to build a work culture based on continuous learning.
PayScale surveyed 38,000 respondents and found that professional development courses can address the learning opportunities they want, with the rest focused on technical skills training and employer-subsidised degrees.
32% Management and leadership training - As departments expand and organisations restructure, they must identify new leaders with the skills to manage and lead teams and subteams. Management skills are vital in completing tasks and meeting key performance indicators. Leadership skills, on the other hand, ensure that leaders are prepared to motivate their teams.
30% Professional certifications - As team members get involved in the business overall, they need to gain an understanding of how to support different departments and how to make decisions for matters like recruitment and bidding. Professional development courses in human resources, accounting and finance and in negotiations can equip them for these situations.
17% Technical skills training - Staff want to advance their technical proficiency to perform the technical aspects of their jobs better. Depending on their focus, specialised training can cover Art and Design, Media and Publishing, Architecture and Engineering, Information Technology (also available on Lumify), Maintenance and Repair, or Science and Biotech.
8% Teamwork and interpersonal skills training - Individuals and organisations have realised the value of soft skills. Competencies like resilience, verbal communication and creative thinking encourage smoother collaboration between customers, partners and colleagues and are critical factors in the success of projects.
7% Employer-subsidised degrees - Some employees are looking for support for tuition fees towards advanced education like diploma courses, master's degrees or doctorates. These can take longer to complete and require more financial resources. It also entails establishing details and guidelines around the program regarding time commitments and costs covered. Although the rewards can be great - in one case study, a health insurance company experienced a 129% return on investment.
