What the Numbers Say About Professional Development

This quarter at Ewald Consulting, we are focusing more on professional development, subscribing to LinkedIn learning to give our employees access to the numerous courses available in the LinkedIn library. We believe that this not only helps our company improve with job-specific trainings, but helps our employees expand on their own interests.

You likely know that professional development is a key factor in fostering an engaged, productive workplace, but how effective is it, really? In this post, we will look at some statistics that reflect the importance of professional development in the workplace.

1. 74% of employees feel that they lack development opportunities
   A study by Middlesex University London found that many employees did not feel like they were achieving their full potential at work because there were not enough professional development opportunities. Employees want to grow and learn in their positions. If they feel they are stuck with no place to go, they will be less engaged and more willing to leave your organization.

2. The cost of losing a new employee could be about 3x their annual salary
   PwC found this number in their research. This emphasizes the notion that professional development is an investment. Even if the upfront costs seem hefty, remember that in the long term, this could save your organization time and money.

3. Engaged employees perform 202% better than non-engaged employees
   A Shift article discussed a Dale Carnegie study that found this statistic. Professional development opportunities improve engagement significantly and engagement has lasting effects on your organization’s culture and revenue.

4. 87% of millennials say professional development is significant
   Millennials are making up more and more of the workforce. According to Access Perks, development opportunities are a key factor in millennials’ job choices. Gen Z, now entering the workforce, also expects employers to provide customized learning. Make sure you are attractive to a growing workforce by offering what they are looking for.

5. 76% of employees are looking for development opportunities
   ClearCompany found that most employees want development trainings. Offering a variety of professional development opportunities shows your employees that you are not only invested in the work they do, but their interests and goals as an individual.

6. 40% of employees who do not receive proper training will leave within their first year
   According to Go2HR , if employees do not receive cohesive job training, they are significantly more likely to leave before their 1-year anniversary.

7. 69% of employees are open to new job opportunities
   Rapt Media said that most employees would be willing to leave their current jobs. Guthrie Jensen’s blog explains that you need to continually offer growth opportunities so that your employees see your organization as the best place for them to grow.

Your employees will always be your greatest asset, so make sure you are constantly investing in them and their futures.