In the competition for talent, one of the top incentives people look for (especially knowledge workers) is the opportunity to continue developing in their profession. Organizations that don’t recognize the value of professional development don’t invest in it, and employees who feel stagnant in their careers will leave. So, if you want to attract, grow, and retain top talent, provide people with the opportunity to learn and progress.
Training budget
If your organization doesn’t have a training budget, you might want to work somewhere else. At one of my former companies, training dollars were hard to come by – employees had to make the business case (along with a cost/benefit analysis) to get training funded and approved. My current company has an annual budget available for every associate, but sadly, it’s “woefully underutilized,” according to management. This statement tells me two things: 1) people aren’t asking for training even though there’s a budget, 2) leaders aren’t encouraging their people to take advantage of training. If you have a training budget, don’t let it go to waste – use it!
Financial support for earning certifications
Certifications set people apart from peers in the same profession. When someone takes the time to apply, study, and sit a rigorous exam, it shows a dedication to their craft. I have earned many certifications throughout my career, and I can’t say I regret getting any of them. Each one required me to learn something new, not just from a book-learning perspective but from practicing what I learned in the workplace. Companies that financially support people in earning certifications show that they are equally committed to the growth and development of their people.
Bonuses for earning certifications
On top of just supporting employees in earning certifications, some organizations take it one step further and incentivize their employees by offering them bonuses for attaining new credentials. When an employee spends a ton of their time adding knowledge to their brains, it’s nice to get a little reward at the end of the effort. Very few certifications are “easy” to earn, and companies that recognize and reward those who do are more likely to retain their employees.
Upskilling
Sometimes job skills become obsolete as technology changes, improves, and displaces manual work. You don’t have to terminate people in positions like this – upskill them – especially if the person has been a loyal employee. Upskilling involves learning a whole new set of skills or an entirely new profession, which isn’t an easy thing to do. But organizations going through a digital transformation should invest in upskilling existing people, knowing that the work they will be doing is more valuable than the work they used to do.
Library of books (physical or digital)
Many organizations amass libraries of books on a plethora of topics. One of my clients had a bookshelf that covered a whole wall, and it was full of books on lots of subjects, including technical, leadership skills, agile, project management, etc. If you wanted to learn something, you could borrow a book. In the age of COVID, this is a bit more difficult, but many organizations have also invested in digital libraries. People can learn whatever they want to, at their own pace. The key is to make the library accessible to everyone so that all employees have a chance to learn.
Access to online learning platforms
Education is one of the most incredible benefits you can provide your employees. The world is your oyster when you have easy access to education. Many companies invest in online training platforms such as Udemy, LinkedIn Learning, Coursera, etc. These platforms cover nearly every topic you can imagine, and there’s no better way to let employees self-direct their professional development. Plus, the employee can earn certificates or badges for completing courses; they will be proud of these achievements and share them with others.
Targeted internal training
If your organization is large enough, you might have your own learning and development department. If so, you can create targeted training courses specific to your industry or organization. Your staff can teach the sessions and provide them to only those who need the training. Not everyone needs every training you may offer. Still, if you want your employees to stay current and relevant, you can be proactive about providing them with the training they need for themselves and the organization to be successful.
Mentorship and coaching opportunities
They say that the best way to absorb something is to teach it to someone else. If you have been in your career for a long time, you have invaluable knowledge, experience, and wisdom that you can share with others. At a certain point in your career, this is the best way to give back and pay it forward to the next generation of professionals. On the flip side, if you can find a mentor willing to share their experience with you, you’ll make huge strides forward in your career by learning from them.
Speaking (internal/external)
Another way to develop oneself is to speak. You can share internally with a small, private audience or speak to large audiences at formal training conferences. I never aspired to be a public speaker (most people fear it as much or more than death), but it was a stretch goal that my leader challenged me to. Ever since my first presentation, I have never looked back. I am always eager to share with others and often do. Yes, it’s a bit nerve-wracking, but you get over that once you get in the groove.
Final Thoughts
There are endless ways to learn new things and grow your career. This list is a starting point for that journey. I hope your organization supports you in developing your profession, but not everyone is so lucky. If you find you have stagnated and want to move forward, it might be time to look and see what other companies offer in terms of growth and development.
If you missed the first several blogs in this series on Innovative Employee Incentives in the age of COVID, check them out now:
- Innovative Employee Incentives in the age of COVID
- Incentive #1: Work Environment
- Incentive #2: Workspace & Tools
- Incentive #3: Work Schedule
- Incentive #4: Health & Wellness
Now, it’s your turn. What do you do to help grow your career? What kinds of tools does your employer provide to help you? Do they support you in learning new things and earning certifications? If not, why not? Please share your experiences with me in the comments below!