Professional Development, Resolutions, Recession, and YOU!
If there is one thing people tend to do in December, it’s to think about their resolutions for the new year. And because the last several years have been … let’s just say… different, you might not have been in the mindset to hop on that resolutions train. Choo-Choo!
Not only are people ripe to ramp up on their resolutions, but people are also looking to find ways to advance their professional development. Sure, you’ve heard about organizations having the history of “cutting the fat” to make budget during a recession; however, what you may not have heard are the details that show the value of professional development is like a freight train roaring down the tracks!
Well, let’s talk about it. The train is leaving the station, how ‘bout you hop aboard!
Next stop, Continued Professional Development (CPD). Choo, Choo!
Clearly, when times are flush, organizational leaders tend to be more willing to stoke the fires that power the engine of professional development. They’re willing to buy and share the whole lot of goodies from the snack trolley wheeled down the narrow aisle on the train.
But, of course, when team leaders of organizations are hit by a financial downturn or a recession, the willingness to gorge on the snack trolley turns to a reluctance to acknowledge it, even when their bellies are growling.
Traditionally, when an organization’s team leaders feel the financial crunch, that’s the moment when they decide that CPD will be one of the first to be tossed out of the back of the caboose and left on the rails behind them.
“I think I can, I think I can, I think I can.” ~ The Little Engine That Could
What if organizational team leaders decided to invest in CPD, even when the organization is struck by financial downturns?
First, let's talk about the value of CPD- bullet point style.
Is the second leading factor that keeps team members engaged and invested in their profession and organization. (In case you want to know, the first factor that keeps team members engaged and invested is recognition.)
Ensures you’re keeping pace with the current standards and with others in your industry/function.
Leads to increased public confidence in you and your organization as a whole.
Opens you up to new knowledge, new skills, and new possibilities.
Creates value in the organization through innovation, partnerships, and credibility.
Is the reason 86% of people would leave their current position for an organization that offers it.
But what about during a recession? According to a study conducted by Deloitte Insights, it was discovered that an organization that invests in its team members before, during, and after a recession outlasted its peer organizations by threefold in long-term profitability. Check it out below.
“Leaders must continuously invest in people. High-engagement companies have executives who spend money in learning, regularly meet with teams and provide feedback, and genuinely care about each individual. Our research on “high-impact learning organizations,” conducted in 2005, 2008, and 2011 (before, during, and after the last recession), showed each year that companies that “overinvest” in L&D (spending per employee) rated highest in employee retention, innovation, and customer service and outperformed their peers threefold in long-term profitability. This trend shows that investment in people matters during good times and bad.”
The whistle is blowin’, and this train is movin’.
But just as the pull of a locomotive creates a jolt to start the line of train cars rolling on the tracks, so is the action by forward thinking people who won’t crumble to the knee-jerk reaction of what tradition has laid out in the past.
Instead of being fearful, face forward and be fearless! Sometimes you can’t wait for the world to catch up and you must decide to lock the back door to the caboose and travel the distance to the front of the train. No matter how many times you may lose your balance or how many stops along the way, reaching for that next step in your career and obtaining it is exactly what you need.
Next stop, YOU!
That’s right, you’re at a point where you can reach for more than whatever was before! And although life is a journey, with many stops along the way, right now the train you’re on is approaching your station.
December is the perfect time to look at where you’ve been and think about where you’re going. It’s a good time to make your Continued Professional Development one of your priorities and resolutions for 2023.
It’s the 123s of your CPDs!
Think about what CPDs you want/need.
Plan your growth for the coming year.
Decide how to advance your capabilities.
Talk to your team leaders about CPDs.
Create a business case.
If you don’t know how, start here!
Know your worth.
Invest in yourself.
Elevator pitch CPD to leadership. Show them that investing in you is an investment in their future!
Be open and ready to advance your knowledge and certifications.
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