Amongst fixed pay, flexible hours, paid time-off and affordable health insurance, professional development is considered a top benefit to employees searching for a rewarding workplace. According to Better Buys, employees with professional development opportunities are 34% more likely to remain at their job than their counterparts and a whopping 92% of employees believe having access to professional development in the workplace is important or very important.
There are several ways to offer professional development through your company. In the process, you can help your employees gain new perspective on the work they do and bring new skills to the table. Here are our top 4 picks for professional development.
Online learning is when employees take courses on relevant workplace skills through online portals. Prestigious schools including MIT and Harvard offer free online courses in a number of different industries, and you can also find a variety of online educational sources such as OEDb, Coursera, Codecademy or Lynda.com to jump-start your learning.
What are the benefits of online learning?
- Affordability for employers
- Accessibility for employees
- A near limitless number of available resources
- The ability to complete learning around work schedules
Mentorship programs take seasoned employees and pair them with new hires to train, engage, and answer questions about the workplace. These types of programs benefit mentors, mentees, and employers alike.
Mentors are able to give back to their company, learn active listening skills, strengthen interpersonal skills, and develop a strong sense of self-worth. Mentees retain an important and trustworthy mentor, improved confidence, and increased respect for their employer. And in the process, employers create a healthier, more positive work environment and foster essential leadership skills in employees!
Tuition assistance is when employers offer to provide or reimburse funding for education. Companies choose to offer tuition assistance for a variety of reasons – namely to give employees an opportunity to improve their professional skills and continue their love for learning.
Other benefits include:
- Showcasing a willingness to reward hard work and motivation.
- Investment returns. According to a recent study based on health insurance company Cigna, for every dollar spent on educational reimbursement, one dollar was returned in direct benefits. Another $1.29 was returned through reduced turnover rates and lower recruitment costs.
- Direct financial incentives. Companies may deduct tuition assistance as a business expense. The IRS allows $5,250 per employee, per year.
Conferences and Seminars
Sometimes, to aid in professional development, employers will encourage employees to attend relevant conferences led by company or industry experts.
When employees attend conferences, they often experience renewed motivation. As a result, company morale may improve. An even bigger incentive can be found in retention rates. A direct correlation has been drawn between employee conference attendance and long-term retention.
Help Your Team Grow Today with Professional Development Opportunities!
There is a slew of benefits available when employers choose to offer professional development opportunities for their employees. Of course, the process starts with the right employees. Contact the team of experienced talent managers at nTech Solutions to learn how we can assist you with your recruitment needs.