Every successful, thriving, and growing business nurtures its talent and ensures that everyone in the organisation is not only doing their job but building themselves to meet the new challenges of the industry.
This is where a culture of continuous improvement is almost mandatory, even in industries and fields where a continuing professional development (CPD) programme is not legally required.
In many fields, most notably law and medicine, CPD is legally required, and the consequences of neglecting it are swift, immediate and devastating to both individual careers and organisations.
However, even in other professions, not appreciating the value CPD brings to your organisation can be riskier and often cost you far more than investing in your employees.
Whilst businesses want to maximise their minutes and prioritise work over learning, this can have significant consequences that are sometimes only felt when it is too late.
Does CPD Affect Retention?
Continuing professional development is more than the sum of the courses of education provided or the accredited qualifications your employees need to be the best versions of themselves; it is a vote of utmost confidence and belief in your staff.
It is a statement that you want to nurture them, build their skills, and that you value the contributions they bring, and that investment in your staff is repaid many times over through loyalty, hard work and high morale.
Support matters, and if employees feel unsupported, they feel undervalued and will often feel forced to leave in order to support their career.
High levels of turnover are often connected to feeling unappreciated and unsupported, so CPD can help foster a culture of nurturing and growth.
Does A Lack Of CPD Widen Skill Gaps?
The goal of CPD from a business perspective is to future-proof your business, and a major aspect of this is identifying and closing skill gaps.
Every business has something to learn; even the oldest, most established sectors have skills they can build up and learn, such as ecommerce, digital literacy, communication and human resources.
Every industry sees changes, and the companies that survive are able to adapt and train to narrow skill gaps, whilst companies set in their ways fail to see the mountain erode around them.
Can Neglecting CPD Cost You Sales?
In a very tangible way, lacking a culture of CPD can have a measurable financial cost, as customers and clients in many business-to-business sectors are mindful of the importance of CPD in maintaining standards.
Part of the appeal of professionals in many trades is that they are constantly learning, improving and maintaining a relevant base of information in their field, and neglecting continuous improvement can be a sign of complacency or even arrogance.
This can directly affect sales, as customers look elsewhere for more qualified professionals.
It can also cause indirect ramifications, as a lack of continuous improvement can be seen through decisions made in product development, the look and feel of resources and increased stagnation.
Ultimately, a company that fails to keep moving is one that is losing ground to all of its competitors who are focused on continuous development.
